Established Restaurant with Ice Cream
For Sale
$659,900
688 E Bay Avenue, Barnegat, NJ 08005
Turnkey 70-seat restaurant with ice cream parlor in high-traffic area.
Property Size2,816 SF
Price / SF$234.34
Days on Market238
Property Features for 688 E Bay Avenue
General Information
Standard status
Active
Size
2,816 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Weichert Realtors-Ship Bottom
Listed By:
Paul Metzger
(609) 618-9240
Source:
Actionplusrealty
Added: Mar 10
Changed: Nov 1
Last Checked: Nov 1 at 6:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Weichert Realtors-Ship Bottom
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a well-established 70-seat restaurant known for its classic charm and inviting atmosphere. The restaurant serves breakfast, lunch, and dinner and includes an ice cream parlor. Located in a high-traffic area, this dining destination blends old-world character with modern comfort. The interior features a warm, timeless design with an open feel, vintage woodwork, and curated decor, creating a welcoming ambiance. The fully equipped kitchen and well-maintained facilities offer a turnkey opportunity for restaurateurs to continue a successful legacy or introduce a fresh concept. The property benefits from steady foot traffic, a strong repeat customer base, and proximity to the Barnegat bay beach and public dock. Additional features include sidewalk and exterior seating, an exterior fixed refrigeration trailer, additional rear shed storage, an expansive high-volume kitchen, a 3 terminal Toast POS system, and all equipment and small wares. There is a classic throwback ice cream bar with an exterior walk-up window, an office with a full bathroom off the back of the building, basement storage, and 2 customer bathrooms. The sale includes the building, real estate, and business. There is also an option for the sale of the business only, with the seller retaining the building and negotiating lease terms. The property size is 2816 square feet.
Key Highlights
- Established 70‑seat restaurant with a strong repeat customer base in a high‑traffic location.
- Turnkey operation: fully equipped kitchen, all equipment and small wares included.
- Includes real estate and business in the sale (option for business‑only sale with negotiated lease terms).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,065
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,300
$861.3K
Cap Rate 7%
$615,214
$615.2K
Cap Rate 9%
$478,500
$478.5K
Market Conditions
NOI Build-Up for 2,816 SF
Gross rent
$60.8K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$57.4K $20.39/SF
− OpEx
−$14.4K −$5.10/SF
NOI
$43.1K $15.29/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,300
Cap Rate 7%
$615,214
Cap Rate 9%
$478,500
Alternative Uses
Best Use
Specialty Retail
$615.2K
$538.3K – $717.8K
NOI $43,065 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$735.3K
$643.4K – $857.9K
NOI $51,472 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08005, NJ
25,814
Population
11,671
Households
2.2
Avg Household Size
49
Median Age
34%
College-Educated
94%
High-School Grad
53.5 sq mi
ZIP Area
483
Density / Sq Mi
$92,548
Median Household Income
$47,209
Median Earnings
$1,949
Median Rent
$356,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey 70-seat restaurant with ice cream parlor in high-traffic area.
Where is this conventional restaurant located?
The property is located at 688 E Bay Avenue Barnegat, NJ.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Established 70‑seat restaurant with a strong repeat customer base in a high‑traffic location.; Turnkey operation: **fully equipped kitchen, all equipment and small wares included.**; Includes real estate and business in the sale (option for business‑only sale with negotiated lease terms).
