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    69 Main Ave Ocean Grove, NJ 07756

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    For Lease
    $3,200 /Mo ($16 SF/Yr)

    Turnkey restaurant opportunity with high visibility and foot traffic.

    Property size:
    2,392 SF
    Lot size:
    0.04 Acres

    Property Features for 69 Main Ave

    General Information

    Standard status
    Active
    Size
    2,392 SF
    Lot size
    0.04 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Meaghan E Gannon
    Source: Corcoran

    Listing Agency: JACK GREEN REALTY Listing Agent: Meaghan E Gannon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant Space Near the Beach

    This restaurant space is located three blocks from the beach on Main Avenue, benefiting from excellent visibility and consistent foot traffic throughout the year. The property offers a warm and inviting atmosphere suitable for various restaurant concepts, including coastal dining, cafés, or takeout services. The lease includes a fully built-out restaurant, with contents available for sale, presenting a turnkey opportunity for an owner-operator or an expanding brand. The location is surrounded by shops, local attractions, and beachgoers, which contributes to strong seasonal volume and a loyal community presence. The property size is 2392 square feet.
    Location Intelligence

    Current Use by Public Records

    Dale and Dollops Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Skin Care Clinic Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    The Majestic Hotel, A Matter of Taste Catering, Wise Flavors & More Co, Rosa's Kitchen, Das Catering

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Grove
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0081093
    Latitude
    40.2125628

    Nearby Similar for Lease

    • $3,200 /Mo
      2,392 SF

      Ocean Grove Restaurant Opportunity

      Turnkey restaurant space for lease, three blocks from the beach.
      69 Main Ave, Ocean Grove, NJ 07756
      View Details
    • Contact for pricing

      Ocean Grove Winter Rental

      Beach block duplex available for winter and spring rental.
      8 Surf Ave, Ocean Grove, NJ 07756
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    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant opportunity with high visibility and foot traffic.
    Where is this restaurant located?
    The property is located at 69 Main Ave Ocean Grove, NJ.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: - Prime location on Main Avenue, just three blocks from the beach, ensuring high visibility and foot traffic.; - Turnkey restaurant opportunity with a fully built-out space and contents available for sale.; - Ideal for various restaurant concepts, including coastal dining, café, or takeout.
    (732) 776-6400
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    69 Main Ave Ocean Grove, NJ 07756
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    69 Main Ave Ocean Grove, NJ 07756
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    We can help!
    Listing Contact
    Meaghan E Gannon
    (732) 776-6400
    Learn more
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