Building Details

Building Size 2,000 SF

Year Built 1978

Listing Agency: KELLER WILLIAMS PRIME REALTY

Listed By: Michelle Christine Sheppard Show Phone

Source: Evrealestate

Added: Apr 6 Changed: Oct 25 Last Checked: Oct 24 at 5:09PM

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Investment Insights

Based on property information with market context.

Turnkey commercial property combining a fully operational restaurant and an attached bait & tackle shop. The restaurant includes classic diner-style seating and an open-concept kitchen. The bait shop features a large walk-in cold storage area designed for high-volume inventory.

Located along the Delaware Bay in Fortescue, the property is described as being just minutes from the marina and popular fishing areas, serving both locals and seasonal visitors. A spacious parking lot accommodates boats and trailers, supporting busy summer demand.

The offering is positioned as an investment property with multiple revenue streams through the restaurant and bait shop operations. The remarks also note that city sewer is coming soon.

Key Highlights

• Turnkey commercial property in Fortescue, NJ featuring a restaurant and an attached bait & tackle shop
• Restaurant includes classic diner‑style seating and an open‑concept kitchen
• Bait shop has large walk‑in cold storage for high‑volume inventory

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,022

Cap Rate

7.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$560,440 $560.4K

Cap Rate 7%

$400,314 $400.3K

Cap Rate 9%

$311,356 $311.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$39.0K $19.50/SF

− Vacancy

−$1.6K −$0.82/SF

EGI

$37.4K $18.68/SF

− OpEx

−$9.3K −$4.67/SF

NOI

$28.0K $14.01/SF

Area

Cumberland County, NJ

Vacancy

4.20%

Lease Rate

$19.50 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$560,440

Cap Rate 7%

$400,314

Cap Rate 9%

$311,356

Alternative Uses

Best Use

Specialty Retail

$400.3K

$350.3K – $467.0K (±1% cap)

NOI $28,022 @ 7.0% cap · market cap 7.19%

Second Best

Retail

$344.9K

$301.8K – $402.4K (±1% cap)

NOI $24,142 @ 7.0% cap · market cap 6.19%

Theoretical Best

Office A

$3.00M

$2.63M – $3.50M (±1% cap)

NOI $210,211 @ 7.0% cap · market cap 53.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Higbee's Luncheonette Restaurant

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Explore this area Business Placement

Demographics for 08321, NJ

189

Population

298

Households

0.6

Avg Household Size

57

Median Age

18%

College-Educated

88%

High-School Grad

8.8 sq mi

ZIP Area

21

Density / Sq Mi

$52,500

Median Household Income

$213,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turnkey restaurant with open-concept kitchen plus attached bait and tackle shop with walk-in cold storage.

Where is this conventional restaurant located?

The property is located at 814 Downe Ave Fortescue, NJ.

What is the asking price?

The asking price for this property is $389,999.

What are key features of this property?

This property features: Turnkey commercial property in Fortescue, NJ featuring a restaurant and an attached bait & tackle shop; Restaurant includes classic diner‑style seating and an open‑concept kitchen; Bait shop has large walk‑in cold storage for high‑volume inventory