5 Abbott Ave - Hospitality FOR SALE


Ocean Grove, NJ 07756
$3,795,000 USD
732-763-2961
5 Abbott Ave, Ocean Grove, NJ for Sale
$3,795,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

5 Abbott Ave
Ocean Grove, NJ 07756


HIGHLIGHTS

  • 49 seat restaurant with separete entrance.
  • Just steps to Ocean Grove's beautiful beach.

OVERVIEW

This Historic Ocean Grove Hotel with a 49 seat restaurant offers a solid investment opportunity with huge growth potential. This beautiful building sits on a double lot just steps to Ocean Grove's award winning beach. It offers 20 renting rooms, 21 full baths and 3 half baths, 3 huge porches with panoramic Ocean Views, owners quarters, and a street level restaurant with private entrance. The restaurant is currently used for guests breakfast and a delightful ice cream parlor open to the public, but lends itself to becoming a full service restaurant. This business offers a great return on your investment while only operating seasonally, come explore the possibilities of a year round hotel/restaurant at this Jersey Shore gem!

FOR SALE DETAILS

PRICE

$3,795,000 USD

PRICE/SF

$403 USD /SF

# OF ROOMS

22

PRICE/ROOM

$172,500 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lillagaard Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

5

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1871

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

HD-O

APN/PARCEL ID

35-00230-0000-00015

ASK ABOUT THIS PROPERTY

Alfredo FresnedoRE/MAX GatewayMore Info
732-763-2961

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Alfredo FresnedoRE/MAX GatewayMore Info
732-763-2961

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.