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Ocean City Boardwalk RESTAURANT Lease 984 Boardwalk
3,200 SF of Retail Space Available in Ocean City, NJ 08226
Highlights
- Heart of Ocean City Boardwalk
- Restaurant / Food Service Lease
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 984 | 3,200 SF | 5-10 Years | $50.00 /SF/YR $4.17 /SF/MO $538.20 /m²/YR $44.85 /m²/MO $13,333 /MO $160,000 /YR | Triple Net (NNN) |
1st Floor, Ste 984
Incredible rare opportunity for Commercial Lease in HEART OF OCEAN CITY'S BOARDWALK, next to the 31 Boardwalk destination of Playland's Castaway Cove. Property features approx 3200 sq ft restaurant/ food service space, 30 ft boardwalk frontage w/loading doc, backdoor delivery, 3 parking spots, plus side exit/entrance Existing tenant operates popular restaurant business & occupies 2 large commercial condos as 1 large unit. New tenant triple-net (NNN) lease is starts at $160K p/year for is 5 or 10 year term w/options to renew, ideally suited for any type of food/beverage-restaurant business. Lease includes optional use of existing older equipment. Depending on lease terms & tenant's fit-out needs, Landlord may be negotiable on cooperating with some Capex allowances. Currently property is tenant occupied w/operational business. Appointment for pre-qualified experienced prospective tenants must be coordinated in advance with listing agent. New lease is subject to tenant's vacancy upon lease expiration.
- Lease rate does not include utilities, property expenses or building services
- Partially Built-Out as a Restaurant or Café Space
- Located in-line with other retail
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT Ocean City Boardwalk RESTAURANT Lease
- Tenant
- Description
- US Locations
- Reach
- Kohr Brothers
- Retailer
- -
- -
| Tenant | Description | US Locations | Reach |
| Kohr Brothers | Retailer | - | - |
PROPERTY FACTS FOR 984 Boardwalk , Ocean City, NJ 08226
| Property Type | Retail | Year Built/Renovated | 1932/2012 |
| Property Subtype | Restaurant | Parking Ratio | 0.38/1,000 SF |
| Gross Leasable Area | 8,000 SF |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Leasable Area | 8,000 SF |
| Year Built/Renovated | 1932/2012 |
| Parking Ratio | 0.38/1,000 SF |
About the Property
Incredible rare opportunity for Commercial Lease in HEART OF OCEAN CITY'S BOARDWALK, next to the #1 Boardwalk destination of Playland's Castaway Cove. Property features approx 3200 sq ft restaurant/ food service space, approx 27 ft boardwalk frontage w/loading doc, backdoor delivery, 3 parking spots, plus side exit/entrance Existing tenant operates popular restaurant business & occupies 2 large commercial condos as 1 large unit. New tenant triple-net (NNN) lease is starts at $150K p/year for is 5 or 10 year term w/options to renew, ideally suited for any type of food/beverage-restaurant business. Lease includes optional use of existing older equipment. Depending on lease terms & tenant's fit-out needs, Landlord may be negotiable on cooperating with some Capex allowances. Currently property is tenant occupied w/operational business. Appointment for pre-qualified experienced prospective tenants must be coordinated in advance with listing agent. New lease is subject to tenant's vacancy upon lease expiration.
- Corner Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Waterfront
- Accent Lighting
- Air Conditioning
Nearby Major Retailers
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Ocean City Boardwalk RESTAURANT Lease | 984 Boardwalk
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