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527 Lake Ave 20,000 SF 41% Leased Retail Building Asbury Park, NJ 07712 $6,500,000 ($325/SF) 5% Cap Rate
EXECUTIVE SUMMARY
This space features a fully built out kitchen, enormous rooftop deck designed to accommodate large crowds. With existing infrastructure for food, beverage and live entertainment, the property is ideal for seasoned operators looking to plug into the area's thriving hospitality scene. The vacant restaurant space has a 6,000 SF main dining area with kitchen and bar, 4,000 SF of basement space and prep area, and a fully built out 9,100 SF roof top deck with full bar, prep kitchen and bathrooms. Building has an additional 3,000 sf tenant: Asbury Park Distilling Co.
CALL NOW FOR MORE INFORMATION
PROPERTY FACTS
AMENITIES
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
$25,000.00 Per Month Triple Net. 6,000 SF main dinning and kitchen area, 4,000 SF basement, 9100 SF built out roof deck with full bar, bathrooms and prep area. Landlord is seeking $500,000.00 in key money for fully built out space. A rare opportunity to lease a fully built-out, high capacity restaurant space in one of New Jersey's most vibrant and fast-growing coastal destination. Located on a prominent corner in downtown Asbury Park, just blocks from the boardwalk and New Jersey Transit, this venue is ready for immediate operation for the summer under new tenancy. This space features a fully built out kitchen, enormous rooftop deck designed to accommodate large crowds. With existing infrastructure for food, beverage and live entertainment, the property is ideal for seasoned operators looking to plug into the area's thriving hospitality scene. CALL NOW FOR MORE INFORMATION
| Space | Size | Space Use | Position | Available |
| 1 | 10,000 SF | Restaurant | - | Now |
1
| Size |
| 10,000 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| Now |
1
| Size | 10,000 SF |
| Space Use | Restaurant |
| Position | - |
| Available | Now |
$25,000.00 Per Month Triple Net. 6,000 SF main dinning and kitchen area, 4,000 SF basement, 9100 SF built out roof deck with full bar, bathrooms and prep area. Landlord is seeking $500,000.00 in key money for fully built out space. A rare opportunity to lease a fully built-out, high capacity restaurant space in one of New Jersey's most vibrant and fast-growing coastal destination. Located on a prominent corner in downtown Asbury Park, just blocks from the boardwalk and New Jersey Transit, this venue is ready for immediate operation for the summer under new tenancy. This space features a fully built out kitchen, enormous rooftop deck designed to accommodate large crowds. With existing infrastructure for food, beverage and live entertainment, the property is ideal for seasoned operators looking to plug into the area's thriving hospitality scene. CALL NOW FOR MORE INFORMATION
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 04-03105-0000-00005 | Improvements Assessment | $3,198,400 |
| Land Assessment | $785,200 | Total Assessment | $3,983,600 |
PROPERTY TAXES
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527 Lake Ave
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