Angelo's Restaurant Is Up For Sale
Posted on Wednesday, March 03rd, 2021
By DONALD WITTKOWSKI
Angelo’s Ristorante & Pizzeria, one of Sea Isle City’s most iconic businesses for 40 years, is up for sale for $5.4 million.
The three-story building at the corner of Landis Avenue and John F. Kennedy Boulevard occupies one of the most prominent locations in the heart of the downtown business district.
“It is a very high-profile location. It is probably the best corner location in Sea Isle,” said Nick Preuhs, a broker with the Long & Foster Sea Shore Team, one of the real estate companies handling the sale.
Underscoring the restaurant’s premier location, Preuhs noted that Angelo’s is one of the first landmarks that visitors see as they enter the center of town off the Sea Isle Boulevard bridge.
The restaurant’s location just a block from the Promenade would allow the buyer to capitalize on the foot traffic heading to and from Sea Isle’s popular oceanfront walkway as well as all of the activity in the downtown retail district, Preuhs pointed out.
The sale includes the 4,500-square-foot restaurant with seating for 130 customers, two large dining rooms and a fully equipped kitchen.
In addition, the building includes eight income-producing residential rental units known as the Surfside Suites on the top two floors. Furnishings from all eight units are included in the sale.
Income from the units already rented for the summer vacation season will be transferred over to the buyer as another incentive, Preuhs said.
The second floor features six residential units with a common area laundry room. Three of the units are studio apartments. Another unit includes one bedroom and one bath. The sixth unit includes two bedrooms and one bath.
On the top floor are two residential units that include three bedrooms and two full bathrooms with a private laundry area. Preuhs said the top floor features expansive ocean views from the deck to make the units even more appealing to renters.
In recent years, there has been a growing trend in Sea Isle for mixed-use developments that combine commercial space such as retail shops or restaurants on the first floor with condominiums or apartments on the top two floors.
The combination of commercial space on the first floor and residential units on the top two stories would give the buyer plenty of options for the Angelo’s property, said Bill McGinn, a broker with RE/MAX Preferred, the other real estate company that is handling the sale.
“The building has a ton of potential with the mixed-use ingredients in there,” McGinn said. “It will be interesting to see what the future buyer can add to what’s here.”
The Camano family owns Angelo’s Ristorante & Pizzeria. Preuhs explained that owner Angelo Camano feels that the timing is right to sell the property now after 40 years in business.
“For 40 years, they’ve done well. Angelo’s is an icon,” Preuhs said
Angelo’s has gone up for sale at a time when Sea Isle is benefiting from a red-hot real estate market for both home sales and commercial space.
The real estate surge has been fueled in part by investors and second homeowners perceiving the shore as a safe haven from the coronavirus pandemic.
Preuhs noted that the Angelo’s property is already generating interest from potential buyers even though it has been on the market for only eight days.
For more information on the sale of Angelo’s Ristorante & Pizzeria and the Surfside Suites, visit the Sea Shore Team | Sea Isle City Real Estate, Sea Isle City, NJ – RE/MAX Preferred and Rental Properties, Apartments, Rooms in Sea Isle City, NJ (surfsidesuitesandapartments.com).