Beloved NJ Shore Waterfront Restaurant Hits the Market for Nearly $7 Million

For many in Jersey, there's one spot that feels less like a business and more like a second living room. Regulars grow up there, their kids grab summer jobs there, and everybody seems to know everybody. It has that familiar, easy vibe where you walk in and instantly relax.

Restaurant owner Jimmy Bennett told NJ.com that his joint reminds him of the old sitcom where everybody knows your name, Cheers. Well, after more than two decades of pouring drinks, hosting bands, and watching families grow up at his place, Jimmy has decided it is time to pass the keys to someone new.

A waterfront spot with serious history

The building itself has lived a bunch of lives. Tucked into Fish Alley near 42nd Street, it started out in 1910 as a warehouse for the local commercial fishing industry. In 1970, it turned into a restaurant known to many as The Lobster Loft, and since then, the place has been all about food, fun, and waterfront views.

Today, the layout is built for big nights and big crowds. The main level has three bars, two full dining areas, and room for about 200 people, along with a stage that has seen live music for more than 50 years. There is a front bar where about 25 folks can squeeze in, plus tables nearby for friends who want to linger over dinner.

Head upstairs and you find another bar that can handle around 100 guests, perfect for private parties, reunions, and shore celebrations. Outside, the Alley Bar gives people a spot to listen to live music under the sky, with space for about 40 guests. There are even boat slips, so on a warm summer night you can literally pull up by water and walk right in.

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A beloved local is ready for its next chapter

Bennett bought the place in 2020, pulled in by those bay views, and now he is ready to retire, spend time with his wife and grandson, and catch his son’s wrestling matches at Ocean City High School. The property, liquor license, equipment, and that famous lobster logo are all included in the nearly 7 million dollar asking price.

He hopes the next owner keeps the place's heart alive. After all, this is the Oar House Pub, a true Sea Isle landmark built on regulars, fundraisers, and community spirit.