The big, red lobster emblem that decorates the front entrance of the Oar House Pub is part of the sale.
One of Sea Isle City’s best-known restaurants is up for sale – lock, stock and lobster.
The Oar House Pub, formerly known as the Lobster Loft restaurant, has hit the market for just under $7 million.
The sale includes the iconic, oversized red lobster that decorates the restaurant’s front entrance overlooking 42nd Place in the heart of Sea Isle’s Fish Alley neighborhood.
A buyer would have the option of continuing to operate the restaurant or redeveloping the waterfront property into a mixed-use project blending commercial space on the ground level with condos on top.
“The purchase options are multiple,” according to the real estate listing. “Buying the Oar House Pub and liquor license and continuing the tradition of providing great food, beverages, and entertainment being one. The property is zoned commercial and residential so the development of residential units with commercial space is another option. This is a unique opportunity for the right buyers to own and operate an iconic piece of Sea Isle City history.”
Keith Reidy, realtor associate with Sea Isle Realty, the company overseeing the sale, said the first preference would be for the buyer to keep the restaurant in business. He noted the property’s lengthy history as a restaurant dating back to 1970, first as the Lobster Loft and then as the Oar House Pub.
“It’s definitely rich in history,” Reidy said in an interview Monday.
He called it the only restaurant in Sea Isle that can offer food, adult beverages and live entertainment on the waterfront.
Interest from potential buyers has been strong since the restaurant hit the market three days ago, Reidy pointed out.
Restaurant owner James Bennett, pictured here in 2022, rebranded the property into the Oar House Pub in 2018 following its history as the Lobster Loft.Sea Isle businessman James Bennett has owned the restaurant since 2006, dating back to its days as the Lobster Loft. He transformed the eatery into a pub-style restaurant in 2018 and rebranded it as the Oar House Pub.
Bennett could not be immediately reached for comment Monday. This represents at least the second time he has tried to sell the restaurant. He put it on the market for $2.5 million in 2018 when it was still operating as the Lobster Loft, but later decided to keep the eatery during its rebranding as the Oar House Pub.
The city’s zoning laws would allow for a mixed-use development blending a restaurant on the first level and condos on the top floors. When the property was first put up for sale in 2018, the listing described redevelopment plans for a proposed waterfront restaurant and bar, eight boat slips and eight condos in a three-story complex.
The Oar House Pub is one of the landmarks of the Fish Alley neighborhood, an enclave of family-owned restaurants and fishing boats rooted in Sea Isle’s early history as a small commercial seaport. One of its most notable features is the large, decorative red lobster on the front entrance.
The existing two-story building that houses the Oar House dates to 1910 and originally served as a warehouse for the commercial fishing industry before it was converted into a restaurant, according to local historic records.
The real estate listing touts the Oar House as “one of the most sought out dining and entertainment destinations in Sea Isle City.”
“Since its inception in 1970, originally as The Lobster Loft, this establishment has served and provided entertainment to hundreds of thousands of customers and continues to do so to this day,” the listing says.
The sale includes the purchase of the business, the building, the contents and the liquor license.
The main floor includes three separate bars, including two with full dining areas that can accommodate 200 guests. Also in this area is a full stage for live entertainment.
The outside "Alley Bar" also provides live entertainment and can serve 40 guests. Customers can arrive by boat if they wish and dock at the boat slips near the outdoor bar.
The former Lobster Loft restaurant overlooks a lagoon on 42nd Place in the heart of Sea Isle City's Fish Alley neighborhood. (Courtesy of Lobster Loft)
