Freestanding Restaurant
For Sale
$699,000
10 W White Horse, Galloway Township, NJ 08205
COMMERCIAL/INDUSTRIAL, Galloway Township, NJ
Property Size4,070 SF
Lot Size1.21 Acres
Price / SF$171.74
Days on Market84
Property Features for 10 W White Horse
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC-1
Directions
Route 30/White Horse Pike to 10 W White Horse Pike, just west of Route 9/New Road. Large commercial
Subdivision
Galloway Twp
Standard status
Active
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5594
Building Details
Year built
1952
Listing Agency:
CAYME REALTY LLC
(941) 524-2752
Listed By:
CLENVIC CAYME · License #1537974
(941) 704-2294
Added: Jun 18
Changed: Sep 3
Last Checked: Sep 9 at 11:06AM
MLS# 609024
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding restaurant property includes approximately 4,070 square feet on roughly 1.21 acres. The building renovation is nearing completion, with new kitchen equipment, a new water heater, and new HVAC. Its flexible configuration may support restaurant, banquet or event, catering, retail, office, or other permitted commercial uses, subject to verification of zoning and approvals.
The property fronts White Horse Pike/Route 30 and offers approximately 45 parking spaces. Access to Route 9, the Garden State Parkway, and Atlantic City adds regional connectivity for customers, employees, and commercial operations. The property was built in 1952 and is identified under HC-1 zoning.
The property fronts White Horse Pike/Route 30 and offers approximately 45 parking spaces. Access to Route 9, the Garden State Parkway, and Atlantic City adds regional connectivity for customers, employees, and commercial operations. The property was built in 1952 and is identified under HC-1 zoning.
Key Highlights
- Approximately 4,070 square feet on roughly 1.21 acres
- Approximately 45 parking spaces
- Frontage on White Horse Pike/Route 30
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,967
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,340
$1.3M
Cap Rate 7%
$899,529
$899.5K
Cap Rate 9%
$699,633
$699.6K
Market Conditions
NOI Build-Up for 4,070 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.9K $21.60/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$84.0K $20.63/SF
− OpEx
−$21.0K −$5.16/SF
NOI
$63.0K $15.47/SF
Area
Atlantic County, NJ
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,340
Cap Rate 7%
$899,529
Cap Rate 9%
$699,633
Alternative Uses
Best Use
Specialty Retail
$899.5K
$787.1K – $1.05M
NOI $62,967 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.52M
$1.33M – $1.77M
NOI $106,095 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
PrimoHoagies
Dining
1,198 visits/mo
0.5 miles
Demographics for 08205, NJ
28,666
Population
11,660
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
681
Density / Sq Mi
$88,636
Median Household Income
$45,611
Median Earnings
$1,527
Median Rent
$263,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding commercial building with new kitchen equipment, updated HVAC, and HC-1 zoning along a major highway corridor.
Where is this conventional restaurant located?
The property is located at 10 W White Horse Galloway Township, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 4,070 square feet on roughly 1.21 acres; Approximately 45 parking spaces; Frontage on White Horse Pike/Route 30
