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    1001 S Route 47 Rio Grande, NJ 08242

    View on Map
    For Sale
    $495,000

    Triplex - Rio Grande, NJ

    Type:Triplex
    Lot size:
    0.53 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    21
    Last Refresh:
    Apr 1 at 10:06 am

    Property Features for 1001 S Route 47

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Zoning
    TB
    Rooms
    Basement, Dining Room, Kitchen, Laundry, Living Room, Utility Room
    Parking
    3
    Parking features
    Driveway
    Patio and Porch features
    Patio, Porch
    Exterior features
    Enclosed/Cov. Patio, Porch
    Basement Y/N
    1
    Standard status
    Active
    Lot size
    0.53 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    5239.2

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1955
    Number of units
    3
    Architectural style
    Other

    We can help!

    Listing Contact
    Tai Menz

    Listing agent Tai Menz License #1431705

    Listing office COASTLINE REALTY, LLC 941 Columbia Ave, Cape May, NJ

    Listing date Mar 12, 2026

    MLS# 260588 Listing URL

    Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Rio Grande Triplex on Corner

    This triplex is located on a corner lot of approximately 0.53 acres. The property is zoned for Town Business and features 60 feet of highway frontage. The building contains two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Unit A is a 2-bedroom, 1-bath unit with a screened-in back porch. Unit B is a 1-bedroom, 1-bath unit with a small back deck. Unit C has access to a shared front porch. The HVAC system has been updated to include multi-zoned forced air. There are two separate electric meters, one for the two 1-bedroom units and another for the 2-bedroom unit. The property is centrally located at the corner of Route 47 and Fulling Mill Road, within walking distance of Ockie Wisting Recreational fields. Shared off-street parking is available. The owner covers all utilities in the rent.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rio Grande
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.894848
    Latitude
    39.022681

    Nearby Similar for Sale

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      Established Car Wash Business Opportunity

      Successful car wash business with equipment and real estate for sale.
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      10,326 SF

      Retail Sublease Opportunity Available

      10,326 SF retail sublease in regional trade area.
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      Pad Sites Available For Sale

      Pad sites up to ±10,000 SF available.
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    FAQs

    What type of property is this?
    Triplex - Triplex on corner lot with highway frontage in Rio Grande.
    Where is this triplex located?
    The property is located at 1001 S Route 47 Rio Grande, NJ.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Prime corner lot location with highway frontage and Town Business zoning.; Triplex configuration: two 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit.; Updated HVAC system with multi‑zoned forced air.
    (609) 602-8061
    We can help!
    Listing Contact
    Tai Menz
    Real Estate License ID: 1431705
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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