Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1228 Route 109 Cape May, NJ 08204

    Sponsored
    For Sale
    $3,950,000

    Retail - Lower Township, NJ

    Type:Retail
    Property size:
    6,200 SF
    Days on Market:
    14
    Last Refresh:
    Jan 27 at 2:06 pm

    Property Features for 1228 Route 109

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Security features
    Fire Alarm
    Zoning
    MGB
    Parking features
    Off Street
    Interior features
    440 Volt Electricity, Display Window, Smoke/Fire Alarm, Three Phase Electric
    Exterior features
    Restrooms, Sign
    Size
    6,200 SF

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1956
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Barbara McPherson

    Coastline Realty, LLC (609) 884-5005

    Listing agent Barbara McPherson (609) 884-5005 License #9701518

    Listing date Jan 14, 2026

    MLS# 252872 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.

    Learn more

    Property Insight Report

    Overview

    Updated Retail in Marina District

    Located on Route 109 in Lower Township, New Jersey, this retail property is situated 'On the Way to Cape May' in the updated Schellenger's Landing area, which features red brick sidewalks and pedestrian crosswalks. The property is in the Marina District, directly across from the SJ Marina, which hosts fishing tournaments. The Cape May Whale Watch is located at the end of the street. The surrounding area includes restaurants such as the Lobster House, Lucky Bones, and Mayer's Tavern. The Marina District is experiencing new development, including townhouses. The building is over 6,000 sq. ft. and has off-street parking, along with a driveway behind the building stretching from 1st Ave. to 2nd Ave. Historically, the property has been a hosiery factory, a machine shop, a dry dock boat repair, and a marine supply business with a grocery and sandwich take-out. An antique shop with over 70 vendors has been a tenant for over 30 years. A partial second floor includes a small kitchen, bath, and office area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape May
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.910095
    Latitude
    38.948984

    Nearby Similar for Sale

    • $4,290,000
      4,400 SF

      Prime Cape May Commercial Opportunity

      Three-parcel package in historic Cape May with retail and parking.
      609 Jefferson St, Cape May, NJ 08204
      View Details
    • $3,950,000

      Route 109 Commercial Opportunity

      Commercial building in Cape May's Marina District for sale.
      1228 Rte 109 Hwy, Cape May, NJ 08204
      View Details
    • $3,995,000
      3,565 SF

      Historic Cape May Bed & Breakfast

      Turn-key bed and breakfast near Washington Street mall and beaches.
      202 Ocean St, Cape May, NJ 08204
      View Details
    • $4,290,000
      4,400 SF

      Prime Mixed-Use Cape May Opportunity

      Three-parcel package in historic Cape May with commercial building and potential.
      609 Jefferson St, Cape May, NJ 08204
      View Details
    • $4,290,000
      4,400 SF

      Prime Cape May Commercial Opportunity

      Three-parcel package in Historic Cape May with commercial building and parking.
      609 Jefferson St, Cape May, NJ 08204
      View Details
    • $3,750,000

      Cape May Hotel Opportunity

      Centrally located hotel near the beach in Cape May.
      202 Perry St, Cape May, NJ 08204
      View Details
    • $3,750,000

      Cape May Multifamily Investment Opportunity

      Three-story multifamily building with cottage near the beach.
      202 Perry St, Cape May, NJ 08204
      View Details
    • $2,890,000

      Historic Cape May Apartment Building

      Historic 1876 building with five apartments near beaches and shops.
      933 Washington St, Cape May, NJ 08204
      View Details
    • $499,900

      Commercial Duplex in Prime Location

      Commercial duplex in North Cape May with business potential.
      3802 Bayshore Rd Rd, Cape May, NJ 08204
      View Details
    • $3,199,000

      Historic Cape May Victorian Duplex

      Charming Victorian duplex in Cape May's Historic District.
      626 Hughes St, Cape May, NJ 08204
      View Details
    • $1,300,000
      5,000 SF

      Versatile Commercial Space in Cape May

      Adaptable commercial space licensed for warehouse, office, and bakery use.
      525 Elmira St, Cape May, NJ 08204
      View Details
    • $1,300,000
      4,800 SF

      Cape May Commercial/Industrial Opportunity

      4,800 SF commercial warehouse with office space on 18,000 SF lot.
      525 Elmira St, Cape May, NJ 08204
      View Details

    FAQs

    What type of property is this?
    Specialty property - Over 6,000 sq ft retail in Lower Township, NJ.
    Where is this specialty property located?
    The property is located at 1228 Route 109 Cape May, NJ.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: - Prime location in the rapidly developing Marina District, surrounded by popular restaurants and attractions like SJ Marina and Cape May Whale Watch.; - Substantial 6,000+ sq. ft. building offering flexibility for various business ventures.; - Ample off-street parking with a driveway stretching between 1st and 2nd Ave.
    (609) 780-7652
    Request Owner's contact information
    1228 Route 109 Cape May, NJ 08204
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1228 Route 109
    Cape May, NJ 08204
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1228 Route 109 Cape May, NJ 08204
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Barbara McPherson
    Real Estate License ID: 9701518
    (609) 780-7652
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.