New Construction Retail
For Sale
$499,900
1329 West Ave, Ocean City, NJ 08226
COMMERCIAL/INDUSTRIAL, Ocean City, NJ
Property Size1,218 SF
Price / SF$410.43
Days on Market199
Property Features for 1329 West Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Rooms
Office
Interior features
220 Volt Electricity, Display Windows, Fire Sprinkler System, Handicap Features, Restroom, Smoke/Fire Alarm, Storage
Accessibility
Accessible Approach with Ramp
Lot features
Business District, Boardwalk Area
Directions
Located at 13th & West Ocean Side of the Street.
Subdivision
Ocean City/Central
Standard status
Active
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
gas heat
central air
half bath
large windows
elevated building above flood lines
Building Details
Year built
2026
Additional Structures
Storage
Listing Agency:
BHHS FOX and ROACH-Simpson OC
(609) 399-0041
Listed By:
MICHAEL G CONTINO · License #0338620
(609) 335-9100
Added: Mar 5
Changed: Sep 2
Last Checked: Sep 20 at 10:06PM
MLS# 605314
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 under-construction retail storefront at 1329 West Ave in Ocean City provides 1,218 square feet of commercial floor area. The unit is designed with 12-foot ceilings, large display windows, a half bath, storage, and office space. Building systems include natural-gas forced-air heat, central air conditioning, fire sprinklers, smoke and fire alarms, and 220-volt electricity. An elevated structure above flood lines and a ramped accessible approach are also included.
The property is positioned within Ocean City's downtown shopping and dining area along West Avenue. Public water and public sewer serve the property, and the 2026 construction supports a newly built commercial setting for retail occupancy.
The property is positioned within Ocean City's downtown shopping and dining area along West Avenue. Public water and public sewer serve the property, and the 2026 construction supports a newly built commercial setting for retail occupancy.
Key Highlights
- 1,218 SF retail storefront with 12‑foot ceilings
- Large display windows, storage, office space, and a half bath
- Natural‑gas forced‑air heating and central air conditioning
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
$14,119
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
2.82%
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%
$282,380
$282.4K
Cap Rate 7%
$201,700
$201.7K
Cap Rate 9%
$156,878
$156.9K
Market Conditions
NOI Build-Up for 1,218 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
$21.9K $18.00/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$20.2K $16.56/SF
− OpEx
−$6.1K −$4.97/SF
NOI
$14.1K $11.59/SF
Area
Cape May County, NJ
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$282,380
Cap Rate 7%
$201,700
Cap Rate 9%
$156,878
Alternative Uses
Best Use
Retail
$201.7K
$176.5K – $235.3K
NOI $14,119 @ 7.0% cap · market cap 2.82%
Second Best
Mixed Use
$156.1K
$136.6K – $182.1K
NOI $10,925 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$372.8K
$326.2K – $435.0K
NOI $26,098 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,246
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 40%
Home Improvements & Furnishings 20%
Wawa
Shops & Services
11,847 visits/mo
0.2 miles
Starbucks
Dining
9,021 visits/mo
0.4 miles
Dunkin' Donuts
Dining
4,788 visits/mo
0.5 miles
Shoemaker Lumber
Home Improvements & Furnishings
3,262 visits/mo
0.3 miles
Wells Fargo
Shops & Services
1,965 visits/mo
0.1 miles
Demographics for 08226, NJ
11,229
Population
20,905
Households
0.5
Avg Household Size
57
Median Age
55%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
1,651
Density / Sq Mi
$101,782
Median Household Income
$54,323
Median Earnings
$1,670
Median Rent
$719,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Under-construction storefront with display windows, accessible entry, and dedicated climate control in downtown Ocean City.
Where is this storefront property located?
The property is located at 1329 West Ave Ocean City, NJ.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,218 SF retail storefront with 12‑foot ceilings; Large display windows, storage, office space, and a half bath; Natural‑gas forced‑air heating and central air conditioning
