5-Unit Shopping
For Sale
$2,800,000
Pending
1880 W County Line Road, Lakewood, NJ 08701
Commercial Sale, Lakewood, NJ
Property Size10,000 SF
Lot Size1.01 Acres
Days on Market36
Property Features for 1880 W County Line Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking
75
Parking features
Parking Lot, Open
Interior features
Fluorescent
Exterior features
Lighting
Fencing
Fenced
Fireplace
1
Lot features
Level, Curbing, Fenced/ Enclosed Area, Fin Road, Highway Frontage, Sidewalks
Directions
Route 9 to West on West County Line Road take Brewers Bridge Jug handle to go East on West County Line Road and West Lake Plaza is about a block up on the right next to the Car Wash.
Standard status
Pending
APN
15-00002-03-00004
Size
10,000 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
43979
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete, Tile, Vinyl
Building materials
Block, Brick, Stucco
Roof type
Flat
Listing Agency:
Preferred Properties Real Estate · Better Homes and Gardens Real Estate
Listed By:
George M Coffenberg
(732) 224-9200
Added: Aug 3
Changed: Sep 2
Last Checked: Sep 7 at 4:06PM
MLS# 22623788
Copyright © 2026 More 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 5-unit shopping center contains 10000 square feet on a 1.01-acre site. Built in 1980, the property features block, brick, and stucco construction, a flat roof, concrete, tile, and vinyl flooring, fluorescent interior lighting, central air, and forced-air heating. A basement, fencing, exterior lighting, and open lot parking are also included.
The center is positioned on a 4-lane highway and provides 75 parking spaces. It is fully occupied by long-term tenants, with lease expirations ranging from 2029 to 2044. Public water and public sewer serve the property. The zoning permits building heights of 35 feet along with many permitted uses.
The center is positioned on a 4-lane highway and provides 75 parking spaces. It is fully occupied by long-term tenants, with lease expirations ranging from 2029 to 2044. Public water and public sewer serve the property. The zoning permits building heights of 35 feet along with many permitted uses.
Key Highlights
- 5‑unit shopping center totaling 10000 square feet
- 1.01‑acre site with 75 parking spaces
- Located on a 4‑lane highway
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
$142,733
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
5.10%
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%
$2,854,660
$2.9M
Cap Rate 7%
$2,039,043
$2.0M
Cap Rate 9%
$1,585,922
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$12.1K −$1.21/SF
EGI
$203.9K $20.39/SF
− OpEx
−$61.2K −$6.12/SF
NOI
$142.7K $14.27/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$2,854,660
Cap Rate 7%
$2,039,043
Cap Rate 9%
$1,585,922
Alternative Uses
Best Use
Retail
$2.04M
$1.78M – $2.38M
NOI $142,733 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 43%
Dunkin' Donuts
Dining
11,598 visits/mo
0.2 miles
Dollar General
Shops & Services
7,539 visits/mo
0.1 miles
Wells Fargo
Shops & Services
5,371 visits/mo
0.3 miles
Optimum
Shops & Services
2,657 visits/mo
0.4 miles
Demographics for 08701, NJ
135,256
Population
33,539
Households
4
Avg Household Size
20
Median Age
33%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
5,476
Density / Sq Mi
$62,811
Median Household Income
$34,970
Median Earnings
$1,701
Median Rent
$430,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Brook Plaza — 400 S New Prospect Rd, Jackson Township, NJ 08527
- Brewers Bridge — 2080 W County Line Rd, Jackson Township, NJ 08527
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied retail center with recent roof and HVAC upgrades, public utilities, and surface parking.
Where is this shopping center located?
The property is located at 1880 W County Line Road Lakewood, NJ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 5‑unit shopping center totaling 10000 square feet; 1.01‑acre site with 75 parking spaces; Located on a 4‑lane highway
