Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cape May Land Development Opportunity Title is generated by Realmo AI

    2304 N Route 9, Cape May Court House, NJ 08210

    View on Map
    Claim this Listing
    For Sale
    $899,900

    UnimprovedLand - Cape May Court House, NJ

    Lot size:
    21.74 Acres
    Added:
    Sep 20, 2024
    Days on Market:
    597
    Last Refresh:
    May 9 at 4:06 pm

    Property Features for 2304 N Route 9

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    21.74 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6962

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Grimes

    Listing agent Mark Grimes

    Listing office BHHS Fox & Roach 109 34th Street-Ocean City 109 34th St, NJ

    Listing date Sep 20, 2024

    MLS# 589294 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large Acreage: Approximately 21 acres of land.
    • Development Opportunity: Potential for development projects.
    • Two Adjacent Lots: Includes two separate lots (2304 and 2316 N. Route 9).
    • Pond on Property: Features a pond.
    • Proximity to Beaches: Located within a few miles of Avalon, Sea Isle, and Stone Harbor.
    • Location: Situated in Dennis Township.

    Overview

    This property presents a potential development opportunity, consisting of two adjacent lots totaling approximately 21 acres. Located in Dennis Township at 2304 and 2316 N. Route 9, Cape May Court House, NJ 08210, the land includes a pond. The location is within a few miles of Avalon, Sea Isle, and Stone Harbor. All approvals, inspections, and applications are the responsibility of the buyer.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Hotel & Motel Auto Parts Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape May Court House
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.740098
    Latitude
    39.164162

    Nearby Similar for Sale

    • $524,900

      Versatile Commercial/Residential Property

      Charming property suitable for residential or commercial use.
      33 E MECHANIC Street, CAPE MAY COURT HOUSE, NJ 08210
      View Details
    • $524,900

      Versatile Office/Residential Property

      Charming property suitable for office, residential, or redevelopment.
      33 E Mechanic Street, Cape May Court House, NJ 08210
      View Details
    • $524,900

      Versatile Office/Residential Property

      Charming property suitable for residential or commercial use.
      33 E Mechanic, Cape May Court House, NJ 08210
      View Details
    • $500,000

      Established Vineyard and Winery Auction

      22.26-acre vineyard and winery with business and equipment.
      221 N Delsea Drive, Cape May Court House, NJ 08210
      View Details
    • $1,599,995

      Mixed-Use Investment Property For Sale

      Seven-unit mixed-use building in downtown Cape May Court House.
      5 S Main, Cape May Court House, NJ 08210
      View Details
    • $1,599,995

      Prime Mixed-Use Investment Opportunity

      Seven-unit mixed-use building in the heart of Cape May Court House.
      5 S Main, Cape May Court House, NJ 08210
      View Details
    • $2,700
      3,200 SF

      Multi-Use Flex Property Available

      3,200 sq ft flex space for office/warehouse/manufacturing/restaurant.
      371 Route 47, Cape May Court House, NJ 08219
      View Details
    • $3,000,000

      Cape May Mixed-Use Development Parcel

      Mixed-use development parcel near Stone Harbor beaches and shopping.
      530 Stone Harbor, Cape May Court House, NJ 08210
      View Details
    • $3,000,000

      Prime Mixed-Use Development Parcel

      Mixed-use development opportunity near Stone Harbor beaches and shopping.
      530 Stone Harbor, Cape May Court House, NJ 08210
      View Details
    • $898,000

      Route 9 Development Opportunity

      3.5 acre commercial property on Route 9.
      1205 RT 9 S, Cape May Court House, NJ 08210
      View Details
    • $999,000

      Cape May Court House Development

      4.54 acre development opportunity in Cape May Court House.
      212 Shunpike, Cape May Court House, NJ 08210
      View Details
    • $550,000
      1,914 SF

      Turn-Key Professional Office Building

      Strategically located, fully furnished office building in downtown Cape May.
      309 S Main, Cape May Court House, NJ 08210-2324
      View Details

    FAQs

    What type of property is this?
    Land - 21 acre land parcel near Avalon, Sea Isle, Stone Harbor.
    Where is this land located?
    The property is located at 2304 N Route 9 Cape May Court House, NJ.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: Large Acreage: Approximately 21 acres of land.; Development Opportunity: Potential for development projects.; Two Adjacent Lots: Includes two separate lots (2304 and 2316 N. Route 9).
    (609) 425-2042
    We can help!
    Listing Contact
    Mark Grimes
    Real Estate License ID: 8933684
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2304 N Route 9, Cape May Court House, NJ 08210
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!