Furnished Craftsman Office
For Sale
$550,000
309 S Main Street, Cape May Court House, NJ 08210
COMMERCIAL/INDUSTRIAL, Cape May Court House, NJ
Property Size1,914 SF
Lot Size0.31 Acres
Price / SF$287.36
Days on Market605
Property Features for 309 S Main Street
General Information
Property type
Residential
Property subtype
Office
Zoning
TB
Parking features
Off Street
Interior features
Restroom
Exterior features
Sign
Lot features
Business District
Subdivision
Cape May Court House
Standard status
Active
Size
1,914 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6495
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
central air conditioning
natural gas heat
detached garage
Building Details
Year built
1910
Flooring type
Carpet - Full
Listing Agency:
JERSEY CAPE REALTY
(609) 884-5800
Listed By:
James M. Cheney · License #9700084
(609) 408-1948
Added: Jan 23, 2025
Changed: Aug 19
Last Checked: Sep 20 at 3:06PM
MLS# 250185
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.
Investment Insights
Based on property information with market context.
This 1,914-square-foot office property occupies a 1910 craftsman-style building in downtown Cape May Court House. The mostly furnished interior includes a restroom, full carpeting, natural gas forced-air heat, and central air conditioning. Vinyl replacement windows, CertainTeed vinyl siding, and rigid asbestos roof shingles are in place, while a sign provides exterior identification.
The property includes a recently repaved asphalt driveway and parking area, plus a detached 503-square-foot garage with electric service. The approximately 57-foot by 240-foot lot offers additional land area around the office and garage. TB zoning is identified for the property, and its Cape May Court House location places it within Cape May County.
The property includes a recently repaved asphalt driveway and parking area, plus a detached 503-square-foot garage with electric service. The approximately 57-foot by 240-foot lot offers additional land area around the office and garage. TB zoning is identified for the property, and its Cape May Court House location places it within Cape May County.
Key Highlights
- 1,914 SF office building constructed in 1910
- Approximately 57' x 240' lot in downtown Cape May Court House
- Detached garage of approximately 503 SF with electric service
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
$31,307
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
5.69%
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%
$626,140
$626.1K
Cap Rate 7%
$447,243
$447.2K
Cap Rate 9%
$347,856
$347.9K
Market Conditions
NOI Build-Up for 1,914 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
$53.5K $27.96/SF
− Vacancy
−$11.8K −$6.15/SF
EGI
$41.7K $21.81/SF
− OpEx
−$10.4K −$5.45/SF
NOI
$31.3K $16.36/SF
Area
Cape May County, NJ
Vacancy
22.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$626,140
Cap Rate 7%
$447,243
Cap Rate 9%
$347,856
Alternative Uses
Best Use
Office B
$447.2K
$391.3K – $521.8K
NOI $31,307 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$585.9K
$512.7K – $683.5K
NOI $41,012 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Explore this area
Business Placement
Demographics for 08210, NJ
17,635
Population
8,374
Households
2.1
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
68.5 sq mi
ZIP Area
257
Density / Sq Mi
$93,855
Median Household Income
$48,086
Median Earnings
$1,538
Median Rent
$337,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with natural gas heat, central air, off-street parking, and a detached garage.
Where is this office building located?
The property is located at 309 S Main Street Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,914 SF office building constructed in 1910; Approximately 57' x 240' lot in downtown Cape May Court House; Detached garage of approximately 503 SF with electric service
