Flex Space with
For Sale
$799,000
361 Main Street, West Creek, NJ 08092
Commercial Sale, West Creek, NJ
Property Size2,700 SF
Lot Size1.85 Acres
Price / SF$295.93
Days on Market143
Property Features for 361 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Professional, General Highway, Commercial
Rooms
Basement
Parking
20
Parking features
Off Street, Open, Paved or Surfaced
Basement
Partial
Lot features
Highway Frontage
Directions
On Route 9 across from Murphy Dr.
Subdivision
West Creek
Standard status
Active
APN
09-00025-01-00008
Lot size
1.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13119
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Floors in Building
2
Listing Agency:
Berkshire Hathaway HomeServices Zack Shore Realtors
(609) 597-6464
Listed By:
Curtis Lee · License #0569686
(609) 709-2866
Added: Apr 15
Changed: Sep 1
Last Checked: Sep 4 at 10:06AM
MLS# 22610638
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 flex property combines an approximately 1,700-square-foot office and showroom with a clear-span interior and vaulted ceilings. An approximately 960-square-foot mezzanine brings the main building to approximately 2,700 square feet, complemented by a 16-by-18-foot workshop and a separate storage shed. Forced-air heat, central air, a basement, and paved open parking for approximately 25 vehicles are included.
The approximately 1.85-acre parcel provides 265 feet of Route 9 frontage and measures approximately 265 by 294 feet. The building is positioned near the middle of the lot, with space identified for possible expansion. C-2 zoning supports a range of commercial uses, while the prior owner initiated an application for a 72-by-60-foot pole barn addition. Any expansion, permitted use, zoning interpretation, or required approvals should be independently verified by the buyer.
The approximately 1.85-acre parcel provides 265 feet of Route 9 frontage and measures approximately 265 by 294 feet. The building is positioned near the middle of the lot, with space identified for possible expansion. C-2 zoning supports a range of commercial uses, while the prior owner initiated an application for a 72-by-60-foot pole barn addition. Any expansion, permitted use, zoning interpretation, or required approvals should be independently verified by the buyer.
Key Highlights
- Approximately 1.85 acres with 265 feet of Route 9 frontage
- Approximately 2,700 SF total, including a 1,700 SF office/showroom and 960 SF mezzanine
- Clear‑span main area with vaulted ceilings
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
$41,310
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
5.17%
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%
$826,200
$826.2K
Cap Rate 7%
$590,143
$590.1K
Cap Rate 9%
$459,000
$459.0K
Market Conditions
NOI Build-Up for 2,700 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
$81.0K $30.00/SF
− Vacancy
−$25.9K −$9.60/SF
EGI
$55.1K $20.40/SF
− OpEx
−$13.8K −$5.10/SF
NOI
$41.3K $15.30/SF
Area
Ocean County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$826,200
Cap Rate 7%
$590,143
Cap Rate 9%
$459,000
Alternative Uses
Best Use
Office B
$590.1K
$516.4K – $688.5K
NOI $41,310 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$550.5K
$481.7K – $642.3K
NOI $38,538 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$705.0K
$616.9K – $822.5K
NOI $49,352 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 08092, NJ
3,596
Population
1,475
Households
2.4
Avg Household Size
44
Median Age
36%
College-Educated
96%
High-School Grad
22.9 sq mi
ZIP Area
157
Density / Sq Mi
$97,058
Median Household Income
$57,931
Median Earnings
$1,408
Median Rent
$473,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable office and showroom property with workshop, mezzanine, paved parking, and C-2 commercial zoning.
Where is this flex space located?
The property is located at 361 Main Street West Creek, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 1.85 acres with 265 feet of Route 9 frontage; Approximately 2,700 SF total, including a 1,700 SF office/showroom and 960 SF mezzanine; Clear‑span main area with vaulted ceilings
