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    449 Route 47 S Green Creek, NJ 08219

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    For Sale
    $375,000

    Commercial/Industrial - Green Creek, NJ

    Property size:
    9,901 SF
    Price / SF:
    $37/SF
    Added:
    Jan 2, 2025
    Days on Market:
    491
    Last Refresh:
    May 8 at 7:06 am

    Property Features for 449 Route 47 S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Interior features
    220 Volt Electricity, Hydraulic Lift, Storage
    Exterior features
    Sign
    Standard status
    Active
    Size
    9,901 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4404

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air, Natural Gas, Propane (Heating)

    Building Details

    Year built
    1955
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Block, Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Deborah A. Colubiale GRI, CRS

    Listing agent Deborah A. Colubiale GRI, CRS License #0124472

    Listing office deSatnick Real Estate LLC - Lower Township 2505 Bayshore Road, Villas, NJ

    Listing date Jan 2, 2025

    MLS# 250021 Listing URL

    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.

    HighLights

    • Two commercial buildings for the price of one.
    • Established auto repair business since 1959.
    • Additional building generates $1100/month rental income.
    • Four service bays with two hydraulic lifts.
    • High traffic visibility.
    • New roof installed 3 years ago.

    Overview

    Commercial Buildings with Auto Repair

    This property features two commercial buildings, presenting a business opportunity with high traffic visibility. The established auto repair service, founded in 1959, includes four bays, two with hydraulic lifts, an office, a waiting area, and a half bath. Two bays offer dimensions of 10 feet high by 10 feet wide with a depth of 48 feet, while the other two bays provide 9-foot high by 10-foot wide doors and a depth of 26 feet. An additional building, currently rented for $1100 per month as a storage unit, measures 24 feet by 48 feet. The property benefits from city water and city sewer services. Heating is provided by oil in the garages and propane in the bonus unit. A new roof was installed three years ago. The property is zoned commercial and situated on a 9901 square foot lot in Green Creek, NJ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Showroom Storage Facility Grocery & Convenience Store

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

    Similar Places Nearby

    • Art's Auto Services — 449 NJ-47, Green Creek, NJ 08219
    • Cape Camping RV Center — 540 S, 540 NJ-47, Cape May, NJ 08204
    • O'Briens Auto Repair LLC — 46 Bayshore Rd, Green Creek, NJ 08219
    • JC Hornbeck Automotive Repair — 9 Bayshore Rd, Villas, NJ 08251
    • King Discount Tires — 540 S, 5112, 540 NJ-47, Cape May, NJ 08204

    Location Insight

    • Map
    • Local Demand
    City
    Green Creek
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.900317
    Latitude
    39.047188

    FAQs

    What type of property is this?
    Auto shop - Two commercial buildings, one an established auto repair business.
    Where is this auto shop located?
    The property is located at 449 Route 47 S Green Creek, NJ.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Two commercial buildings for the price of one.; Established auto repair business since 1959.; Additional building generates $1100/month rental income.
    (609) 408-3679
    We can help!
    Listing Contact
    Deborah A. Colubiale GRI, CRS
    Real Estate License ID: 0124472
    Learn More
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    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
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