41-Room Extended-Stay
For Sale
$2,800,000
6090 Black Horse, Mays Landing, NJ 08330
Commercial Sale, Mays Landing, NJ
Property Size11,464 SF
Lot Size4.41 Acres
Price / SF$244.24
Days on Market182
Property Features for 6090 Black Horse
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Black horse Pike
Standard status
Active
APN
12-00588-0000-00025
Size
11,464 SF
Lot size
4.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10525
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1944
Floors in Building
1
Listing Agency:
Keller Williams Realty Freehold
(732) 536-9010
Listed By:
Iftikhar Haq · License #0789304
(732) 769-1110
Added: Mar 10
Changed: Sep 7
Last Checked: Sep 7 at 11:06PM
MLS# 22606032
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.
Budget Inn & Suites is a 41-room hotel offering an extended-stay and limited-service lodging format. The property contains 11,464 square feet on a 4.41-acre site and was built in 1944. Water service is provided by a well, with a septic tank serving the property.
The hotel is positioned along the Black Horse Pike corridor in Mays Landing, New Jersey, with regional access and proximity to Atlantic City. Its hospitality configuration and established site provide a defined operating platform for hotel ownership.
The hotel is positioned along the Black Horse Pike corridor in Mays Landing, New Jersey, with regional access and proximity to Atlantic City. Its hospitality configuration and established site provide a defined operating platform for hotel ownership.
Key Highlights
- 41‑room extended‑stay and limited‑service hotel
- 11,464‑square‑foot hospitality property
- Situated on 4.41 acres
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
$82,334
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
2.94%
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%
$1,646,680
$1.6M
Cap Rate 7%
$1,176,200
$1.2M
Cap Rate 9%
$914,822
$914.8K
Market Conditions
NOI Build-Up for 11,464 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
$206.4K $18.00/SF
− Vacancy
−$33.0K −$2.88/SF
EGI
$173.3K $15.12/SF
− OpEx
−$91.0K −$7.94/SF
NOI
$82.3K $7.18/SF
Area
Mercer County, NJ
Vacancy
16.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,646,680
Cap Rate 7%
$1,176,200
Cap Rate 9%
$914,822
Alternative Uses
Best Use
Hotel Hospitality
$1.18M
$1.03M – $1.37M
NOI $82,334 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.69M
$3.23M – $4.30M
NOI $258,188 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 08330, NJ
29,548
Population
12,800
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
94%
High-School Grad
127.4 sq mi
ZIP Area
232
Density / Sq Mi
$82,981
Median Household Income
$40,880
Median Earnings
$1,576
Median Rent
$230,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Extended-stay and limited-service lodging property with well water and septic service.
Where is this hotel located?
The property is located at 6090 Black Horse Mays Landing, 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: 41‑room extended‑stay and limited‑service hotel; 11,464‑square‑foot hospitality property; Situated on 4.41 acres
