Building Details

Additional Structures Outbuilding

Listing Agency: Mezzina Real Estate Show Phone

Listed By: Michael Eagan · License #8938504 Show Phone

Added: Aug 12 Changed: Oct 2 Last Checked: Oct 6 at 8:06PM

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MLS# 22624977

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,267

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$465,340 $465.3K

Cap Rate 7%

$332,386 $332.4K

Cap Rate 9%

$258,522 $258.5K

Market Conditions

NOI Build-Up for 1,513 SF

Gross rent

$45.4K $30.00/SF

− Vacancy

−$3.1K −$2.04/SF

EGI

$42.3K $27.96/SF

− OpEx

−$19.0K −$12.58/SF

NOI

$23.3K $15.38/SF

Area

Ocean County, NJ

Vacancy

6.80%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$465,340

Cap Rate 7%

$332,386

Cap Rate 9%

$258,522

Alternative Uses

Best Use

Apartment 5plus

$332.4K

$290.8K – $387.8K (±1% cap)

NOI $23,267 @ 7.0% cap · market cap 5.47%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$395.1K

$345.7K – $460.9K (±1% cap)

NOI $27,655 @ 7.0% cap · market cap 6.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

73

Businesses Nearby

Explore this area Business Placement

Demographics for 08087, NJ

25,191

Population

12,982

Households

1.9

Avg Household Size

49

Median Age

28%

College-Educated

94%

High-School Grad

70.1 sq mi

ZIP Area

359

Density / Sq Mi

$87,449

Median Household Income

$47,779

Median Earnings

$1,760

Median Rent

$323,500

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

Where is this commercial land located?

The property is located at 696 Route 9 S Little Egg Harbor, NJ.

What is the asking price?

The asking price for this property is $425,000.