Corner Grocery Store
For Sale
$549,999
780 Rt-47, Cape May Court House, NJ 08210
COMMERCIAL/INDUSTRIAL, Cape May Court House, NJ
Property Size2,000 SF
Lot Size1.70 Acres
Price / SF$274
Days on Market504
Property Features for 780 Rt-47
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
VC
Interior features
Restroom
Lot features
Corner, Highway, Mainland
Directions
on corner of Rt 47 & CH So Dennis Rd
Subdivision
Dennis Twp
Standard status
Active
Lot size
1.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8229
Utilities
Heating system
Propane (Heating), Natural Gas
Cooling system
Central Air
Water source
Well
Building Details
Year built
1955
Number of units
1
Flooring type
Linoleum, Concrete
Listing Agency:
COLDWELL BANKER JAMES C OTTON RE INC-CAPE MAY CTHS · Coldwell Banker Real Estate
(609) 463-1400
Listed By:
PAMELA BAILEY VERITY · License #8837486
(609) 425-2550
Added: May 8, 2025
Changed: Sep 13
Last Checked: Sep 23 at 10:06AM
MLS# 607633
Copyright © 2026 South Jersey Shore Regional 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 approximately 2,000-square-foot commercial building occupies a 1.7-acre property and is currently configured for use as a retail food market. The building includes a restroom, linoleum and concrete flooring, central air conditioning, and heating supported by natural gas and propane. Constructed in 1955, the property is served by a well and includes parking at both the front and rear.
The building sits at the corner of Route 47 and Court House-South Dennis Road in South Dennis. Its prior use was as a restaurant and diner, providing documented commercial food-service history in addition to the current retail market use. An ADT alarm system and NJ Lottery machine are currently on site and may be transferable, subject to agreement. Inventory, furnishings, and equipment are separate from the building and may be negotiated before closing.
The building sits at the corner of Route 47 and Court House-South Dennis Road in South Dennis. Its prior use was as a restaurant and diner, providing documented commercial food-service history in addition to the current retail market use. An ADT alarm system and NJ Lottery machine are currently on site and may be transferable, subject to agreement. Inventory, furnishings, and equipment are separate from the building and may be negotiated before closing.
Key Highlights
- Approximately 2,000 square feet on 1.7 acres
- Corner location at Route 47 and Court House‑South Dennis Road
- VC zoning
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
$30,456
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
5.54%
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%
$609,120
$609.1K
Cap Rate 7%
$435,086
$435.1K
Cap Rate 9%
$338,400
$338.4K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$2.6K −$1.30/SF
EGI
$40.6K $20.30/SF
− OpEx
−$10.2K −$5.08/SF
NOI
$30.5K $15.23/SF
Area
Cape May County, NJ
Vacancy
6.00%
Lease Rate
$21.60 /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%
$609,120
Cap Rate 7%
$435,086
Cap Rate 9%
$338,400
Alternative Uses
Best Use
Specialty Retail
$435.1K
$380.7K – $507.6K
NOI $30,456 @ 7.0% cap · market cap 5.54%
Second Best
Retail
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$612.2K
$535.7K – $714.2K
NOI $42,854 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail 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?
Grocery and convenience store - Commercial building with VC zoning, central air, a restroom, and parking areas at the front and rear.
Where is this grocery and convenience store located?
The property is located at 780 Rt-47 Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: Approximately 2,000 square feet on 1.7 acres; Corner location at Route 47 and Court House‑South Dennis Road; VC zoning
