Convenience Store
For Sale
$549,999
780 Rt-47, Cape May Court House, NJ 08210
COMMERCIAL - Cape May Court House, NJ
Property Size2,000 SF
Lot Size1.70 Acres
Price / SF$274
Days on Market457
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
Amenities
ADT alarm system
NJ Lottery machine
Building Details
Year built
1955
Number of units
1
Flooring type
Concrete, Linoleum
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: Aug 4
Last Checked: Aug 7 at 5:06AM
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.
Grocery and convenience store building offering approximately 2,000 square feet (40x50), per Dennis Township tax assessor, situated on a 1.7-acre site. The property is currently used as a retail food market business and includes a restroom. Flooring includes concrete and linoleum, and there are two heating sources listed: propane heating and natural gas, along with central air.
The building is located on a busy corner of Route 47 and Court House-South Dennis Road in South Dennis, in zoning VC. The property includes parking in front and rear. An ADT alarm system and a NJ Lottery machine are currently on site and may be transferable upon sale of the property.
The building only is for sale and is being sold “AS IS.” Inventory, furnishings, and equipment are to be sold separately or negotiated prior to closing. Water source is listed as a well. Showings are by appointment with 48 hours’ notice, and buyers are responsible for inspections and due diligence per Dennis Township requirements.
The building is located on a busy corner of Route 47 and Court House-South Dennis Road in South Dennis, in zoning VC. The property includes parking in front and rear. An ADT alarm system and a NJ Lottery machine are currently on site and may be transferable upon sale of the property.
The building only is for sale and is being sold “AS IS.” Inventory, furnishings, and equipment are to be sold separately or negotiated prior to closing. Water source is listed as a well. Showings are by appointment with 48 hours’ notice, and buyers are responsible for inspections and due diligence per Dennis Township requirements.
Key Highlights
- Approx. 2,000 SF (40x50) convenience and grocery store building per Dennis Township tax assessor
- 1.7‑acre site with parking in front and rear
- Busy corner location on Route 47 and Court House‑South Dennis Road in South Dennis
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
Lease Details
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery and convenience store building with central air, restroom, and heating via natural gas and propane on zoning VC.
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: Approx. 2,000 SF (40x50) convenience and grocery store building per Dennis Township tax assessor; 1.7‑acre site with parking in front and rear; Busy corner location on Route 47 and Court House‑South Dennis Road in South Dennis
