Corner Retail Restaurant
For Sale
$249,900
10-1121 Route 47 S, Rio Grande, NJ 08242
Corner storefront offers large windows, two entrances, and ample parking in a Route 47 business district.
Property Size1,300 SF
Price / SF$192.23
Days on Market144
Property Features for 10-1121 Route 47 S
General Information
Standard status
Active
Size
1,300 SF
Zoning
TC
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,473
Listing Agency:
Rio Realty
(609) 886-2326
Listed By:
John E Renteria
(609) 222-1561
Source:
Exprealty
Added: Apr 16
Changed: Aug 21
Last Checked: Sep 5 at 1:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rio Realty
Investment Insights
Based on property information with market context.
This corner retail/restaurant space features two customer/visitor entrances and large windows for strong natural light. The unit is designed for storefront visibility and direct access from the street-facing frontage.
Located on Route 47 South in the heart of Rio Grande’s busy business district, the property benefits from a large parking lot with ample parking. Public remarks indicate an adjacent complex with a new movie theatre nearby.
Town Center (TC) zoning permits a range of commercial uses, including retail sales, service uses, restaurants, professional and business offices, and health care facilities and services.
Located on Route 47 South in the heart of Rio Grande’s busy business district, the property benefits from a large parking lot with ample parking. Public remarks indicate an adjacent complex with a new movie theatre nearby.
Town Center (TC) zoning permits a range of commercial uses, including retail sales, service uses, restaurants, professional and business offices, and health care facilities and services.
Key Highlights
- Approx. 1,300 SF corner unit storefront with large windows for customer/client lighting
- Two customer/client entrances from the corner
- Large on‑site parking lot with ample parking
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
$15,070
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
6.03%
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%
$301,400
$301.4K
Cap Rate 7%
$215,286
$215.3K
Cap Rate 9%
$167,444
$167.4K
Market Conditions
NOI Build-Up for 1,300 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
$23.4K $18.00/SF
− Vacancy
−$1.9K −$1.44/SF
EGI
$21.5K $16.56/SF
− OpEx
−$6.5K −$4.97/SF
NOI
$15.1K $11.59/SF
Area
Cape May County, NJ
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$301,400
Cap Rate 7%
$215,286
Cap Rate 9%
$167,444
Alternative Uses
Best Use
Retail
$215.3K
$188.4K – $251.2K
NOI $15,070 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.9K
$348.2K – $464.3K
NOI $27,855 @ 7.0% cap · market cap 11.15%
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
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 08242, NJ
4,067
Population
2,083
Households
2
Avg Household Size
47
Median Age
31%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
847
Density / Sq Mi
$97,831
Median Household Income
$34,290
Median Earnings
$1,486
Median Rent
$306,200
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?
Retail space - Corner storefront offers large windows, two entrances, and ample parking in a Route 47 business district.
Where is this retail space located?
The property is located at 10-1121 Route 47 S Rio Grande, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Approx. 1,300 SF corner unit storefront with large windows for customer/client lighting; Two customer/client entrances from the corner; Large on‑site parking lot with ample parking
