Mixed-Use Market and
For Sale
$1,600,000
100 E 24th Ave, North Wildwood, NJ 08260
Commercial storefront with six residential rental units and included equipment.
Property Size4,000 SF
Price / SF$400
Days on Market53
Property Features for 100 E 24th Ave
General Information
Standard status
Active
Size
4,000 SF
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Year Built
1930
Buildings
1
Listing Agency:
BHHS Fox & Roach-Washington-Gloucester
Listed By:
Andrew T Baus · License #1433687
(856) 904-5636
Source:
Bernadetteaugello
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 19 at 1:03PM
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 BHHS Fox & Roach-Washington-Gloucester
Investment Insights
Based on property information with market context.
This mixed-use property combines a currently operating family market and deli with six residential rental units. The commercial space is conveyed fully furnished with all equipment and is configured for continued market and deli operations or occupancy by another business or rental tenant. The residential units are located above and behind the storefront, creating a combined commercial and residential layout within one building.
Located at 100 E 24th Avenue in North Wildwood, the property is positioned in a shore-town setting near beaches, the boardwalk, dining, and seasonal attractions. The building dates to 1930 and offers an established mixed-use configuration with both storefront and residential components.
Located at 100 E 24th Avenue in North Wildwood, the property is positioned in a shore-town setting near beaches, the boardwalk, dining, and seasonal attractions. The building dates to 1930 and offers an established mixed-use configuration with both storefront and residential components.
Key Highlights
- Mixed‑use building with a currently operating family market and deli
- Six residential rental units located above and behind the storefront
- Commercial space conveyed fully furnished with all equipment
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
$60,912
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
3.81%
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%
$1,218,240
$1.2M
Cap Rate 7%
$870,171
$870.2K
Cap Rate 9%
$676,800
$676.8K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$5.2K −$1.30/SF
EGI
$81.2K $20.30/SF
− OpEx
−$20.3K −$5.08/SF
NOI
$60.9K $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%
$1,218,240
Cap Rate 7%
$870,171
Cap Rate 9%
$676,800
Alternative Uses
Best Use
Specialty Retail
$870.2K
$761.4K – $1.02M
NOI $60,912 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$777.5K
$680.3K – $907.1K
NOI $54,424 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,709 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefront with six residential rental units and included equipment.
Where is this mixed-use property located?
The property is located at 100 E 24th Ave North Wildwood, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Mixed‑use building with a currently operating family market and deli; Six residential rental units located above and behind the storefront; Commercial space conveyed fully furnished with all equipment
