Auto Shop with Six Working
For Sale
$1,299,000
105 Fulling Mill Road, Villas, NJ 08251
COMMERCIAL/INDUSTRIAL, Villas, NJ
Property Size4,250 SF
Price / SF$305.65
Days on Market139
Property Features for 105 Fulling Mill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB
Lot features
Mainland
Subdivision
Villas
Standard status
Active
Size
4,250 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5857
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Amenities
customer waiting area
reception area
office with kitchenette
security cameras
Listing Agency:
JERSEY CAPE REALTY
(609) 884-5800
Listed By:
James M. Cheney · License #9700084
(609) 408-1948
Added: May 5
Changed: Sep 13
Last Checked: Sep 20 at 4:06PM
MLS# 261224
Copyright © 2026 Cape May County Association of Realtors. 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 auto shop combines a body repair operation with full-service mechanical work in a 4,250-square-foot building. The property includes six working bays, a customer waiting area, reception desk, back office with kitchenette, and dedicated production areas for frame work, alignment, painting, and paint mixing. Business operations, real estate, and equipment are included in the offering, with the current owners willing to provide a transition period.
Equipment includes a Chief EZ Liner frame machine, John Bean four-post alignment drive-on lift with computer, Rotary two-post lift, Paint Master down-draft bake-cycle spray booth, and BASF and AkzoNobel paint mixing systems. A fenced yard is secured by 24-hour Lorex security cameras. The property is zoned GB and occupies a corner location near the intersection of Fulling Mill Road and Bayshore Road in Villas, New Jersey.
Equipment includes a Chief EZ Liner frame machine, John Bean four-post alignment drive-on lift with computer, Rotary two-post lift, Paint Master down-draft bake-cycle spray booth, and BASF and AkzoNobel paint mixing systems. A fenced yard is secured by 24-hour Lorex security cameras. The property is zoned GB and occupies a corner location near the intersection of Fulling Mill Road and Bayshore Road in Villas, New Jersey.
Key Highlights
- 4,250‑square‑foot auto shop with six working bays
- Body shop and full‑service mechanical repair business included with real estate and equipment
- Chief EZ Liner frame machine and John Bean four‑post alignment drive‑on lift
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
$49,266
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
3.79%
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%
$985,320
$985.3K
Cap Rate 7%
$703,800
$703.8K
Cap Rate 9%
$547,400
$547.4K
Market Conditions
NOI Build-Up for 4,250 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
$76.5K $18.00/SF
− Vacancy
−$6.1K −$1.44/SF
EGI
$70.4K $16.56/SF
− OpEx
−$21.1K −$4.97/SF
NOI
$49.3K $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%
$985,320
Cap Rate 7%
$703,800
Cap Rate 9%
$547,400
Alternative Uses
Best Use
Retail
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 3.79%
Second Best
Industrial
$375.5K
$328.6K – $438.1K
NOI $26,285 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,066 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Service bays
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
22k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 99%
Dining 1%
Wawa
Shops & Services
21,898 visits/mo
0.1 miles
Momiji
Dining
196 visits/mo
0.4 miles
Demographics for 08251, NJ
10,075
Population
6,716
Households
1.5
Avg Household Size
46
Median Age
24%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,439
Density / Sq Mi
$76,433
Median Household Income
$48,341
Median Earnings
$1,468
Median Rent
$275,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cape County Glass — 24 Fulling Mill Rd, Villas, NJ 08251
- Brent's Auto Care — 302 Fulling Mill Rd, Villas, NJ 08251
- John's Auto Body — 105 Fulling Mill Rd, Villas, NJ 08251
- Chuck Hearon RV Specialist — 414 E St Johns Ave, Villas, NJ 08251
- Jim's Auto Services — Bayshore Rd, Villas, NJ 08251
Frequently Asked Questions
What type of property is this?
Auto shop - Established body shop and mechanical repair business with real estate, equipment, customer areas, and fenced yard included.
Where is this auto shop located?
The property is located at 105 Fulling Mill Road Villas, NJ.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 4,250‑square‑foot auto shop with six working bays; Body shop and full‑service mechanical repair business included with real estate and equipment; Chief EZ Liner frame machine and John Bean four‑post alignment drive‑on lift
