School Building on
For Sale
$4,900,000
110 S New York Road, Galloway, NJ 08205
Commercial Sale, Galloway, NJ
Property Size17,000 SF
Lot Size4.04 Acres
Price / SF$288.24
Days on Market95
Property Features for 110 S New York Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Commercial
Parking features
Off Street
Lot features
Highway Frontage
Directions
google maps
Standard status
Active
APN
11-01260-01-00024-02
Size
17,000 SF
Lot size
4.04 Acres
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Building Details
Year built
1998
Floors in Building
1
Listing Agency:
HomeSmart First Advantage
(732) 352-1000
Listed By:
Resa Shapiro · License #1542715
(786) 985-1081
Added: Jun 9
Changed: Sep 5
Last Checked: Sep 11 at 7:06AM
MLS# 22617329
Copyright © 2026 More 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 school-classified property includes a 17,000-square-foot building on 4.04 acres. The structure is identified as under construction and includes central air, off-street parking, well water, and a septic tank system. HD-1 zoning is in place.
The property is described for potential use as a school, office, lodging facility, or residential care facility. Its physical scale and acreage provide the primary documented characteristics for evaluating those configurations. The address is 110 S New York Road in Galloway, New Jersey, within Atlantic County.
The property is described for potential use as a school, office, lodging facility, or residential care facility. Its physical scale and acreage provide the primary documented characteristics for evaluating those configurations. The address is 110 S New York Road in Galloway, New Jersey, within Atlantic County.
Key Highlights
- 17,000‑square‑foot building on 4.04 acres
- HD‑1 zoning
- Property condition identified as under construction
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
$249,069
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
5.08%
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%
$4,981,380
$5.0M
Cap Rate 7%
$3,558,129
$3.6M
Cap Rate 9%
$2,767,433
$2.8M
Market Conditions
NOI Build-Up for 17,000 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
$454.9K $26.76/SF
− Vacancy
−$122.8K −$7.23/SF
EGI
$332.1K $19.53/SF
− OpEx
−$83.0K −$4.88/SF
NOI
$249.1K $14.65/SF
Area
Atlantic County, NJ
Vacancy
27.00%
Lease Rate
$26.76 /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%
$4,981,380
Cap Rate 7%
$3,558,129
Cap Rate 9%
$2,767,433
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $249,069 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.33M
$5.54M – $7.39M
NOI $443,148 @ 7.0% cap · market cap 9.04%
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
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 08205, NJ
28,666
Population
11,660
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
681
Density / Sq Mi
$88,636
Median Household Income
$45,611
Median Earnings
$1,527
Median Rent
$263,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
School - The property has HD-1 zoning, central air, off-street parking, well water, and septic service.
Where is this school located?
The property is located at 110 S New York Road Galloway, NJ.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 17,000‑square‑foot building on 4.04 acres; HD‑1 zoning; Property condition identified as under construction
