Medical Office Building with Route 9
For Sale
$1,150,000
1173 S Rte. 9, Cape May Court House, NJ 08210
COMMERCIAL/INDUSTRIAL, Cape May Court House, NJ
Property Size2,700 SF
Price / SF$425.93
Days on Market383
Property Features for 1173 S Rte. 9
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CB
Directions
Rte. 9 South between Exit 9 and Exit 6
Subdivision
Middle Twp
Standard status
Active
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11041
Listing Agency:
FORESITE COMMERCIAL REALTY
(609) 646-1919
Listed By:
SAMANTHA ZERAFA ROESSLER · License #0786665
(609) 816-1517
Added: Aug 25, 2025
Changed: Sep 2
Last Checked: Sep 11 at 3:06PM
MLS# 600351
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.
The property includes a medical office building containing approximately 2,700+/- sf, with an existing layout associated with a former veterinary office. On-site parking accommodates 25+/- vehicles, supporting customer and staff access.
The building fronts Route 9 South with 150 feet of frontage and visibility from the Garden State Parkway. CB zoning applies to the property, which is located in Cape May Court House, New Jersey.
The building fronts Route 9 South with 150 feet of frontage and visibility from the Garden State Parkway. CB zoning applies to the property, which is located in Cape May Court House, New Jersey.
Key Highlights
- Approximately 2,700+/- sf medical office building
- 150 feet of frontage on Route 9 South
- Visibility from the Garden State Parkway
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
$44,163
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
3.84%
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%
$883,260
$883.3K
Cap Rate 7%
$630,900
$630.9K
Cap Rate 9%
$490,700
$490.7K
Market Conditions
NOI Build-Up for 2,700 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
$75.5K $27.96/SF
− Vacancy
−$16.6K −$6.15/SF
EGI
$58.9K $21.81/SF
− OpEx
−$14.7K −$5.45/SF
NOI
$44.2K $16.36/SF
Area
Cape May County, NJ
Vacancy
22.00%
Lease Rate
$27.96 /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%
$883,260
Cap Rate 7%
$630,900
Cap Rate 9%
$490,700
Alternative Uses
Best Use
Office B
$630.9K
$552.0K – $736.1K
NOI $44,163 @ 7.0% cap · market cap 3.84%
Second Best
Healthcare Medical
$607.5K
$531.6K – $708.8K
NOI $42,525 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$826.5K
$723.2K – $964.2K
NOI $57,853 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
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
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
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Similar Off Market Nearby
- Parkway Veterinary Hospital — 1173 Rte 9 S, Cape May Court House, NJ 08210
- Grant Chris DVM — 1173 US-9 South, Cape May Court House, NJ 08210
- Dea Kira DVM — 1173 US-9, Cape May Court House, NJ 08210
- Mosson Clifford F DVM — 1173 US-9 South, Cape May Court House, NJ 08210
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing office improvements include on-site parking and visibility from the Garden State Parkway.
Where is this medical office space located?
The property is located at 1173 S Rte. 9 Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately 2,700+/- sf medical office building; 150 feet of frontage on Route 9 South; Visibility from the Garden State Parkway
