Corner Office
For Sale
$369,900
118 N Bay, Beach Haven, NJ 08008
The property offers air conditioning, on-street parking, and a Central Business District setting.
Property Size800 SF
Price / SF$462.38
Days on Market256
Property Features for 118 N Bay
General Information
Standard status
Active
Size
800 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,156
Amenities
A/C - Other
3
Flat, Shingle
B-D
Parking. Corner Lot.
On Street.
Central Business District, Corner, Paved Road.
Building Details
Year Built
1920
Listing Agency:
Oceanside Realty
(609) 618-9341
Listed By:
Renee Houghton
(609) 618-9341
Source:
Xome
Added: Dec 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:16AM
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 Oceanside Realty
Investment Insights
Based on property information with market context.
This office building dates to 1920 and sits on a corner lot in Beach Haven’s Central Business District. The property includes air conditioning, a flat shingle exterior, and access from a paved road.
Located at 118 N Bay, the property also provides on-street parking. The available information identifies the asset for office use and does not establish additional interior or operating details.
Located at 118 N Bay, the property also provides on-street parking. The available information identifies the asset for office use and does not establish additional interior or operating details.
Key Highlights
- Central Business District location at 118 N Bay, Beach Haven, NJ 08008
- Built in 1920
- Corner lot with paved‑road access
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
$12,240
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
3.31%
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%
$244,800
$244.8K
Cap Rate 7%
$174,857
$174.9K
Cap Rate 9%
$136,000
$136.0K
Market Conditions
NOI Build-Up for 800 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
$24.0K $30.00/SF
− Vacancy
−$7.7K −$9.60/SF
EGI
$16.3K $20.40/SF
− OpEx
−$4.1K −$5.10/SF
NOI
$12.2K $15.30/SF
Area
Ocean County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$244,800
Cap Rate 7%
$174,857
Cap Rate 9%
$136,000
Alternative Uses
Best Use
Office B
$174.9K
$153.0K – $204.0K
NOI $12,240 @ 7.0% cap · market cap 3.31%
Second Best
Retail
$163.1K
$142.7K – $190.3K
NOI $11,419 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$208.9K
$182.8K – $243.7K
NOI $14,623 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 08008, NJ
6,914
Population
16,979
Households
0.4
Avg Household Size
62
Median Age
64%
College-Educated
97%
High-School Grad
10.8 sq mi
ZIP Area
640
Density / Sq Mi
$116,544
Median Household Income
$60,752
Median Earnings
$1,664
Median Rent
$1,083,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - The property offers air conditioning, on-street parking, and a Central Business District setting.
Where is this office building located?
The property is located at 118 N Bay Beach Haven, NJ.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Central Business District location at 118 N Bay, Beach Haven, NJ 08008; Built in 1920; Corner lot with paved‑road access
