Commercial Building on Busy
For Sale
$549,999
780 Route 47 N, Cape May Court House, NJ 08210
Retail food market building on a desirable 1.7-acre corner lot.
Property Size2,000 SF
Lot Size1.70 Acres
Price / SF$274
Days on Market472
Property Features for 780 Route 47 N
General Information
Standard status
Active
Size
2,000 SF
Lot size
1.70 Acres
Taxes and HOA fees
Annual Taxes
$7,317
Listing Agency:
Coldwell Banker James C Otton Real Estate - CMCH
(609) 576-3178
Listed By:
Diane V. Walker · License #8831111
(609) 576-3178
Source:
Exprealty
Added: May 8, 2025
Changed: Aug 20
Last Checked: Aug 21 at 1:38PM
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 Coldwell Banker James C Otton Real Estate - CMCH
Investment Insights
Based on property information with market context.
This commercial building, approximately 2,000 square feet (40x50 per Dennis Twp. Tax assessor), is currently used as a retail food market business. Located on the busy corner of Route 47 and Court House-South Dennis Road in South Dennis, it offers many possibilities for a business. The property is situated on a 1.7-acre lot. Previously, the building was used as a restaurant/diner for many years. An ADT alarm system and a NJ Lottery machine are currently in place, which may be transferable upon the sale of the property. The sale includes the building only, with ample parking available in the front and rear. Inventory, furnishings, and equipment are to be sold separately or negotiated prior to closing. The property is to be sold "AS IS", with buyers responsible for all inspections and due diligence inspections as per Dennis Township requirements.
Key Highlights
- High‑traffic corner location on Route 47 and Court House‑South Dennis Road.
- Versatile 2,000 sq ft commercial building suitable for various businesses.
- Large 1.7‑acre lot with ample parking in front and rear.
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
$30,456
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
5.54%
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%
$609,120
$609.1K
Cap Rate 7%
$435,086
$435.1K
Cap Rate 9%
$338,400
$338.4K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$2.6K −$1.30/SF
EGI
$40.6K $20.30/SF
− OpEx
−$10.2K −$5.08/SF
NOI
$30.5K $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%
$609,120
Cap Rate 7%
$435,086
Cap Rate 9%
$338,400
Alternative Uses
Best Use
Specialty Retail
$435.1K
$380.7K – $507.6K
NOI $30,456 @ 7.0% cap · market cap 5.54%
Second Best
Retail
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$612.2K
$535.7K – $714.2K
NOI $42,854 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail food market building on a desirable 1.7-acre corner lot.
Where is this grocery and convenience store located?
The property is located at 780 Route 47 N Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: High‑traffic corner location on Route 47 and Court House‑South Dennis Road.; Versatile 2,000 sq ft commercial building suitable for various businesses.; Large 1.7‑acre lot with ample parking in front and rear.
