Wantage Twp Auto
For Sale
$499,900
168 County Rd 565, Wantage Twp, NJ 07461
Three-bay garage with lifts and office space for sale.
Property Size2,000 SF
Lot Size0.53 Acres
Price / SF$249.95
Days on Market154
Property Features for 168 County Rd 565
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.53 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,735
Amenities
Central air
1 Unit Heating
Common Driveway
Corner
Driveway-Exclusive
Flat Roof
Forced Hot Air Heating
Level Lot
Wall A/C Unit(s) Cooling
Building Details
Year Built
1975
Listing Agency:
WEICHERT REALTORS
(973) 827-8899
Listed By:
TERI DEGROAT
Source:
Corcoran
Added: Mar 8
Changed: Aug 8
Last Checked: Aug 9 at 7:52AM
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 WEICHERT REALTORS
Investment Insights
Based on property information with market context.
This commercial property features a three-bay garage equipped with two lifts, a workbench, shelves, an air compressor, and a tire machine. The garage space measures approximately 42x32 feet and includes an office and storage room. An above-ground oil tank is located in the storage area. The property is suitable for automotive-related businesses and offers a highly visible location.
Key Highlights
- Highly Visible Location
- 3‑Bay Garage with 2 Lifts
- Garage Size Approximately 42x32
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
$28,547
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
5.71%
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%
$570,940
$570.9K
Cap Rate 7%
$407,814
$407.8K
Cap Rate 9%
$317,189
$317.2K
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
−$2.4K −$1.21/SF
EGI
$40.8K $20.39/SF
− OpEx
−$12.2K −$6.12/SF
NOI
$28.5K $14.27/SF
Area
Sussex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$570,940
Cap Rate 7%
$407,814
Cap Rate 9%
$317,189
Alternative Uses
Best Use
Retail
$407.8K
$356.8K – $475.8K
NOI $28,547 @ 7.0% cap · market cap 5.71%
Second Best
Industrial
$320.7K
$280.6K – $374.1K
NOI $22,448 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07461, NJ
18,530
Population
7,972
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
93%
High-School Grad
83.0 sq mi
ZIP Area
223
Density / Sq Mi
$104,441
Median Household Income
$46,590
Median Earnings
$1,456
Median Rent
$338,500
Median Home Value
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
- Faber's Garage — 27 County Rd 628, Wantage, NJ 07461
- All County Transmissions Inc. — 252-A County Rd 565, Sussex, NJ 07461
- Country Classic Auto Body — 27 County Rd 628, Wantage, NJ 07461
- The Village Smith and Cycle Works LLC — 134 Compton Rd, Wantage, NJ 07461
- K&A Towing And Recovery — 205 County Rd 565, Wantage, NJ 07461
Frequently Asked Questions
What type of property is this?
Auto shop - Three-bay garage with lifts and office space for sale.
Where is this auto shop located?
The property is located at 168 County Rd 565 Wantage Twp, NJ.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Highly Visible Location; 3‑Bay Garage with 2 Lifts; Garage Size Approximately 42x32
