Office Building with Detached
For Sale
$679,000
1940 Route 9 N, Cape May Court House, NJ 08210
Commercial office property with central air, gas utilities, and an established month-to-month occupancy arrangement.
Property Size2,066 SF
Price / SF$328.65
Days on Market247
Property Features for 1940 Route 9 N
General Information
Standard status
Active
Size
2,066 SF
Taxes and HOA fees
Annual Taxes
$4,477
Listing Agency:
COASTAL ELITE REALTY
Listed By:
Francis Jannotta · License #0338121
(609) 374-1002
Source:
Exprealty
Added: Feb 11
Changed: Sep 25
Last Checked: Oct 16 at 12:10PM
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 COASTAL ELITE REALTY
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Investment Insights
Based on property information with market context.
This commercial office property includes a 2,066-square-foot professional building and a separate garage. Building systems include central air conditioning, gas-fired heat, and gas hot water. The property is served by a newer septic system and well pump.
Design Collaborative has occupied the building continuously since 2012 under a month-to-month lease. The existing occupant may remain under a new owner, subject to mutually acceptable arrangements. The property is located at 1940 Route 9 N in Cape May Court House, New Jersey.
Design Collaborative has occupied the building continuously since 2012 under a month-to-month lease. The existing occupant may remain under a new owner, subject to mutually acceptable arrangements. The property is located at 1940 Route 9 N in Cape May Court House, New Jersey.
Key Highlights
- 2,066‑square‑foot commercial office building
- Detached garage included with the property
- Design Collaborative occupancy has continued since 2012
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,793
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,860
$675.9K
Cap Rate 7%
$482,757
$482.8K
Cap Rate 9%
$375,478
$375.5K
Market Conditions
NOI Build-Up for 2,066 SF
Gross rent
$57.8K $27.96/SF
− Vacancy
−$12.7K −$6.15/SF
EGI
$45.1K $21.81/SF
− OpEx
−$11.3K −$5.45/SF
NOI
$33.8K $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 Rate 5%
$675,860
Cap Rate 7%
$482,757
Cap Rate 9%
$375,478
Alternative Uses
Best Use
Office B
$482.8K
$422.4K – $563.2K
NOI $33,793 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$632.4K
$553.4K – $737.8K
NOI $44,269 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Commercial office property with central air, gas utilities, and an established month-to-month occupancy arrangement.
Where is this office building located?
The property is located at 1940 Route 9 N Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 2,066‑square‑foot commercial office building; Detached garage included with the property; Design Collaborative occupancy has continued since 2012
