Leased Mixed-Use Commercial
For Sale
Contact for pricing
2004 Bayshore Road, Villas, NJ 08251
Separately metered units span two buildings with ramp access and on-site parking.
Property Size6,850 SF
Price / SF$156.93
Days on Market118
Property Features for 2004 Bayshore Road
General Information
Standard status
Active
Size
6,850 SF
Total Parking Spaces
34
Property subtype
Office, Land
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
RE/MAX Surfside
(609) 780-3938
Listed By:
Kathleen Harron · License #0447965
Source:
Crexi
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 1:46AM
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 RE/MAX Surfside
Investment Insights
Based on property information with market context.
This mixed-use commercial complex at 2004 Bayshore Road comprises six units arranged within two buildings. The front structure contains a 2,500-square-foot medical office, while three commercial suites of approximately 1,000 square feet each sit behind it with exposure to the main road. The upper level adds a renovated one-bedroom apartment and a private office suite. All units are separately metered, and ground-floor spaces include ramp access.
The property occupies nearly one acre along the Bayshore Road corridor in Villas, with access to Cape May and the Wildwoods within minutes. On-site parking has been expanded and paved to approximately 34 spaces, complemented by back-lit roadside signage. Improvements include vinyl siding installed in 2023. An approved use expansion permits five commercial units and one residential unit, and the complex is fully leased.
The property occupies nearly one acre along the Bayshore Road corridor in Villas, with access to Cape May and the Wildwoods within minutes. On-site parking has been expanded and paved to approximately 34 spaces, complemented by back-lit roadside signage. Improvements include vinyl siding installed in 2023. An approved use expansion permits five commercial units and one residential unit, and the complex is fully leased.
Key Highlights
- Six units across two buildings, including medical, commercial, office, and residential components
- 2,500‑square‑foot medical office in the front building
- Three commercial suites of approximately 1,000 square feet each
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
$61,445
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
5.72%
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%
$1,228,900
$1.2M
Cap Rate 7%
$877,786
$877.8K
Cap Rate 9%
$682,722
$682.7K
Market Conditions
NOI Build-Up for 6,850 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
$106.9K $15.60/SF
− Vacancy
−$8.5K −$1.25/SF
EGI
$98.3K $14.35/SF
− OpEx
−$36.9K −$5.38/SF
NOI
$61.4K $8.97/SF
Area
Cape May County, NJ
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,228,900
Cap Rate 7%
$877,786
Cap Rate 9%
$682,722
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $112,043 @ 7.0% cap · market cap 10.42%
Second Best
Healthcare Medical
$1.54M
$1.35M – $1.80M
NOI $107,888 @ 7.0% cap · market cap 10.04%
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,776 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 08251, NJ
10,075
Population
6,716
Households
1.5
Avg Household Size
46
Median Age
24%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,439
Density / Sq Mi
$76,433
Median Household Income
$48,341
Median Earnings
$1,468
Median Rent
$275,800
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?
Mixed-use property - Separately metered units span two buildings with ramp access and on-site parking.
Where is this mixed-use property located?
The property is located at 2004 Bayshore Road Villas, NJ.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Six units across two buildings, including medical, commercial, office, and residential components; 2,500‑square‑foot medical office in the front building; Three commercial suites of approximately 1,000 square feet each
