Fully Leased Mixed-Use
For Sale
Under Contract
$1,000,000
2004 Bayshore Road, Villas, NJ 08251
COMMERCIAL/INDUSTRIAL, Villas, NJ
Property Size6,850 SF
Lot Size0.98 Acres
Price / SF$145.99
Days on Market47
Property Features for 2004 Bayshore Road
General Information
Property type
Residential
Property subtype
Office
Zoning
GB
Rooms
Office
Parking features
Off Street
Interior features
Handicap Features, Living Space Available, Restroom
Exterior features
Sign
Accessibility
Accessible Approach with Ramp
Lot features
Mainland
Subdivision
Villas
Standard status
Active Under Contract
Size
6,850 SF
Lot size
0.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13552
Utilities
Heating system
Natural Gas, Electric (Heating), Propane (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Number of units
6
Flooring type
Carpet - Partial, Linoleum
Listing Agency:
RE/MAX SURFSIDE
(609) 884-4242
Listed By:
Kathleen Harron · License #0447965
(609) 780-3938
Added: Jul 13
Changed: Aug 27
Last Checked: Aug 28 at 5:06PM
MLS# 261896
Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains five commercial units and one residential apartment, with all spaces currently occupied. Improvements completed since 2022 include new siding, illuminated signage, expanded parking, parking lot work, and renovations to the second-floor office and one-bedroom apartment. The property also includes restrooms, central air, off-street parking, partial carpet and linoleum flooring, and an accessible approach with ramp.
Situated at 2004 Bayshore Road in Villas, New Jersey, the property occupies 0.975 acres and carries GB zoning. Commercial occupants include a physician, chiropractor, real estate office, and linen company, alongside the residential apartment. Water is supplied by a well, with natural gas, electric, and propane heating systems identified for the property.
Situated at 2004 Bayshore Road in Villas, New Jersey, the property occupies 0.975 acres and carries GB zoning. Commercial occupants include a physician, chiropractor, real estate office, and linen company, alongside the residential apartment. Water is supplied by a well, with natural gas, electric, and propane heating systems identified for the property.
Key Highlights
- Five commercial units plus one residential apartment, all currently occupied
- 0.975‑acre mixed‑use property at 2004 Bayshore Road, Villas, NJ 08251
- GB zoning designation
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
6.14%
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 11.20%
Second Best
Healthcare Medical
$1.54M
$1.35M – $1.80M
NOI $107,888 @ 7.0% cap · market cap 10.79%
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,776 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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 - Occupied commercial and residential spaces combine with updated offices, parking improvements, signage, and accessible entry features.
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 $1,000,000.
What are key features of this property?
This property features: Five commercial units plus one residential apartment, all currently occupied; 0.975‑acre mixed‑use property at 2004 Bayshore Road, Villas, NJ 08251; GB zoning designation
