3-Bay Automotive Service
New
For Sale
$724,900
2539 NOTTINGHAM WAY, Hamilton, NJ 08619
A month-to-month automotive tenant occupies the building, which has a paved area for service work and parking.
Property Size2,367 SF
Price / SF$306.25
Days on Market5
Property Features for 2539 NOTTINGHAM WAY
General Information
Standard status
Active
Size
2,367 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Road Access
Yes
Service Bays
3
Amenities
waiting area
customer powder room
employee powder and laundry room
supply room
Building Details
Year Built
1967
Buildings
1
Tenancy
Single
Abandoned
No
Listing Agency:
David DePaola and Company Real Estate
(609) 883-4161
Listed By:
David DePaola · License #RM425333
(609) 731-0581
Source:
Cummingsrealtors
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:15PM
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 David DePaola and Company Real Estate
Investment Insights
Based on property information with market context.
Built in 1967, this 2,367-square-foot automotive service property has three bays and a waiting area, customer powder room, employee powder room with laundry, and supply room. The building has a new roof and exterior paint, and its concrete walkways have been repaired or replaced. Dual-post 10,000lb Challenger lifts are being installed in place of the existing in-ground hydraulic lifts.
A large paved area serves the property’s automotive service and parking functions. The site is on Nottingham Way in Hamilton, New Jersey. An automotive tenant currently occupies the building under a month-to-month lease.
A large paved area serves the property’s automotive service and parking functions. The site is on Nottingham Way in Hamilton, New Jersey. An automotive tenant currently occupies the building under a month-to-month lease.
Key Highlights
- Three‑bay automotive service facility with 2,367 square feet
- Dual post 10,000lb Challenger lifts are being installed
- New roof and exterior paint; concrete walkways repaired or replaced
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
$44,283
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
6.11%
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%
$885,660
$885.7K
Cap Rate 7%
$632,614
$632.6K
Cap Rate 9%
$492,033
$492.0K
Market Conditions
NOI Build-Up for 2,367 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
$68.2K $28.80/SF
− Vacancy
−$4.9K −$2.07/SF
EGI
$63.3K $26.73/SF
− OpEx
−$19.0K −$8.02/SF
NOI
$44.3K $18.71/SF
Area
Mercer County, NJ
Vacancy
7.20%
Lease Rate
$28.80 /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%
$885,660
Cap Rate 7%
$632,614
Cap Rate 9%
$492,033
Alternative Uses
Best Use
Industrial
$632.6K
$553.5K – $738.1K
NOI $44,283 @ 7.0% cap · market cap 6.11%
Second Best
Retail
$505.7K
$442.5K – $589.9K
NOI $35,396 @ 7.0% cap · market cap 4.88%
Theoretical Best
Warehouse
$761.6K
$666.4K – $888.5K
NOI $53,309 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Service bays
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08619, NJ
23,301
Population
9,761
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,330
Density / Sq Mi
$104,922
Median Household Income
$56,772
Median Earnings
$1,712
Median Rent
$320,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - A month-to-month automotive tenant occupies the building, which has a paved area for service work and parking.
Where is this auto shop located?
The property is located at 2539 NOTTINGHAM WAY Hamilton, NJ.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Three‑bay automotive service facility with 2,367 square feet; Dual post 10,000lb Challenger lifts are being installed; New roof and exterior paint; concrete walkways repaired or replaced
