Vernon Township Commercial Property For
For Sale
$599,000
276 State Rt 94, Vernon, NJ 07462
Commercial property in Vernon Township with high visibility and road traffic.
Property Size2,985 SF
Lot Size0.64 Acres
Price / SF$200.67
Days on Market179
Property Features for 276 State Rt 94
General Information
Standard status
Active
Size
2,985 SF
Lot size
0.64 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,178
Amenities
Central air
Asphalt Shingle Roof
Blacktop Driveway
Central Air Cooling
Forced Hot Air Heating
Multi-Zone Cooling
Multi-Zone Heating
Open Lot
Parking Lot-Exclusive
Building Details
Year Built
1960
Listing Agency:
TERRIE O'CONNOR REALTORS
(973) 838-0100
Listed By:
DEBRA ZYSKOWSKI · License #1539962
Source:
Corcoran
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
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 TERRIE O'CONNOR REALTORS
Investment Insights
Based on property information with market context.
Located in the McAfee section of Vernon Township, this commercial property is near the Mountain Creek Ski Resort. The building contains three units, two of which are currently rented. The current tenants include an orthodontist/medical practice and a beauty/massage business. One unit is vacant and available for rent. The property is suitable for investors or business owners looking to collect rent while operating their own business. The available unit is suitable for medical, retail, beauty, skin care, or salon businesses. All three units have private bathrooms and easy access with no stairs. There is an additional vacant space upstairs that could be used for storage or converted into an apartment. The building is well-maintained and situated in a peaceful setting with ample parking. The property offers high road traffic and visibility.
Key Highlights
- High road traffic and visibility in the McAfee section of Vernon Township.
- Proximity to Mountain Creek Ski Resort.
- Three units in a well‑maintained building; two currently rented, providing immediate income.
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
$41,887
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
6.99%
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%
$837,740
$837.7K
Cap Rate 7%
$598,386
$598.4K
Cap Rate 9%
$465,411
$465.4K
Market Conditions
NOI Build-Up for 2,985 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
$65.6K $21.96/SF
− Vacancy
−$9.7K −$3.25/SF
EGI
$55.8K $18.71/SF
− OpEx
−$14.0K −$4.68/SF
NOI
$41.9K $14.03/SF
Area
Camden County, NJ
Vacancy
14.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$837,740
Cap Rate 7%
$598,386
Cap Rate 9%
$465,411
Alternative Uses
Best Use
Office B
$598.4K
$523.6K – $698.1K
NOI $41,887 @ 7.0% cap · market cap 6.99%
Second Best
Healthcare Medical
$523.2K
$457.8K – $610.4K
NOI $36,622 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$756.9K
$662.3K – $883.0K
NOI $52,980 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07462, NJ
6,670
Population
3,589
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
392
Density / Sq Mi
$99,125
Median Household Income
$57,154
Median Earnings
$1,614
Median Rent
$252,600
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?
Medical Office Space - Commercial property in Vernon Township with high visibility and road traffic.
Where is this medical office space located?
The property is located at 276 State Rt 94 Vernon, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: High road traffic and visibility in the McAfee section of Vernon Township.; Proximity to Mountain Creek Ski Resort.; Three units in a well‑maintained building; two currently rented, providing immediate income.
