Mixed-Use Property with
For Sale
$549,900
29 South Street, Lanoka Harbor, NJ 08734
Commercial Sale, Lanoka Harbor, NJ
Property Size3,492 SF
Lot Size0.66 Acres
Price / SF$157.47
Days on Market55
Property Features for 29 South Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional, Multi-Use, Mixed, Commercial
Rooms
Basement
Parking
16
Parking features
Assigned
Window features
Low-e Window Coating
Interior features
Handicapped
Exterior features
Lighting, Outdoor Shower
Basement
Partial
Accessibility
Accessible Approach with Ramp
Lot features
Level, Wooded, Curbing, Landscaped, Sidewalks, Corner Lot
Directions
Route 9 to South Street
Subdivision
Lanoka Harbor
Standard status
Active
APN
13-00739-0000-00019
Size
3,492 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14124
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Electric
Water source
Public, Well
Building Details
Year built
1817
Floors in Building
2
Flooring type
Linoleum, Wood, Vinyl, Tile
Building materials
Block, Brick, Concrete, Stone
Roof type
Asphalt
Listing Agency:
Better Homes and Gardens Real Estate Murphy & Co
Listed By:
Joseph DeYonker
(609) 693-4600
Added: Jul 14
Changed: Sep 4
Last Checked: Sep 6 at 2:06PM
MLS# 22621738
Copyright © 2026 More MLS. 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 offers a flexible configuration for office, residential, or combined live-work use. The site includes a primary building, garage, and an additional bonus structure, providing several functional areas for occupants or business operations. Interior finishes include wood, vinyl, tile, and linoleum, with baseboard heating and electric cooling. Accessibility features include an approach ramp and handicapped accommodations.
Set on 0.66 acres, the property includes an 18-space parking lot. Public sewer and public water are available, along with a well. Exterior improvements include lighting and an outdoor shower. The building dates to 1817 and features block, brick, concrete, and stone construction with an asphalt roof.
Set on 0.66 acres, the property includes an 18-space parking lot. Public sewer and public water are available, along with a well. Exterior improvements include lighting and an outdoor shower. The building dates to 1817 and features block, brick, concrete, and stone construction with an asphalt roof.
Key Highlights
- 0.66‑acre mixed‑use property
- 18‑space parking lot
- Office, residential, or combined live‑work configuration
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
$40,333
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
7.33%
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%
$806,660
$806.7K
Cap Rate 7%
$576,186
$576.2K
Cap Rate 9%
$448,144
$448.1K
Market Conditions
NOI Build-Up for 3,492 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
$73.3K $21.00/SF
− Vacancy
−$8.8K −$2.52/SF
EGI
$64.5K $18.48/SF
− OpEx
−$24.2K −$6.93/SF
NOI
$40.3K $11.55/SF
Area
Ocean County, NJ
Vacancy
12.00%
Lease Rate
$21.00 /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%
$806,660
Cap Rate 7%
$576,186
Cap Rate 9%
$448,144
Alternative Uses
Best Use
Office B
$763.3K
$667.9K – $890.5K
NOI $53,428 @ 7.0% cap · market cap 9.72%
Second Best
Mixed Use
$576.2K
$504.2K – $672.2K
NOI $40,333 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$911.8K
$797.9K – $1.06M
NOI $63,828 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 08734, NJ
7,702
Population
3,028
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
1,510
Density / Sq Mi
$121,033
Median Household Income
$52,534
Median Earnings
$1,504
Median Rent
$387,300
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 - Flexible property combining office, residential, or live-work use with supplemental buildings and on-site parking.
Where is this mixed-use property located?
The property is located at 29 South Street Lanoka Harbor, NJ.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 0.66‑acre mixed‑use property; 18‑space parking lot; Office, residential, or combined live‑work configuration
