Turn-Key Professional Office
For Sale
Contact for pricing
309 S Main Street, Cape May Court House, NJ 08210
Well-maintained craftsman-style office building with centrally heated and cooled, largely furnished interiors.
Property Size1,914 SF
Lot Size0.31 Acres
Price / SF$287.36
Days on Market123
Property Features for 309 S Main Street
General Information
Standard status
Active
Size
1,914 SF
Lot size
0.31 Acres
Property subtype
Office, Land
Additional Details
Furnished
Yes
Building Details
Year Built
1910
Construction
craftsman
Listing Agency:
Jersey Cape Realty
Listed By:
Jim Cheney · License #NJ 9700084
Source:
Crexi
Added: May 7
Changed: Aug 27
Last Checked: Sep 5 at 11:34AM
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 Jersey Cape Realty
Investment Insights
Based on property information with market context.
A completely turn-key set of professional offices housed in a classic 1910 craftsman-style building. The property is well maintained and offered largely furnished and ready to move in and use. Interior comfort is supported by natural gas, hot air heat, and central air conditioning throughout a fully insulated building. Updates and exterior durability include vinyl replacement windows, CertainTeed vinyl siding, and rigid asbestos roof shingles.
The building is supported by a recently repaved asphalt driveway and parking area, plus a detached garage of approximately 503 square feet with electric for storage, protected parking, or workshop use. An expansive lot measuring approximately 57 feet by 240 feet provides comfortable room for possible expansion.
Overall, this is a turnkey office offering with modern mechanicals and low-maintenance exterior improvements, suited for professional practices.
The building is supported by a recently repaved asphalt driveway and parking area, plus a detached garage of approximately 503 square feet with electric for storage, protected parking, or workshop use. An expansive lot measuring approximately 57 feet by 240 feet provides comfortable room for possible expansion.
Overall, this is a turnkey office offering with modern mechanicals and low-maintenance exterior improvements, suited for professional practices.
Key Highlights
- Well‑maintained 1910 craftsman‑style office building with largely furnished interiors, ready to move in and use
- Central heating and cooling: natural gas hot air heat and central air conditioning throughout
- Recently repaved asphalt driveway and parking area plus detached garage approx. 503 SF with electric
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
$31,307
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
5.69%
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%
$626,140
$626.1K
Cap Rate 7%
$447,243
$447.2K
Cap Rate 9%
$347,856
$347.9K
Market Conditions
NOI Build-Up for 1,914 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
$53.5K $27.96/SF
− Vacancy
−$11.8K −$6.15/SF
EGI
$41.7K $21.81/SF
− OpEx
−$10.4K −$5.45/SF
NOI
$31.3K $16.36/SF
Area
Cape May County, NJ
Vacancy
22.00%
Lease Rate
$27.96 /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%
$626,140
Cap Rate 7%
$447,243
Cap Rate 9%
$347,856
Alternative Uses
Best Use
Office B
$447.2K
$391.3K – $521.8K
NOI $31,307 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$585.9K
$512.7K – $683.5K
NOI $41,012 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Explore this area
Business Placement
Demographics for 08210, NJ
17,635
Population
8,374
Households
2.1
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
68.5 sq mi
ZIP Area
257
Density / Sq Mi
$93,855
Median Household Income
$48,086
Median Earnings
$1,538
Median Rent
$337,700
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?
Office building - Well-maintained craftsman-style office building with centrally heated and cooled, largely furnished interiors.
Where is this office building located?
The property is located at 309 S Main Street Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Well‑maintained 1910 craftsman‑style office building with largely furnished interiors, ready to move in and use; Central heating and cooling: natural gas hot air heat and central air conditioning throughout; Recently repaved asphalt driveway and parking area plus detached garage approx. 503 SF with electric
