Office and Shop
For Sale
$799,000
361 Main St, West Creek, NJ 08092
Office showroom with vaulted ceilings and mezzanine office space, plus workshop, storage, and parking on a high-visibility Route 9 lot.
Property Size2,700 SF
Lot Size2.00 Acres
Price / SF$295.93
Days on Market54
Property Features for 361 Main St
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
25
Lot size
2.00 Acres
Zoning
C-2
Additional Details
Road Access
Yes
Building Details
Year Built
1600
Listing Agency:
BHHS Zack Shore REALTORS
Listed By:
Curtis Lee · License #0569686
(609) 597-6464
Source:
Mynewjerseyrealestate
Added: Jul 18
Changed: Sep 8
Last Checked: Sep 8 at 5:10AM
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 BHHS Zack Shore REALTORS
Investment Insights
Based on property information with market context.
Versatile office and shop space on nearly 2 acres with approximately 265 feet of frontage on Route 9. The main office/showroom offers approximately 1,700 SF with a clear-span layout and vaulted ceilings. A second-floor mezzanine adds approximately 960 SF of additional office space, bringing total building area to approximately 2,700 SF.
The property also includes a 16x18 workshop, a separate storage shed, and parking for approximately 25 vehicles. The building is positioned toward the center of the lot, and the parcel measures approximately 265 feet by 294 feet, offering room for expansion and additional structures.
Zoned C-2, the property allows a wide range of permitted commercial uses, making it suitable for a variety of business needs.
The property also includes a 16x18 workshop, a separate storage shed, and parking for approximately 25 vehicles. The building is positioned toward the center of the lot, and the parcel measures approximately 265 feet by 294 feet, offering room for expansion and additional structures.
Zoned C-2, the property allows a wide range of permitted commercial uses, making it suitable for a variety of business needs.
Key Highlights
- Nearly 2‑acre commercial property with 265' frontage on Route 9 and wide highway access.
- Main office/showroom offers approx. 1,700 SF with clear‑span layout and soaring vaulted ceilings.
- Second‑floor mezzanine adds approx. 960 SF of office space for approx. total 2,700 SF.
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
$41,310
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
5.17%
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%
$826,200
$826.2K
Cap Rate 7%
$590,143
$590.1K
Cap Rate 9%
$459,000
$459.0K
Market Conditions
NOI Build-Up for 2,700 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
$81.0K $30.00/SF
− Vacancy
−$25.9K −$9.60/SF
EGI
$55.1K $20.40/SF
− OpEx
−$13.8K −$5.10/SF
NOI
$41.3K $15.30/SF
Area
Ocean County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$826,200
Cap Rate 7%
$590,143
Cap Rate 9%
$459,000
Alternative Uses
Best Use
Office B
$590.1K
$516.4K – $688.5K
NOI $41,310 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$705.0K
$616.9K – $822.5K
NOI $49,352 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 08092, NJ
3,596
Population
1,475
Households
2.4
Avg Household Size
44
Median Age
36%
College-Educated
96%
High-School Grad
22.9 sq mi
ZIP Area
157
Density / Sq Mi
$97,058
Median Household Income
$57,931
Median Earnings
$1,408
Median Rent
$473,600
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?
Office building - Office showroom with vaulted ceilings and mezzanine office space, plus workshop, storage, and parking on a high-visibility Route 9 lot.
Where is this office building located?
The property is located at 361 Main St West Creek, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Nearly 2‑acre commercial property with 265' frontage on Route 9 and wide highway access.; Main office/showroom offers approx. 1,700 SF with clear‑span layout and soaring vaulted ceilings.; Second‑floor mezzanine adds approx. 960 SF of office space for approx. total 2,700 SF.
