Listing Agency: RE/MAX SURFSIDE

Listed By: David Green · License #9912733 Show Phone

Source: Exprealty

Added: Dec 23, 2025 Changed: Oct 7 Last Checked: Oct 15 at 5:09AM

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Investment Insights

Based on property information with market context.

This 3,200-square-foot flex property combines commercial workspace with warehouse-oriented features. The building includes high ceilings, a 10x10 truck door, customer and staff parking, signage, and a brand-new natural gas heating system. The configuration is identified for office/warehouse use, light manufacturing, storage, or restaurant and satellite-kitchen operations.

The property is positioned on the southbound side of Route 47 in Middle Township at 371 Route 47 S, Green Creek, New Jersey. Its highway position provides direct exposure to passing traffic, including customers traveling toward the shore. The combination of work, storage, access, and parking features supports a range of commercial operating requirements.

Key Highlights

• 3, 200 sq ft flex space on Route 47 S
• 10x10 truck door for warehouse access
• Brand‑new natural gas heating system

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,791

Suggested Prices Based on Cap Rates

Cap Rate 5%

$395,820 $395.8K

Cap Rate 7%

$282,729 $282.7K

Cap Rate 9%

$219,900 $219.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$30.3K $9.48/SF

− Vacancy

−$2.1K −$0.64/SF

EGI

$28.3K $8.84/SF

− OpEx

−$8.5K −$2.65/SF

NOI

$19.8K $6.18/SF

Area

Cape May County, NJ

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$395,820

Cap Rate 7%

$282,729

Cap Rate 9%

$219,900

Alternative Uses

Best Use

Flex RnD

$513.5K

$449.3K – $599.0K (±1% cap)

NOI $35,942 @ 7.0% cap · market cap 1,331.19%

Second Best

Warehouse

$337.8K

$295.6K – $394.1K (±1% cap)

NOI $23,645 @ 7.0% cap · market cap 875.74%

Theoretical Best

Office A

$979.5K

$857.1K – $1.14M (±1% cap)

NOI $68,567 @ 7.0% cap · market cap 2,539.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency HVAC Service Cafe & Coffee Shop Home Appliance Store Veterinary Clinic Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Versatile commercial space supporting office, warehouse, light manufacturing, storage, and restaurant-related operations.

Where is this flex space located?

The property is located at 371 Route 47 S Green Creek, NJ.

What are key features of this property?

This property features: 3, 200 sq ft flex space on Route 47 S; 10x10 truck door for warehouse access; Brand‑new natural gas heating system