Mixed-Use Property with Leased
For Sale
Contact for pricing
3807 Pacific Avenue, Wildwood Crest, NJ 08260
Two vacant commercial units occupy the lower level, with two leased residential units above.
Property Size3,346 SF
Price / SF$164.38
Days on Market53
Property Features for 3807 Pacific Avenue
General Information
Standard status
Active
Size
3,346 SF
Property subtype
Mixed Use
Zoning
PARZ
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
McCann Commercial Real Estate
Listed By:
Josh Pagan · License #PA343730
Source:
Crexi
Added: Jul 30
Changed: Sep 19
Last Checked: Sep 20 at 7:54AM
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 McCann Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,346-square-foot mixed-use property was built in 1920 and combines two residential units on the upper level with two commercial units below. The residential spaces are leased to long-term tenants, while the commercial units are vacant and available for future occupancy or leasing.
The property carries PARZ zoning and offers a combination of existing residential tenancy and available commercial space within one building. Its two-level configuration supports separate residential and commercial functions, with the upper units already occupied and the lower units ready for a new buildout.
The property carries PARZ zoning and offers a combination of existing residential tenancy and available commercial space within one building. Its two-level configuration supports separate residential and commercial functions, with the upper units already occupied and the lower units ready for a new buildout.
Key Highlights
- 3,346‑square‑foot mixed‑use property built in 1920
- Two upstairs residential units leased to long‑term tenants
- Two vacant commercial units on the lower level
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
$45,525
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
8.28%
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%
$910,500
$910.5K
Cap Rate 7%
$650,357
$650.4K
Cap Rate 9%
$505,833
$505.8K
Market Conditions
NOI Build-Up for 3,346 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
$87.1K $26.04/SF
− Vacancy
−$4.4K −$1.30/SF
EGI
$82.8K $24.74/SF
− OpEx
−$37.2K −$11.13/SF
NOI
$45.5K $13.61/SF
Area
Cape May County, NJ
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$910,500
Cap Rate 7%
$650,357
Cap Rate 9%
$505,833
Alternative Uses
Best Use
Apartment 5plus
$650.4K
$569.1K – $758.8K
NOI $45,525 @ 7.0% cap · market cap 8.28%
Second Best
Retail
$554.1K
$484.8K – $646.5K
NOI $38,787 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$1.02M
$896.2K – $1.19M
NOI $71,695 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two vacant commercial units occupy the lower level, with two leased residential units above.
Where is this mixed-use property located?
The property is located at 3807 Pacific Avenue Wildwood Crest, 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: 3,346‑square‑foot mixed‑use property built in 1920; Two upstairs residential units leased to long‑term tenants; Two vacant commercial units on the lower level
