Building Details

Year Built 1920

Listing Agency: C21/ ACTION PLUS REALTY r***@gmail.com Show Phone

Listed By: JOAN L VELARDI · License #0337813

Source: Corcoran

Added: Sep 6, 2025 Changed: Aug 8 Last Checked: Jul 24 at 7:50AM

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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 C21/ ACTION PLUS REALTY

Investment Insights

Based on property information with market context.

This property, situated on 0.66 acres along Route 9, is suitable for a professional office or retail business. The existing 850-square-foot building, along with a shed equipped with electricity, is currently occupied by a bait and tackle shop, and the tenant may be interested in selling the business. The location presents possibilities for various retail or restaurant ventures. Potential uses include a salon, office, florist, gift shop, bait and tackle shop, bakery, or takeout food establishment. It could also accommodate construction, insurance, or accounting services, or serve as a therapist's office or other small office space. The property has a size of 2605 square feet.

Key Highlights

• High‑visibility location directly on Route 9.
• Versatile property suitable for office, retail, or restaurant use.
• Includes an 850 sq. ft. building plus a shed 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

$39,857

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

8.86%

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%

$797,140 $797.1K

Cap Rate 7%

$569,386 $569.4K

Cap Rate 9%

$442,856 $442.9K

Market Conditions

NOI Build-Up for 2,605 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

$78.2K $30.00/SF

− Vacancy

−$25.0K −$9.60/SF

EGI

$53.1K $20.40/SF

− OpEx

−$13.3K −$5.10/SF

NOI

$39.9K $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%

$797,140

Cap Rate 7%

$569,386

Cap Rate 9%

$442,856

Alternative Uses

Best Use

Office B

$569.4K

$498.2K – $664.3K (±1% cap)

NOI $39,857 @ 7.0% cap · market cap 8.86%

Second Best

Specialty Retail

$569.1K

$498.0K – $664.0K (±1% cap)

NOI $39,838 @ 7.0% cap · market cap 8.85%

Theoretical Best

Office A

$680.2K

$595.2K – $793.6K (±1% cap)

NOI $47,615 @ 7.0% cap · market cap 10.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Hair Salon Dental Office Nail Salon Pharmacy Restaurant Bakery

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

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Retail or office building on 0.66 acres, Route 9.

Where is this retail space located?

The property is located at 387 Main Street Eagleswood Township, NJ.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: High‑visibility location directly on Route 9.; Versatile property suitable for office, retail, or restaurant use.; Includes an 850 sq. ft. building plus a shed with electric.