Historic Commercial Land
For Sale
$599,000
478 S Main Street, West Creek, NJ 08092
COMMERCIAL - West Creek, NJ
Property Size1,662 SF
Lot Size7.42 Acres
Price / SF$360.41
Days on Market142
Property Features for 478 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
on route 9
Standard status
Active
APN
31-00124-0000-00046
Size
1,662 SF
Lot size
7.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8798
Utilities
Sewer type
Public Sewer
Water source
Well
Building Details
Year built
1849
Floors in Building
2
Listing Agency:
RE/MAX Revolution
(732) 678-1328
Listed By:
Louisa Sagarese · License #8132257
(732) 678-1328
Added: Mar 24
Changed: Aug 10
Last Checked: Aug 12 at 10:06AM
MLS# 22607613
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic commercial land parcel consists of 7.42 acres, offering an opportunity to own a large tract in West Creek, NJ. The listing also notes the presence of a classic, timeworn property on-site; however, the remarks specifically advise that the home is not safe to enter. The property is identified as having both residential and commercial zoning, supporting a range of possible uses consistent with that zoning.
Access is available from Oak Ave, and the address provided for the offering is 478 S Main Street, West Creek, NJ 08092.
Lot size is listed as 7.42 acres. The property size is shown as 1,662 square feet in the listing materials, though the primary offering is the land parcel itself.
Access is available from Oak Ave, and the address provided for the offering is 478 S Main Street, West Creek, NJ 08092.
Lot size is listed as 7.42 acres. The property size is shown as 1,662 square feet in the listing materials, though the primary offering is the land parcel itself.
Key Highlights
- Expansive 7.42 acre property offering privacy and room to grow.
- Rare historic property with classic architectural details.
- Residential and commercial zoning provides versatile use options.
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
$25,558
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
4.27%
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%
$511,160
$511.2K
Cap Rate 7%
$365,114
$365.1K
Cap Rate 9%
$283,978
$284.0K
Market Conditions
NOI Build-Up for 1,662 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
$49.9K $30.00/SF
− Vacancy
−$3.4K −$2.04/SF
EGI
$46.5K $27.96/SF
− OpEx
−$20.9K −$12.58/SF
NOI
$25.6K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /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%
$511,160
Cap Rate 7%
$365,114
Cap Rate 9%
$283,978
Alternative Uses
Best Use
Apartment 5plus
$365.1K
$319.5K – $426.0K
NOI $25,558 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.0K
$379.7K – $506.3K
NOI $30,379 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
98
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Historic parcel with both residential and commercial zoning and direct access from Oak Ave in West Creek, NJ.
Where is this commercial land located?
The property is located at 478 S Main Street West Creek, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Expansive 7.42 acre property offering privacy and room to grow.; Rare historic property with classic architectural details.; Residential and commercial zoning provides versatile use options.
