Commercial Land with Dual
For Sale
$599,000
478 S Main Street, West Creek, NJ 08092
Land/Lots, West Creek, NJ
Property Size1,662 SF
Lot Size7.42 Acres
Price / SF$360.41
Days on Market188
Property Features for 478 S Main Street
General Information
Property type
Land
Property subtype
Other
Subdivision
Stafford Twp
Lot features
Subdividable, Wooded
Middle school
Southern Reg
High school
Southern Reg
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
Water source
Well
Building Details
Additional Structures
Residence
Listing Agency:
RE/MAX Revolution
(732) 678-1328
Listed By:
Louisa Sagarese · License #8132257
(908) 330-1122
Added: Mar 24
Changed: Sep 6
Last Checked: Sep 27 at 7:06PM
MLS# 22607612
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 7.42-acre commercial land property includes an existing 1,662-square-foot property improvement and is designated for both residential and commercial zoning. The grounds provide substantial open space, while well water serves the property. The source information also identifies classic architectural details and historic character associated with the site.
Access is available from S Main Street as well as Oak Ave in West Creek, New Jersey. The property is positioned in Ocean County and can be considered for a private residence, business use, or investment use, consistent with the stated zoning designations.
Access is available from S Main Street as well as Oak Ave in West Creek, New Jersey. The property is positioned in Ocean County and can be considered for a private residence, business use, or investment use, consistent with the stated zoning designations.
Key Highlights
- 7.42‑acre commercial land property
- Residential and commercial zoning designations
- Existing 1,662‑square‑foot property improvement
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
$19,196
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
3.20%
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%
$383,920
$383.9K
Cap Rate 7%
$274,229
$274.2K
Cap Rate 9%
$213,289
$213.3K
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
$34.9K $21.00/SF
− Vacancy
−$4.2K −$2.52/SF
EGI
$30.7K $18.48/SF
− OpEx
−$11.5K −$6.93/SF
NOI
$19.2K $11.55/SF
Area
Ocean County, NJ
Vacancy
12.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$383,920
Cap Rate 7%
$274,229
Cap Rate 9%
$213,289
Alternative Uses
Best Use
Mixed Use
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 3.20%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
124
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
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Frequently Asked Questions
What type of property is this?
Commercial land - The property carries both residential and commercial zoning designations, offering flexibility for future planning and use.
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: 7.42‑acre commercial land property; Residential and commercial zoning designations; Existing 1,662‑square‑foot property improvement
