Building Details

Year Built 1936

Listing Agency: RE/MAX AT BARNEGAT BAY Show Phone

Listed By: JOHN GLANCY JR. · License #8830435 Show Phone

Source: Corcoran

Added: Oct 25 Changed: Oct 27 Last Checked: Oct 27 at 3:43AM

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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 RE/MAX AT BARNEGAT BAY

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Investment Insights

Based on property information with market context.

Set on 2.91 acres, this mixed-use property includes a single-family residential homestead and a horse stable. The site is designated C-2, and the property was built in 1936.

The address is 497 Main Street #9 in West Creek, New Jersey. The supplied information identifies residential, equestrian, retail, office, automotive service, food service, educational, public service, park, and open-space uses within the C-2 district.

Key Highlights

• 2.91‑acre property
• Horse stable on site
• C‑2 designation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,129

Cap Rate

3.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,580 $342.6K

Cap Rate 7%

$244,700 $244.7K

Cap Rate 9%

$190,322 $190.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,483 SF

Gross rent

$31.1K $21.00/SF

− Vacancy

−$3.7K −$2.52/SF

EGI

$27.4K $18.48/SF

− OpEx

−$10.3K −$6.93/SF

NOI

$17.1K $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 Rate 5%

$342,580

Cap Rate 7%

$244,700

Cap Rate 9%

$190,322

Alternative Uses

Best Use

Mixed Use

$244.7K

$214.1K – $285.5K (±1% cap)

NOI $17,129 @ 7.0% cap · market cap 3.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$387.2K

$338.8K – $451.8K (±1% cap)

NOI $27,107 @ 7.0% cap · market cap 5.54%

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

Property Analytics

Current Use

Mixed-use properties

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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The C-2-zoned property combines a single-family residential homestead with an existing horse stable.

Where is this mixed-use property located?

The property is located at 497 Main Street #9 West Creek, NJ.

What is the asking price?

The asking price for this property is $489,000.

What are key features of this property?

This property features: 2.91‑acre property; Horse stable on site; C‑2 designation