Seven-Unit Mixed-Use
For Sale
$1,599,995
5 S Main St, Cape May Court House, NJ 08210
A downtown Main Street building combines commercial suites with apartments and separately metered electric service.
Property Size4,600 SF
Price / SF$347.83
Days on Market48
Property Features for 5 S Main St
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$135,000
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Houwzer LLC
Listed By:
Patricia Gesswein · License #068287
(609) 780-4745
Source:
Southjerseyshorehomesfinder
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 1:25PM
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 Houwzer LLC
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Investment Insights
Based on property information with market context.
This seven-unit mixed-use building in downtown Cape May Court House contains three commercial suites and four residential apartments. The commercial spaces include three rooms and a half bath in Units 101 and 102, while Unit 103 has two rooms and a half bath. Apartments 201, 202, and 302 each offer two bedrooms and one full bath; Unit 301 has one bedroom and one full bath. Many units have been recently updated, and the property includes a full unfinished basement with low-maintenance vinyl siding.
Public water and sewer serve the building. Electric service is separately metered for each unit, with an additional house meter for common areas. Climate systems include five central HVAC systems and two ductless systems. Street parking is available in front of the property, with a municipal lot directly behind it. The building is located on Main Street near Stone Harbor beaches, local dining, boutique shopping, and the Garden State Parkway.
Public water and sewer serve the building. Electric service is separately metered for each unit, with an additional house meter for common areas. Climate systems include five central HVAC systems and two ductless systems. Street parking is available in front of the property, with a municipal lot directly behind it. The building is located on Main Street near Stone Harbor beaches, local dining, boutique shopping, and the Garden State Parkway.
Key Highlights
- Seven‑unit configuration with three commercial spaces and four residential apartments
- Commercial Units 101 and 102 have three rooms and a half bath; Unit 103 has two rooms and a half bath
- Apartments 201, 202, and 302 offer two bedrooms and one full bath; Unit 301 has one bedroom and one full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,587
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,251,740
$1.3M
Cap Rate 7%
$894,100
$894.1K
Cap Rate 9%
$695,411
$695.4K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$119.8K $26.04/SF
− Vacancy
−$6.0K −$1.30/SF
EGI
$113.8K $24.74/SF
− OpEx
−$51.2K −$11.13/SF
NOI
$62.6K $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 Rate 5%
$1,251,740
Cap Rate 7%
$894,100
Cap Rate 9%
$695,411
Alternative Uses
Best Use
Apartment 5plus
$894.1K
$782.3K – $1.04M
NOI $62,587 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$761.8K
$666.5K – $888.7K
NOI $53,323 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,565 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 08210, NJ
17,635
Population
8,374
Households
2.1
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
68.5 sq mi
ZIP Area
257
Density / Sq Mi
$93,855
Median Household Income
$48,086
Median Earnings
$1,538
Median Rent
$337,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A downtown Main Street building combines commercial suites with apartments and separately metered electric service.
Where is this mixed-use property located?
The property is located at 5 S Main St Cape May Court House, NJ.
What is the asking price?
The asking price for this property is $1,599,995.
What are key features of this property?
This property features: Seven‑unit configuration with three commercial spaces and four residential apartments; Commercial Units 101 and 102 have three rooms and a half bath; Unit 103 has two rooms and a half bath; Apartments 201, 202, and 302 offer two bedrooms and one full bath; Unit 301 has one bedroom and one full bath
