Seven-Unit Mixed-Use
New
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 Market2
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
(732) 620-0435
Source:
Southjerseyshorehomesfinder
Added: Sep 9
Last Checked: Sep 9 at 2:59PM
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
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 = 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
$62,587
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
3.91%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
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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
