Mixed-Use Property on Route
For Sale
$1,200,000
585 Route 9, Little Egg Harbor, NJ 08087
Large commercial mixed-use property with high visibility and development potential.
Property Size3,745 SF
Price / SF$320.43
Days on Market392
Property Features for 585 Route 9
General Information
Standard status
Active
Size
3,745 SF
Property subtype
Land
Listing Agency:
Keller Williams Realty Monmouth/Ocean
Listed By:
Mohamed Bassyouni · License #1859124
(732) 942-5280
Source:
Actionplusrealty
Added: Aug 8, 2025
Changed: Sep 2
Last Checked: Sep 1 at 9:03PM
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 Keller Williams Realty Monmouth/Ocean
Investment Insights
Based on property information with market context.
This large commercial mixed-use property is located in the heart of Little Egg Harbor on Route 9S. The property, zoned General Business (GB), is ideal for a fast food franchise, retail establishment, warehouse, or many other businesses. It offers highway commercial visibility and is located down the street from a Super Walmart, Tractor Supply, RiteAid, and McDonalds. The property includes 1500 square feet of retail space, a large storage area, and a two-bedroom apartment above. Additionally, there is a 2000 square foot warehouse/garage area, a six-bedroom house in need of renovation, and a fenced commercial yard. The property is offered AS IS, and the buyer is responsible for due diligence with the township. The value is in the land and the location. Address 545 is for a billboard providing extra income. The zoning document lists 32 permitted uses and 13 conditional uses.
Key Highlights
- Prime Highway/Commercial Location with BEST visibility on Route 9S.
- General Business (GB) zoning with 32 Permitted Uses and 13 Conditional Uses.
- Package deal including 545, 565, and 585 Route 9S.
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
$57,591
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
4.80%
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%
$1,151,820
$1.2M
Cap Rate 7%
$822,729
$822.7K
Cap Rate 9%
$639,900
$639.9K
Market Conditions
NOI Build-Up for 3,745 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
$112.4K $30.00/SF
− Vacancy
−$7.6K −$2.04/SF
EGI
$104.7K $27.96/SF
− OpEx
−$47.1K −$12.58/SF
NOI
$57.6K $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%
$1,151,820
Cap Rate 7%
$822,729
Cap Rate 9%
$639,900
Alternative Uses
Best Use
Apartment 5plus
$822.7K
$719.9K – $959.9K
NOI $57,591 @ 7.0% cap · market cap 4.80%
Second Best
Retail
$763.6K
$668.2K – $890.9K
NOI $53,453 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$977.9K
$855.7K – $1.14M
NOI $68,453 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 08087, NJ
25,191
Population
12,982
Households
1.9
Avg Household Size
49
Median Age
28%
College-Educated
94%
High-School Grad
70.1 sq mi
ZIP Area
359
Density / Sq Mi
$87,449
Median Household Income
$47,779
Median Earnings
$1,760
Median Rent
$323,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Large commercial mixed-use property with high visibility and development potential.
Where is this mixed-use property located?
The property is located at 585 Route 9 Little Egg Harbor, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime Highway/Commercial Location with BEST visibility on Route 9S.; General Business (GB) zoning with 32 Permitted Uses and 13 Conditional Uses.; Package deal including 545, 565, and 585 Route 9S.
