Mixed-Use Property on Route
For Sale
$1,200,000
585 Route 9, Little Egg Harbor, NJ 08087
Commercial/Mix-use property with high visibility and development potential.
Property Size3,500 SF
Lot Size2.27 Acres
Price / SF$342.86
Days on Market199
Property Features for 585 Route 9
General Information
Standard status
Active
Size
3,500 SF
Lot size
2.27 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,434
Amenities
Assigned
Listing Agency:
KELLER WILLIAMS REALTY MONMOUTH/OCEAN
(732) 942-5280
Listed By:
MOHAMED BASSYOUNI · License #1859124
(732) 573-5273
Source:
Corcoran
Added: Feb 16
Changed: Sep 2
Last Checked: Sep 2 at 6:18PM
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 commercial mixed-use property, located at 545, 565, and 585 Route 9S in Little Egg Harbor, presents a development opportunity. Zoned General Business (GB), the property is suited for various ventures, including a fast-food franchise, retail establishment, or warehouse. The location offers high highway and commercial visibility, situated near a Super Walmart, Tractor Supply, RiteAid, and McDonalds. The property includes a 1500 sq ft retail space, a large storage area, and a 2-bedroom apartment above. Additionally, there is a 2000 sq ft warehouse/garage area, a six-bedroom house requiring renovation, and a fenced commercial yard. The property is offered AS IS, and prospective buyers are advised to conduct due diligence with the township. The value is primarily in the land and location. Address 545 includes a billboard for extra income. The zoning document lists 32 permitted uses and 13 conditional uses, along with bulk requirements.
Key Highlights
- Prime location on Route 9S in Little Egg Harbor with high visibility.
- General Business (GB) zoning allows for a wide range of commercial uses.
- Proximity to high‑traffic retailers like Walmart, Tractor Supply, RiteAid, and McDonalds.
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
$53,823
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
4.49%
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%
$1,076,460
$1.1M
Cap Rate 7%
$768,900
$768.9K
Cap Rate 9%
$598,033
$598.0K
Market Conditions
NOI Build-Up for 3,500 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
$105.0K $30.00/SF
− Vacancy
−$7.1K −$2.04/SF
EGI
$97.9K $27.96/SF
− OpEx
−$44.0K −$12.58/SF
NOI
$53.8K $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%
$1,076,460
Cap Rate 7%
$768,900
Cap Rate 9%
$598,033
Alternative Uses
Best Use
Apartment 5plus
$768.9K
$672.8K – $897.1K
NOI $53,823 @ 7.0% cap · market cap 4.49%
Second Best
Retail
$713.7K
$624.5K – $832.6K
NOI $49,956 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$913.9K
$799.7K – $1.07M
NOI $63,974 @ 7.0% cap · market cap 5.33%
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 - Commercial/Mix-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 location on Route 9S in Little Egg Harbor with high visibility.; General Business (GB) zoning allows for a wide range of commercial uses.; Proximity to high‑traffic retailers like Walmart, Tractor Supply, RiteAid, and McDonalds.
