Listing Agency: KELLER WILLIAMS REALTY MONMOUTH/OCEAN Show Phone

Listed By: MOHAMED BASSYOUNI · License #1859124 Show Phone

Source: Corcoran

Added: Feb 16 Changed: Oct 15 Last Checked: Oct 16 at 9:19AM

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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 / Yr

$53,823

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,076,460 $1.1M

Cap Rate 7%

$768,900 $768.9K

Cap Rate 9%

$598,033 $598.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,500 SF

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 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 (±1% cap)

NOI $53,823 @ 7.0% cap · market cap 4.49%

Second Best

Retail

$713.7K

$624.5K – $832.6K (±1% cap)

NOI $49,956 @ 7.0% cap · market cap 4.16%

Theoretical Best

Office A

$913.9K

$799.7K – $1.07M (±1% cap)

NOI $63,974 @ 7.0% cap · market cap 5.33%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Law Firm Dental Office HVAC Service Auto Parts Store Building Supply Hair Salon

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

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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.