Retail Space Near
For Sale
Contact for pricing
617 E 8th Street, Ocean City, NJ 08226
A compact commercial space in Ocean City’s hotel corridor offers a setting for specialty retail or food service.
Property Size700 SF
Price / SF$4.29
Days on Market130
Property Features for 617 E 8th Street
General Information
Standard status
Active
Size
700 SF
Property subtype
COMMERCIAL
Listing Agency:
Fox & Roach, REALTORS
Listed By:
Hartman Home Team
(609) 487-7234
Source:
Hartmanhometeam
Added: Jun 20
Changed: Oct 27
Last Checked: Oct 27 at 3:23AM
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 Fox & Roach, REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 700-square-foot retail space is suited to specialty retail and food-service concepts. A previous occupant used it for convenience and sundry retail. The offering is an assignment of the lease for this summer and next, with a four-installment summer payment schedule and a security deposit.
The property at 617 E 8th Street sits among hotels, bed and breakfasts, restaurants, and a bike rental center. Public Boardwalk parking lots, the beach, and the Boardwalk are nearby.
The property at 617 E 8th Street sits among hotels, bed and breakfasts, restaurants, and a bike rental center. Public Boardwalk parking lots, the beach, and the Boardwalk are nearby.
Key Highlights
- Approximately 700 square feet of retail space
- Lease assignment covers this summer and next
- Surrounded by hotels, bed and breakfasts, restaurants, and a bike rental center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,114
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,280
$162.3K
Cap Rate 7%
$115,914
$115.9K
Cap Rate 9%
$90,156
$90.2K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$12.6K $18.00/SF
− Vacancy
−$1.0K −$1.44/SF
EGI
$11.6K $16.56/SF
− OpEx
−$3.5K −$4.97/SF
NOI
$8.1K $11.59/SF
Area
Cape May County, NJ
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,280
Cap Rate 7%
$115,914
Cap Rate 9%
$90,156
Alternative Uses
Best Use
Retail
$115.9K
$101.4K – $135.2K
NOI $8,114 @ 7.0% cap · market cap 270.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.3K
$187.5K – $250.0K
NOI $14,999 @ 7.0% cap · market cap 499.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Groceries 37%
Shops & Services 10%
ACME Markets
Groceries
18,185 visits/mo
0.4 miles
McDonald's
Dining
9,114 visits/mo
0.4 miles
Starbucks
Dining
9,021 visits/mo
0.4 miles
Dunkin' Donuts
Dining
4,788 visits/mo
0.4 miles
TD Bank
Shops & Services
3,746 visits/mo
0.4 miles
Demographics for 08226, NJ
11,229
Population
20,905
Households
0.5
Avg Household Size
57
Median Age
55%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
1,651
Density / Sq Mi
$101,782
Median Household Income
$54,323
Median Earnings
$1,670
Median Rent
$719,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A compact commercial space in Ocean City’s hotel corridor offers a setting for specialty retail or food service.
Where is this retail space located?
The property is located at 617 E 8th Street Ocean City, NJ.
What are key features of this property?
This property features: Approximately 700 square feet of retail space; Lease assignment covers this summer and next; Surrounded by hotels, bed and breakfasts, restaurants, and a bike rental center
