For Sale
$425,000
696 Route 9 S, Little Egg Harbor, NJ 08087
Land/Lots, Little Egg Harbor, NJ
Property Size1,513 SF
Lot Size0.87 Acres
Price / SF$280.90
Days on Market11
Property Features for 696 Route 9 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Use
Lot features
Level
High school
Pinelands Regional
Directions
Located on Route 9 just North of Otis Bog Road
Standard status
Active
APN
17-00282-01-00007
Size
1,513 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4439
Utilities
Water source
Well
Building Details
Additional Structures
Outbuilding
Listing Agency:
Mezzina Real Estate
(609) 296-8116
Listed By:
Michael Eagan · License #8938504
(609) 296-8116
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 22 at 1:06PM
MLS# 22624977
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$23,267
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
5.47%
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%
$465,340
$465.3K
Cap Rate 7%
$332,386
$332.4K
Cap Rate 9%
$258,522
$258.5K
Market Conditions
NOI Build-Up for 1,513 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
$45.4K $30.00/SF
− Vacancy
−$3.1K −$2.04/SF
EGI
$42.3K $27.96/SF
− OpEx
−$19.0K −$12.58/SF
NOI
$23.3K $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%
$465,340
Cap Rate 7%
$332,386
Cap Rate 9%
$258,522
Alternative Uses
Best Use
Apartment 5plus
$332.4K
$290.8K – $387.8K
NOI $23,267 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$395.1K
$345.7K – $460.9K
NOI $27,655 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
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
Questions? Ask Rey
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Frequently Asked Questions
Where is this commercial land located?
The property is located at 696 Route 9 S Little Egg Harbor, NJ.
What is the asking price?
The asking price for this property is $425,000.
