Building Details

Year built 1955

Number of units 1

Listing Agency: Coldwell Banker James C Otton Real Estate - CMCH j***@avalonnj.com Show Phone

Listed By: Diane V. Walker Show Phone

Added: May 8, 2025 Changed: Oct 27 Last Checked: Oct 27 at 7:06PM

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MLS# 251350

Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This approximately 2,000-square-foot commercial building occupies a 1.7-acre parcel and is currently configured for a retail food-market business. The 40-by-50-foot structure dates to 1955 and includes restrooms, central air, fire sprinklers, propane and natural-gas heating, and a well water source. An ADT alarm system and NJ Lottery machine are in place and may be transferable upon sale. The building is offered as-is, with inventory, furnishings, and equipment handled separately or negotiated before closing.

The property sits at the corner of Route 47 and Court House-South Dennis Road, with parking positioned in both the front and rear. Its commercial setting supports the existing food-market layout, while a prior restaurant/diner use provides additional documented operating history. Buyer inspections and due diligence are required under Dennis Township requirements, and showings are available by appointment with 48 hours’ notice.

Key Highlights

• Approximately 2,000‑square‑foot building on 1.7 acres
• Corner location at Route 47 and Court House‑South Dennis Road
• Current retail food‑market use; prior restaurant/diner use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,456

Cap Rate

6.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$609,120 $609.1K

Cap Rate 7%

$435,086 $435.1K

Cap Rate 9%

$338,400 $338.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$43.2K $21.60/SF

− Vacancy

−$2.6K −$1.30/SF

EGI

$40.6K $20.30/SF

− OpEx

−$10.2K −$5.08/SF

NOI

$30.5K $15.23/SF

Area

Cape May County, NJ

Vacancy

6.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$609,120

Cap Rate 7%

$435,086

Cap Rate 9%

$338,400

Alternative Uses

Best Use

Specialty Retail

$435.1K

$380.7K – $507.6K (±1% cap)

NOI $30,456 @ 7.0% cap · market cap 6.10%

Second Best

Retail

$331.2K

$289.8K – $386.4K (±1% cap)

NOI $23,184 @ 7.0% cap · market cap 4.65%

Theoretical Best

Office A

$612.2K

$535.7K – $714.2K (±1% cap)

NOI $42,854 @ 7.0% cap · market cap 8.59%

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

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Auto Parts Store Electrical Service Grocery & Convenience Store Hair Salon (Bike/Boat/Book/etc) Store Nail 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

30

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 08210, NJ

17,635

Population

8,374

Households

2.1

Avg Household Size

47

Median Age

33%

College-Educated

93%

High-School Grad

68.5 sq mi

ZIP Area

257

Density / Sq Mi

$93,855

Median Household Income

$48,086

Median Earnings

$1,538

Median Rent

$337,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Retail food-market building with parking, central air, fire sprinklers, and a corner position along two roads.

Where is this grocery and convenience store located?

The property is located at 780 Route 47 South Dennis, NJ.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: Approximately 2,000‑square‑foot building on 1.7 acres; Corner location at Route 47 and Court House‑South Dennis Road; Current retail food‑market use; prior restaurant/diner use