Two-Dwelling Multifamily
For Sale
$509,000
86 ROUTE 50, Ocean View, NJ 08230
Two separate dwellings with a detached three-car garage and acreage supporting parking, equipment, and storage needs.
Property Size1,630 SF
Lot Size1.70 Acres
Price / SF$312.27
Days on Market16
Property Features for 86 ROUTE 50
General Information
Standard status
Active
Size
1,630 SF
Lot size
1.70 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
BHHS Fox & Roach-Northfield
(609) 226-6680
Listed By:
Richard Baehrle
(609) 226-6680
Source:
Cummingsrealtors
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 22 at 4:26AM
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 BHHS Fox & Roach-Northfield
Investment Insights
Based on property information with market context.
This multifamily property includes two separate dwellings and a detached three-car garage on a 1.70-acre parcel. The property contains 1,630 SF and was built in 1920, with the site offering space for parking, equipment, and storage. Its configuration may support residential income, owner occupancy, or a combination of uses, subject to buyer due diligence regarding zoning, permitted uses, approvals, and development potential.
The property fronts Route 50 in Upper Township, providing direct exposure and access along the corridor. It is located minutes from the Garden State Parkway, Sea Isle City, Strathmere, Ocean City, and surrounding shore destinations.
The property fronts Route 50 in Upper Township, providing direct exposure and access along the corridor. It is located minutes from the Garden State Parkway, Sea Isle City, Strathmere, Ocean City, and surrounding shore destinations.
Key Highlights
- Two separate dwellings on one property
- Detached 3‑car garage
- 1.70‑acre parcel with Route 50 frontage
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
$22,178
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
4.36%
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%
$443,560
$443.6K
Cap Rate 7%
$316,829
$316.8K
Cap Rate 9%
$246,422
$246.4K
Market Conditions
NOI Build-Up for 1,630 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
$42.4K $26.04/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$40.3K $24.74/SF
− OpEx
−$18.1K −$11.13/SF
NOI
$22.2K $13.61/SF
Area
Cape May County, NJ
Vacancy
5.00%
Lease Rate
$26.04 /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%
$443,560
Cap Rate 7%
$316,829
Cap Rate 9%
$246,422
Alternative Uses
Best Use
Apartment 5plus
$316.8K
$277.2K – $369.6K
NOI $22,178 @ 7.0% cap · market cap 4.36%
Second Best
Mixed Use
$208.9K
$182.8K – $243.7K
NOI $14,621 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$498.9K
$436.6K – $582.1K
NOI $34,926 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 08230, NJ
5,908
Population
2,669
Households
2.2
Avg Household Size
49
Median Age
44%
College-Educated
98%
High-School Grad
19.5 sq mi
ZIP Area
303
Density / Sq Mi
$110,667
Median Household Income
$63,750
Median Earnings
$1,757
Median Rent
$406,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate dwellings with a detached three-car garage and acreage supporting parking, equipment, and storage needs.
Where is this multifamily property located?
The property is located at 86 ROUTE 50 Ocean View, NJ.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Two separate dwellings on one property; Detached 3‑car garage; 1.70‑acre parcel with Route 50 frontage
