First-Floor Fitness Studio
For Sale
$699,000
936-A HAVEN, Ocean City, NJ 08226
Flexible commercial unit with soundproofing, storage, elevator access, and a private garage.
Property Size1,650 SF
Price / SF$423.64
Days on Market50
Property Features for 936-A HAVEN
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
1
Elevators
Yes
Additional Details
Floor
Ground
HOA Fee
$366.67
Utilities to Site
Yes
Sprinkler System
Yes
Amenities
soundproofing
luxury vinyl plank flooring
spacious bathroom
utility closet with sink
ample storage
garage refrigerator
ice machine
elevator access
private garage
storage room
use of area beneath first-floor porch
hood vent
Listing Agency:
BHHS Fox & Roach West Ave - Ocean City
(609) 602-3917
Listed By:
Patrick A Halliday · License #0453531
(609) 602-3917
Source:
Towncentermd
Added: Jul 12
Changed: Aug 30
Last Checked: Aug 30 at 5:53AM
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 West Ave - Ocean City
Investment Insights
Based on property information with market context.
This first-floor commercial condominium contains over 1,650 square feet arranged for flexible business use. The space currently supports a yoga and community studio with a coffee bar and retail component, while its layout may accommodate office, restaurant, or another permitted use. Interior features include soundproofing, luxury vinyl plank flooring, a spacious bathroom, a utility closet with sink, and substantial storage. A concealed hood vent, garage refrigerator, and ice machine are also included.
The unit comes with one assigned parking space, street parking in front of the building, and access to a large parking lot across the street. Elevator and stair access serve the first floor. Additional property components include a private garage, a storage room, and use of the area beneath the first-floor porch pursuant to the master deed. The commercial condo is located at 936-A Haven in Ocean City, New Jersey.
The unit comes with one assigned parking space, street parking in front of the building, and access to a large parking lot across the street. Elevator and stair access serve the first floor. Additional property components include a private garage, a storage room, and use of the area beneath the first-floor porch pursuant to the master deed. The commercial condo is located at 936-A Haven in Ocean City, New Jersey.
Key Highlights
- Over 1,650 square feet of first‑floor commercial condominium space
- Existing yoga and community studio with coffee bar and retail area
- Soundproofing, luxury vinyl plank flooring, storage, and utility sink
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
$25,126
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
3.59%
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%
$502,520
$502.5K
Cap Rate 7%
$358,943
$358.9K
Cap Rate 9%
$279,178
$279.2K
Market Conditions
NOI Build-Up for 1,650 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
$35.6K $21.60/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$33.5K $20.30/SF
− OpEx
−$8.4K −$5.08/SF
NOI
$25.1K $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 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%
$502,520
Cap Rate 7%
$358,943
Cap Rate 9%
$279,178
Alternative Uses
Best Use
Specialty Retail
$358.9K
$314.1K – $418.8K
NOI $25,126 @ 7.0% cap · market cap 3.59%
Second Best
Retail
$273.2K
$239.1K – $318.8K
NOI $19,127 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$505.1K
$441.9K – $589.3K
NOI $35,355 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
72k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 26%
Groceries 25%
Home Improvements & Furnishings 11%
ACME Markets
Groceries
18,185 visits/mo
0.2 miles
Wawa
Shops & Services
11,847 visits/mo
0.3 miles
McDonald's
Dining
9,114 visits/mo
0.1 miles
Starbucks
Dining
9,021 visits/mo
0.1 miles
Dunkin' Donuts
Dining
4,788 visits/mo
0.1 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Aquatic & Fitness Center — 1735 Simpson Ave # 2, Ocean City, NJ 08226
- Ivy Rehab Physical Therapy — 1555 Haven Ave, Ocean City, NJ 08226
- Seaport Village Golf & Seaside Speedway Go-Karts — 936 Boardwalk, Ocean City, NJ 08226
- Local Gym and Fitness — 908 Asbury Ave, Ocean City, NJ 08226
- Local Studio Workout — 900 Asbury Ave, Ocean City, NJ 08226
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Flexible commercial unit with soundproofing, storage, elevator access, and a private garage.
Where is this fitness center & gym located?
The property is located at 936-A HAVEN Ocean City, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Over 1,650 square feet of first‑floor commercial condominium space; Existing yoga and community studio with coffee bar and retail area; Soundproofing, luxury vinyl plank flooring, storage, and utility sink
