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    The Largest CRE Database in the US with Over 1 Million Listings

    815 White Horse Pike Egg Harbor City, NJ 08215

    Sponsored
    For Sale
    $1,200,000

    9-Acre Commercial Land, 763 Units

    Property size:
    141,705 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 9.01-acre commercial property in Egg Harbor City, NJ, presents a lucrative investment opportunity. Located at 815 & 823 W White Horse Pike (zip code 08215), this site boasts 141,705 square feet and is zoned HC-2, allowing for diverse commercial uses. Currently approved for a phased self-storage development, the property includes plans for 123,276 gross square feet, with approximately 102,025 net rentable square feet across 763 units. Phase 1 encompasses 37,900 square feet of drive-up storage buildings and 39,680 square feet of canopy structures ideal for boat and RV storage. Phase 2 offers the potential for an 85,376 square foot, three-story climate-controlled building or alternative commercial development. Permitted uses are extensive, including self-storage, retail, restaurants (with drive-throughs), offices, car dealerships, and warehousing. The property's prime location on Route 30 ensures high visibility and accessibility, maximizing its potential for significant returns. The asking price is $1,200,000, translating to $8.47 per square foot and $1,572.74 per unit. Site plan approvals are nearing completion, making this a ready-to-develop asset with substantial upside. Seven existing buildings are on the property, spanning three stories. This is a compelling opportunity for developers seeking a flexible, high-return investment in a prime location.

    Property Features for 815 White Horse Pike

    General Information

    Property type
    Self storage facilities
    Square Feet
    141,705 SF
    Lot Size
    392,476 SF

    Building Details

    Buildings
    7
    Stories
    3
    Units
    763

    We can help!

    Listing Contact
    Linda Cinelli, CCIM
    Linda Cinelli, CCIM

    Learn more

    HighLights

    • $1,200,000 asking price.
    • 9.01‑acre lot with high visibility on Route 30.
    • Approved for self‑storage development with site plan approvals nearing completion.
    • HC‑2 zoning allows for flexible commercial uses including warehouse, boat/RV storage, retail, and restaurants.
    • 123,276 square feet gross building area (GBA), 102,025 square feet net rentable square feet (NRSF) of self‑storage across 763 units.
    • 39,680 square feet of space for vehicle, boat, and RV storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Spa & Massage Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Auto Parts Store Skin Care Clinic Food Market Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Egg Harbor City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.610882459503
    Latitude
    39.503293930651

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    FAQs

    What type of property is this?
    Self storage facility - 9-Acre Commercial Land, 763 Units
    Where is this self storage facility located?
    The property is located at 815 White Horse Pike Egg Harbor City, NJ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price.; 9.01-acre lot with high visibility on Route 30.; Approved for self-storage development with site plan approvals nearing completion.
    Request Owner's contact information
    815 White Horse Pike Egg Harbor City, NJ 08215
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    815 White Horse Pike Egg Harbor City, NJ 08215
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    We can help!
    Listing Contact
    Linda Cinelli, CCIM
    Linda Cinelli, CCIM
    Real Estate License ID: NJ 8633458
    Learn more
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