LANOKA HARBOR, N.J. – A fully leased mixed-use retail property on Route 9 in Lanoka Harbor has been listed for sale at $999,000, offering investors a 6.22 percent capitalization rate and a prime location in a growing commercial corridor.
The 2,412-square-foot property, located at 510 North Main Street, features a long-standing pizzeria and restaurant tenant along with a leased 700-square-foot garage. The corner site sits across from a Walmart and adjacent to a busy Lidl supermarket and a new premium car wash, drawing steady vehicle and pedestrian traffic throughout the day.
According to the listing, the property has been reduced by $150,000 from its original asking price due to the owner’s health concerns, and is described as “priced to sell” below appraisal value. The site includes roughly half an acre of land, providing additional development potential for outdoor dining or future expansion.
Financial details show the property generating $74,000 in effective gross income annually, with $42,000 in rental income and $32,000 in other reported revenue. The tenant business reportedly produces more than $800,000 in annual sales, and the property remains fully occupied.
Positioned along one of Ocean County’s busiest commercial routes, the property is marketed as a turnkey investment opportunity with both stable income and long-term growth potential.
The Route 9 property in Lanoka Harbor is listed at $999,000 with a reported 6.22% cap rate and a fully leased pizzeria and garage.