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    138 W Broadway, Unit 138-140 Salem, NJ 08079

    For Sale
    $495,000

    Commercial Sale - SALEM, NJ

    Type:Retail
    Lot size:
    0.36 Acres
    Days on Market:
    297
    Last Refresh:
    Dec 5 at 4:06 am

    Property Features for 138 W Broadway

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking
    2
    Lot size
    0.36 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1940
    Building materials
    Brick

    Warner Real Estate and Auction Company (856) 769-4111 [email protected]

    Listing agent Corinne Giletto (856) 287-2886

    Listing date Feb 12, 2025

    Copyright © 2025 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Redevelopment Opportunity in Downtown Salem

    Located in the heart of downtown Salem, New Jersey, the property at 138 W. Broadway presents a redevelopment opportunity. The property consists of Block 13, Lots 61, 45, and 44. Formerly used as a retail storefront and warehouse storage for furniture, the property is estimated to be 22,000 square feet across three lots. It features one loading dock and one drive-in bay, along with a private fenced-in rear entrance. Access is available to a shared parking lot; however, parking space designation should be determined by the buyer. The property includes retail, warehouse, and industrial spaces. The lot size is 0.36 acres. Buyers must confirm all square footage estimates and zoning details.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    New Jersey
    Longitude
    -75.46798431
    Latitude
    39.57243773

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    FAQs

    What type of property is this?
    Retail property - Redevelopment opportunity in the heart of downtown Salem, New Jersey.
    Where is this retail property located?
    The property is located at 138 W Broadway, Unit 138-140 Salem, NJ.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity in downtown Salem, NJ.; - Large combined lot size: approximately 22,000 square feet across three lots.; - Includes a loading dock and drive-in bay for convenient access.
    (856) 287-2886
    Request Owner's contact information
    138 W Broadway, Unit 138-140 Salem, NJ 08079
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    Salem, NJ 08079
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    Realmo Value Estimation

    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.

    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.

    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
    138 W Broadway, Unit 138-140 Salem, NJ 08079
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