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    Prime Commercial Space in Westville Title is generated by Realmo AI

    1997 GATEWAY BOULEVARD, Westville, NJ 08093

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    CommercialLease - WESTVILLE, NJ

    Added:
    Dec 30, 2025
    Days on Market:
    153
    Last Refresh:
    Jun 1 at 12:06 pm

    Property Features for 1997 GATEWAY BOULEVARD

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1967
    Architectural style
    Other

    We can help!

    Listing Contact
    Kristine Bowe

    Listing agent Kristine Bowe

    Listing office BHHS Fox & Roach Mullica Hill 157 Bridgeton Pike, NJ

    Listing date Dec 30, 2025

    MLS# NJGL2067916 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime commercial space in a high‑visibility location on a major thoroughfare with close proximity to 295.
    • 1600 sq ft of flexible, clear‑span open space that can be fit to suit.
    • Rent includes Common Area Maintenance (CAM) fees, paid by the landlord.
    • Plentiful parking available in front, side, and rear of the building.
    • Recent upgrades include a newer roof, newer consistent signage, newer HVAC units, and polished concrete flooring.
    • Anchor tenant is Family Dollar.

    Overview

    Available for sale is a 1600 sq. ft. commercial space located in the Gateway Shopping Center in West Deptford Twp. The property features a one-story structure with slab on grade construction, gas heat, and central air. The unit offers a large, flexible, clear-span open space that can be customized. A restroom is located at the rear of the unit. The property benefits from plentiful parking available at the front, side, and rear. Common Area Maintenance (CAM) is included within the rent and paid by the landlord. Family Dollar serves as an anchor for the strip. The location offers high visibility on a major thoroughfare and close proximity to 295. Upgrades to the property include a newer roof, newer consistent signage bar above each business, newer HVAC units, and polished concrete flooring. The shopping center is well-maintained by a proactive local landlord. This space is suitable for retail, professional offices, restaurant, salon, repair shop, specialty food store, photo studio, art studio, and podcast studio, among other possibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Westville
    County
    Gloucester
    State
    New Jersey
    Longitude
    -75.13665
    Latitude
    39.86147

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    FAQs

    What type of property is this?
    Strip mall - 1600 sq ft space in well-maintained shopping center.
    Where is this strip mall located?
    The property is located at 1997 GATEWAY BOULEVARD Westville, NJ.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime commercial space in a **high‑visibility location** on a major thoroughfare with close proximity to 295.; **1600 sq ft of flexible, clear‑span open space** that can be fit to suit.; Rent includes Common Area Maintenance (CAM) fees, paid by the landlord.
    (856) 981-8841
    We can help!
    Listing Contact
    Kristine Bowe
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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.

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