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    2 Chestnut St Pennsville, NJ 08070

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    Sponsored
    For Sale
    $359,900

    Commercial Sale - PENNSVILLE, NJ

    Type:Office
    Property size:
    1,200 SF
    Lot size:
    0.20 Acres
    Days on Market:
    55
    Last Refresh:
    Mar 10 at 12:06 pm

    Property Features for 2 Chestnut St

    General Information

    Property type
    Other
    Property subtype
    Office
    Standard status
    Active
    Parking
    9
    Parking features
    Offsite, Parking Lot, Driveway
    Size
    1,200 SF
    Lot size
    0.20 Acres

    Utilities

    Heating system
    Radiant, Forced Air
    Cooling system
    Wall Unit(s), Multi Units, Zoned, Central Air

    Building Details

    Year built
    1972
    Number of units
    4
    Building materials
    Brick

    We can help!

    Listing Contact
    David H. Wright

    Mahoney Realty (856) 678-5533

    Listing agent David H. Wright (856) 678-5533 License #8735385

    Listing date Jan 14, 2026

    MLS# NJSA2017658

    Copyright © 2026 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.

    Learn more

    Property Insight Report

    Overview

    Two-Building Commercial Office Property

    This commercial property features two separate buildings on a single deed and tax bill. The main two-story building includes three office rental units. The first floor suite, approximately 1,200 square feet, contains a reception area, three private offices, a storage area, and a private restroom, and is equipped with its own HVAC system. The second floor houses two suites, each with a reception area and two private offices, sharing a common bathroom. A separate building is located at the rear of the property, facing Chestnut Street, and features a large open area with a restroom, electric baseboard heat, and a wall-mounted air conditioning unit. Recent updates include a new roof on the main building installed in 2019, new windows on the second floor, newer luxury vinyl flooring in unit C and in the back building, and a new front door with dual sidelights. Two natural gas lines have been installed in anticipation of converting the building's heaters from fuel oil to natural gas. The property includes a paved parking lot with nine spaces and nighttime lighting, as well as a lawn with a sprinkler irrigation system. The current combined rental income is $3,925 per month. Potential uses for the building include a business office, an attorney's office, an insurance office, or a doctor's office. Unit A in the main building is currently vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Law Office Of John ... Law Firm American Home Bank ... Loan Service A Peaceful Place Theraputic ... Corporate Office Center for Family Services Social Service Agency CSI GROUP, LLP. ... Accounting Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Pennsville
    County
    Salem
    State
    New Jersey
    Longitude
    -75.5213089
    Latitude
    39.65359116

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    FAQs

    What type of property is this?
    Office building - Two-building commercial property with rental income potential in Pennsville, NJ.
    Where is this office building located?
    The property is located at 2 Chestnut St Pennsville, NJ.
    What is the asking price?
    The asking price for this property is $359,900.
    What are key features of this property?
    This property features: - Combined rental income of $3,925 per month.; - Two separate buildings on one deed and tax bill, offering multiple rental units and business possibilities.; - Main building features a **1,200 sq ft first-floor suite** with reception area, 3 private offices, storage, private restroom, and dedicated HVAC.
    (856) 678-5533
    Request Owner's contact information
    2 Chestnut St Pennsville, NJ 08070
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    Pennsville, NJ 08070
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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
    2 Chestnut St Pennsville, NJ 08070
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    We can help!
    Listing Contact
    David H. Wright
    Real Estate License ID: 8735385
    (856) 678-5533 (609) 420-2029
    Learn more
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