Renovated Flex Space with Overhead
For Sale
$250,000
427 Buck Street, Millville, NJ 08332
COMMERCIAL/INDUSTRIAL, Millville, NJ
Property Size2,000 SF
Price / SF$125
Days on Market195
Property Features for 427 Buck Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DC
Directions
Corner of Buck St and E Oak St
Subdivision
Millville City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3590
Amenities
overhead door
office/retail space
Building Details
Number of units
1
Listing Agency:
COLDWELL BANKER ARGUS REAL ESTATE-Ventnor · Coldwell Banker Real Estate
(609) 822-3700
Listed By:
Matthew Bonomini · License #2321153
(631) 398-3519
Added: Feb 9
Changed: Aug 19
Last Checked: Aug 23 at 2:06PM
MLS# 604539
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 2,000-square-foot flex property at 427 Buck Street includes an overhead door and space that can accommodate office or retail functions along the street. The configuration is suited to a range of commercial operations, including automotive, workshop, supply, and storage uses identified for the building.
Property improvements completed since 2023 include a new roof, renovated interior, garage door opener, windows, and doors. An additional lot at 9 E Oak Street sits behind the property and is included in the offering. The site is located in Millville’s Urban Enterprise Zone and carries DC zoning.
Property improvements completed since 2023 include a new roof, renovated interior, garage door opener, windows, and doors. An additional lot at 9 E Oak Street sits behind the property and is included in the offering. The site is located in Millville’s Urban Enterprise Zone and carries DC zoning.
Key Highlights
- Approximately 2,000 SF flex building with an overhead door
- Street‑facing area for office or retail use
- New roof and renovated interior completed since 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,411
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,220
$428.2K
Cap Rate 7%
$305,871
$305.9K
Cap Rate 9%
$237,900
$237.9K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.0K $18.00/SF
− Vacancy
−$3.1K −$1.53/SF
EGI
$32.9K $16.47/SF
− OpEx
−$11.5K −$5.76/SF
NOI
$21.4K $10.71/SF
Area
Cumberland County, NJ
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$428,220
Cap Rate 7%
$305,871
Cap Rate 9%
$237,900
Alternative Uses
Best Use
Retail
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 9.66%
Second Best
Flex RnD
$305.9K
$267.6K – $356.9K
NOI $21,411 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$3.00M
$2.63M – $3.50M
NOI $210,211 @ 7.0% cap · market cap 84.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Bolt Catering & Meal Prep — 706 N 8th St, Millville, NJ 08332
Frequently Asked Questions
What type of property is this?
Flex space - DC-zoned property includes an overhead door and room for street-facing office or retail use.
Where is this flex space located?
The property is located at 427 Buck Street Millville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 2,000 SF flex building with an overhead door; Street‑facing area for office or retail use; New roof and renovated interior completed since 2023
