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    Retail/Office Space in Pitman, NJ Title is generated by Realmo AI

    7-11 N BROADWAY, Pitman, NJ 08071

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    Claim this Listing
    For Lease
    $2,100/Mo $22 SF/Yr (calc)

    CommercialLease - PITMAN, NJ

    Type:Retail
    Property size:
    1,130 SF
    Lot size:
    0.15 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    106
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 7-11 N BROADWAY

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking
    2
    Parking features
    Parking Lot
    Standard status
    Active
    Size
    1,130 SF
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Hot Water(Heating), Baseboard
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1900
    Number of units
    4
    Building materials
    Frame

    We can help!

    Listing Contact
    Todd A Hahn

    Listing agent Todd A Hahn License #18042

    Listing office RE/MAX Preferred - Mullica Hill 408 Swedesboro Road, Marlton, NJ

    Listing date Feb 20, 2026

    MLS# NJGL2069196

    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.

    HighLights

    • Prime location in the heart of Pitman's downtown/restaurant district.
    • Versatile C1 zoning allows for business, office, or retail use.
    • Utilities and internet are included and paid by the landlord.
    • Private parking in the back of the building plus access to public parking lots.
    • 12' ceilings in the main showroom.
    • Storefront with side and street front door entrances.

    Overview

    This 1130 sq ft storefront is located in the heart of Pitman, in the downtown/restaurant district. It is suitable for business, office, or retail use, classified as C1. The property features private parking at the back of the building, with entrances on the side and street front. The landlord allows build-out to suit tenant needs, at the tenant's expense and at the landlord's discretion. The unit includes a half bath and a partial storage basement. All utilities, including internet, are paid by the landlord. The main showroom has 12' ceilings, while the back area has 8' ceilings. There are two dedicated parking spots for this half of the business, plus two public parking lots across the street. The lot size is 0.152 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • rosebud floralart — 55 Pitman Ave, Pitman, NJ 08071

    Location Insight

    • Map
    • Local Demand
    City
    Pitman
    County
    Gloucester
    State
    New Jersey
    Longitude
    -75.13714
    Latitude
    39.73925

    FAQs

    What type of property is this?
    Storefront property - Retail/office space in Pitman's downtown/restaurant district.
    Where is this storefront property located?
    The property is located at 7-11 N BROADWAY Pitman, NJ.
    What is the lease rate?
    The lease rate is $2,100 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Pitman's downtown/restaurant district.; Versatile C1 zoning allows for business, office, or retail use.; Utilities and internet are included and paid by the landlord.
    (856) 223-1400
    We can help!
    Listing Contact
    Todd A Hahn
    Real Estate License ID: 18042
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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
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