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    Turnkey Tattoo Parlor with Apartment Title is generated by Realmo AI

    923 N BROAD STREET, Woodbury, NJ 08096

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    Pending
    $295,000

    CommercialSale - WOODBURY, NJ

    Property size:
    2,570 SF
    Lot size:
    0.14 Acres
    Added:
    Aug 8, 2025
    Days on Market:
    287
    Last Refresh:
    May 21 at 10:06 am

    Property Features for 923 N BROAD STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Size
    2,570 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7793

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Number of units
    2
    Flooring type
    Laminate
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Bill Souders
    Bill Souders

    Listing agent Bill Souders

    Listing office BHHS Fox & Roach Haddonfield 108 Kings Highway East, NJ

    Listing date Aug 8, 2025

    MLS# NJGL2061048 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

    • Turnkey tattoo parlor with a fully functional commercial space (approx. 1,800 sq ft) in a highly visible location.
    • Includes a spacious, well‑maintained 1‑bedroom apartment (approx. 770 sq ft) with private entrance, ideal for owner‑operator or rental income.
    • Recent upgrades include a new roof (2023), central AC (2023), and new storefront window (2024).
    • Commercial space features a bright, open floor plan with excellent natural light and newer plumbing.
    • Includes a gravel parking lot with 7 dedicated spaces.
    • Located in a growing area of Gloucester County, offering investment potential.

    Overview

    This mixed-use property in Woodbury, NJ, features a commercial space and a one-bedroom apartment. The commercial unit, approximately 1,800 square feet, is currently configured as a turnkey tattoo parlor with an open floor plan and natural light. It includes a half bath, multiple storage areas, a former kitchen area with mop sink, and an unfinished basement. Recent upgrades include a new storefront window (2024), a new roof (2023), and central AC (2023). Additional features include newer plumbing supply and drain lines, an alarm system, forced air conditioning and forced heat, and a gravel parking lot with 7 dedicated spaces. The upstairs apartment, approximately 770 square feet, has a private entrance, a tile-floored kitchen with double sink, electric stove, and refrigerator, a full bath, a large living room with a high ceiling, carpet, and ceiling fan, a spacious bedroom with oversized closet, and a small deck area. Some windows have been replaced. Located in a highly visible location, this property is suitable for an artist, entrepreneur, or investor. The lot size is 0.14 acres. This live/work setup is ideal for an owner-operator or as an income-generating rental.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodbury
    County
    Gloucester
    State
    New Jersey
    Longitude
    -75.1276
    Latitude
    39.8266

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    FAQs

    What type of property is this?
    Live-work space - Mixed-use property with commercial space and a one-bedroom apartment.
    Where is this live-work space located?
    The property is located at 923 N BROAD STREET Woodbury, NJ.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Turnkey tattoo parlor with a fully functional commercial space (approx. 1,800 sq ft) in a highly visible location.; Includes a spacious, well‑maintained 1‑bedroom apartment (approx. 770 sq ft) with private entrance, ideal for owner‑operator or rental income.; Recent upgrades include a new roof (2023), central AC (2023), and new storefront window (2024).
    (856) 834-4968
    We can help!
    Listing Contact
    Bill Souders
    Bill Souders
    Real Estate License ID: 8638234
    Learn More
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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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