Retail Storefront with Dual
For Sale
$645,000
1115 N BLACK HORSE PIKE, Glendora, NJ 08029
Former convenience-store building with roadside signage, parking, and a deed restriction excluding convenience-store use.
Property Size3,300 SF
Days on Market97
Property Features for 1115 N BLACK HORSE PIKE
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
20
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$14,627
Building Details
Building Size
3,300 SF
Year Built
1978
Listing Agency:
Keller Williams Realty
(267) 506-7100
Listed By:
Andrew F Cheng · License #1860945
(267) 506-7100
Source:
Brucerealty
Added: May 25
Changed: Aug 28
Last Checked: Aug 26 at 11:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This retail storefront, constructed in 1978, was formerly occupied by Wawa and offers an existing commercial building for reuse. The property is positioned for potential retail, medical, restaurant, pizza shop, mobile phone store, or other retail applications, subject to applicable requirements and the recorded deed restriction.
Signage is available along Black Horse Pike, with access from both Black Horse Pike and Old Black Horse Pike. The property sits just off Rt 42 at the meeting point of the two Black Horse Pike roadways and includes a 20+/- parking lot. Convenience-store use is specifically prohibited by deed restriction.
Signage is available along Black Horse Pike, with access from both Black Horse Pike and Old Black Horse Pike. The property sits just off Rt 42 at the meeting point of the two Black Horse Pike roadways and includes a 20+/- parking lot. Convenience-store use is specifically prohibited by deed restriction.
Key Highlights
- Former Wawa storefront constructed in 1978
- Located on busy Black Horse Pike, just off Rt 42
- Access from both Black Horse Pike and Old Black Horse Pike
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
$31,774
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
4.93%
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%
$635,480
$635.5K
Cap Rate 7%
$453,914
$453.9K
Cap Rate 9%
$353,044
$353.0K
Market Conditions
NOI Build-Up for 3,300 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
$49.5K $15.00/SF
− Vacancy
−$4.1K −$1.25/SF
EGI
$45.4K $13.76/SF
− OpEx
−$13.6K −$4.13/SF
NOI
$31.8K $9.63/SF
Area
Camden County, NJ
Vacancy
8.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$635,480
Cap Rate 7%
$453,914
Cap Rate 9%
$353,044
Alternative Uses
Best Use
Retail
$453.9K
$397.2K – $529.6K
NOI $31,774 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.7K
$732.1K – $976.2K
NOI $58,571 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
American Heritage Credit Union
Shops & Services
8,718 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,088 visits/mo
0.4 miles
Dollar General
Shops & Services
5,525 visits/mo
0.1 miles
PNC Bank
Shops & Services
5,439 visits/mo
0.1 miles
Wells Fargo
Shops & Services
4,003 visits/mo
0.3 miles
Demographics for 08029, NJ
4,900
Population
2,217
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
94%
High-School Grad
1.1 sq mi
ZIP Area
4,455
Density / Sq Mi
$95,038
Median Household Income
$50,658
Median Earnings
$782
Median Rent
$220,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Aversa's Flower Shop Inc — 812 N Black Horse Pike, Glendora, NJ 08029
Frequently Asked Questions
What type of property is this?
Storefront property - Former convenience-store building with roadside signage, parking, and a deed restriction excluding convenience-store use.
Where is this storefront property located?
The property is located at 1115 N BLACK HORSE PIKE Glendora, NJ.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Former Wawa storefront constructed in 1978; Located on busy Black Horse Pike, just off Rt 42; Access from both Black Horse Pike and Old Black Horse Pike
