Building Details

Building Size 25,000 SF

Year Built 1970

Stories 2

Listing Agency: Keller Williams Realty

Listed By: Antonio D Causerano · License #344297 Show Phone

Source: Patmckennarealtors

Added: Oct 16 Changed: Oct 19 Last Checked: Oct 19 at 2:14PM

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Investment Insights

Based on property information with market context.

This flex property contains approximately 25,000 square feet across a 4.58-acre site and was built in 1970. The building has ceiling clearance of 24+ feet, a large drive-in door, and two loft areas. On the main level, a kitchen is equipped with a hood and sink, alongside a 32' x 16' room and an 11' x 39' rear storage room. The upper floor includes four private offices and a sitting area.

An on-site parking lot accommodates approximately 80+ vehicles. Industrial zoning applies; any use remains subject to zoning and municipal approvals.

Key Highlights

• Approximately 25,000 square feet of building area on 4.58 acres
• 24+ feet of ceiling clearance and a large drive‑in door
• Two loft areas; upper floor has four private offices and a sitting area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$272,655

Cap Rate

7.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,453,100 $5.5M

Cap Rate 7%

$3,895,071 $3.9M

Cap Rate 9%

$3,029,500 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 25,000 SF

Gross rent

$428.5K $17.14/SF

− Vacancy

−$39.0K −$1.56/SF

EGI

$389.5K $15.58/SF

− OpEx

−$116.9K −$4.67/SF

NOI

$272.7K $10.91/SF

Area

Gloucester County, NJ

Vacancy

9.10%

Lease Rate

$17.14 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,453,100

Cap Rate 7%

$3,895,071

Cap Rate 9%

$3,029,500

Alternative Uses

Best Use

Industrial

$3.90M

$3.41M – $4.54M (±1% cap)

NOI $272,655 @ 7.0% cap · market cap 7.18%

Second Best

Flex RnD

$3.15M

$2.76M – $3.68M (±1% cap)

NOI $220,594 @ 7.0% cap · market cap 5.81%

Theoretical Best

Office A

$8.40M

$7.35M – $9.80M (±1% cap)

NOI $588,245 @ 7.0% cap · market cap 15.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Legends Ballpark Gym & Fitness Center

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24 ft

Clear height

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

148

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 08080, NJ

37,942

Population

14,746

Households

2.6

Avg Household Size

43

Median Age

44%

College-Educated

96%

High-School Grad

29.2 sq mi

ZIP Area

1,299

Density / Sq Mi

$119,919

Median Household Income

$61,474

Median Earnings

$1,674

Median Rent

$330,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial zoning, a drive-in door, and office areas provide a mix of functional features, subject to municipal approvals.

Where is this flex space located?

The property is located at 120 SEWELL ROAD Sewell, NJ.

What is the asking price?

The asking price for this property is $3,800,000.

What are key features of this property?

This property features: Approximately 25,000 square feet of building area on 4.58 acres; 24+ feet of ceiling clearance and a large drive‑in door; Two loft areas; upper floor has four private offices and a sitting area