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    Versatile Building in Heritage Square Title is generated by Realmo AI

    927 N MAIN STREET E, Pleasantville, NJ 08232

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    For Sale
    $310,000

    Standalone building near AC expressway, ideal for childcare facility.

    Type:Commercial/Industrial
    Lot size:
    0.12 Acres
    Added:
    Feb 18, 2025
    Days on Market:
    466
    Last Refresh:
    May 19 at 10:55 pm

    Property Features for 927 N MAIN STREET E

    General Information

    Standard status
    Active
    Lot size
    0.12 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    Shanta Comeaux-Brookins

    Listing agent Shanta Comeaux-Brookins

    Listing office Real Broker, LLC

    Listing date Feb 18, 2025

    Source Exitrealty

    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 Real Broker, LLC

    HighLights

    • Ideal opportunity for childcare industry investors/entrepreneurs due to ongoing transformation into a medical child's daycare facility.
    • Convenient location minutes from the AC expressway and near Absecon.
    • Standalone building in the rear of Heritage Square Office Park with ample parking.
    • Expansive interior with flexible layout, generous open area, and abundant natural light.
    • High ceilings and large windows creating a warm and comfortable atmosphere.
    • Proximity to amenities including schools, parks, shopping centers, and medical facilities.

    Overview

    Located in Heritage Square Commercial Park, this standalone building is undergoing transformation into a medical child's daycare facility. The property is situated minutes from the AC expressway and near Absecon. The building, originally a church, is located in the rear of Heritage Square Office Park. Ample parking is available on site. The interior features a generous open area, allowing for flexible room arrangement and an abundance of natural light. High ceilings and large windows enhance the sense of space. The surrounding area offers schools, parks, shopping centers, and medical facilities. The property is located close to Absecon and Atlantic City, providing access to a range of amenities and services. This property offers potential for investors or entrepreneurs in the childcare industry.
    Property Profile Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • North Main Street School — 215 N Main St, Pleasantville, NJ 08232
    • Kingdom Academy — 1031 N Main St, Pleasantville, NJ 08232
    • Tiny Hands Learning Center — 101 W Delilah Rd, Pleasantville, NJ 08232
    • Kingdom Academy — 253 N New Rd, Pleasantville, NJ 08232
    • Kingdom Academy 2 — 253 N New Rd, Pleasantville, NJ 08232

    Location Insight

    • Map
    • Local Demand
    City
    Pleasantville
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.511347
    Latitude
    39.405357

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    FAQs

    What type of property is this?
    Day care center - Standalone building near AC expressway, ideal for childcare facility.
    Where is this day care center located?
    The property is located at 927 N MAIN STREET E Pleasantville, NJ.
    What is the asking price?
    The asking price for this property is $310,000.
    What are key features of this property?
    This property features: Ideal opportunity for childcare industry investors/entrepreneurs due to ongoing transformation into a medical child's daycare facility.; Convenient location minutes from the AC expressway and near Absecon.; Standalone building in the rear of Heritage Square Office Park with ample parking.
    (609) 317-0799
    We can help!
    Listing Contact
    Shanta Comeaux-Brookins
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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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    927 N MAIN STREET E, PLEASANTVILLE, NJ 08232
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