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    Route 73 Frontage Retail/Office Title is generated by Realmo AI

    339 N ROUTE 73, Berlin, NJ 08009

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    For Lease
    $14 SF/Yr $16,333/Mo (calc)

    Flexible retail/office units with high visibility on Route 73.

    Type:Rental
    Property size:
    14,000 SF
    Lot size:
    3.90 Acres
    Added:
    Feb 6, 2025
    Days on Market:
    478
    Last Refresh:
    May 20 at 1:40 am

    Property Features for 339 N ROUTE 73

    General Information

    Standard status
    Active
    Size
    14,000 SF
    Lot size
    3.90 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Leor Hemo
    Leor Hemo

    Listing agent Leor Hemo License #0681182

    Listing office Vantage Real Estate Services

    Listing date Feb 6, 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 Vantage Real Estate Services

    HighLights

    • High visibility location directly off Route 73 with controlled traffic flow.
    • Flexible unit sizes ranging from +/- 650‑2,200 SF on the first floor and lower level.
    • Existing +/- 14,000 SF building on a +/- 4 acre property.
    • Recently upgraded HVAC with high‑efficiency heating systems.
    • Easy access with front and rear entry doors.
    • Ongoing residential development adjacent to the property.

    Overview

    This property features approximately 4 acres with an existing building of approximately 14,000 square feet. It offers flexible unit sizes ranging from approximately 650 to 2,200 square feet on the first floor and lower level. The building provides easy access with front and rear entry doors. The HVAC system has been recently upgraded with high-efficiency heating systems. Some spaces include private restrooms, kitchenettes, reception areas, and energy-efficient LED lighting. The property is located directly off of Route 73, providing high visibility and controlled traffic flow. Ongoing residential development adjacent to the property presents significant opportunities for growth. The lease rate is $14 per square foot, plus taxes, insurance, and common area maintenance (TEC) at $1.50 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Skin Care Clinic Kitchen & Bath Showroom HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Camden
    State
    New Jersey
    Longitude
    -74.909873
    Latitude
    39.752512

    Nearby Similar for Lease

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    • $9 SF/Yr
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      Office and Warehouse Space Available

      Office and warehouse space available for lease near major routes.
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    • Contact for pricing
      4,500 SF

      Versatile Space on Route 73

      Adaptable retail, restaurant, or office space with highway access.
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    • $12 SF/Yr
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      Retail Space in Berlin Corridor

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    FAQs

    What type of property is this?
    Office units - Flexible retail/office units with high visibility on Route 73.
    Where is this office units located?
    The property is located at 339 N ROUTE 73 Berlin, NJ.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High visibility location directly off Route 73 with controlled traffic flow.; Flexible unit sizes ranging from +/- 650‑2,200 SF on the first floor and lower level.; Existing +/- 14,000 SF building on a +/- 4 acre property.
    (856) 797-1919
    We can help!
    Listing Contact
    Leor Hemo
    Leor Hemo
    Real Estate License ID: 0681182
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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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    339 N ROUTE 73, BERLIN, NJ 08009
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