Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    242 Salem Hancocks Bridge Rd Salem, NJ 08079

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    Contact for pricing

    4.52 acre commercial property with 7,500 SF buildings.

    Lot size:
    4.52 Acres

    Property Features for 242 Salem Hancocks Bridge Rd

    General Information

    Standard status
    Pending
    Lot size
    4.52 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Rich G Warner
    Source: Exitrealty

    Listing Agency: Warner Real Estate & Auction Company Listing Agent: Rich G Warner

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Commercial Property with Buildings

    This commercial property, situated on approximately 4.52 acres, features about 7,500 square feet of buildings, including an office, three shops, and a three-sided storage building. The property includes a fenced yard and is located within the Commercial (C) zoning district of Elsinboro Township. Its location offers proximity to Route 49, Route 40, and the Delaware Memorial Bridge. This property is being sold in "As Is" condition. The real estate is for sale only. It is suitable for a small business operation. Buyer is responsible for any inspections including certificate of occupancy, if required.
    Location Intelligence

    Current Use by Public Records

    Holladays Used Auto ... Auto Parts Store Holladay's Auto Parts Big Box & Wholesale Store

    Suggested Use

    Law Firm Big Box & Wholesale Store Auto Parts Store HVAC Service Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    New Jersey
    Longitude
    -75.4665043
    Latitude
    39.5431579

    Nearby Similar for Sale

    • $345,000
      0.48 Acres

      Medical Office Building Near Hospital

      Professional medical office building across from Inspira Medical Center.
      1 Pointers Auburn Rd, Mannington, NJ 08079
      View Details
    • $350,000
      2,146 SF

      Iconic Salem Oak Diner For Sale

      Turnkey Silk City Diner in Salem's Historic District.
      113 W Broadway, Salem, NJ 08079
      View Details
    • $200,000
      3,000 SF

      Mixed-Use Property in Salem, NJ

      Three-unit mixed-use property with commercial space and apartments in Salem.
      141 W Broadway, Salem, NJ 08079
      View Details
    • $280,000
      6,325 SF

      Two-Story Brick School Facility

      Two-story, 6,325 SF brick school building with subdivision potential.
      31 Oak St, Salem, NJ 08079
      View Details
    • New
      $850,000
      0.65 Acres

      Salem Multifamily Investment Opportunity

      Six-unit apartment building in Salem, NJ with renovation potential.
      82 W Broadway, Salem, NJ 08079
      View Details
    • $225,000
      3,437 SF

      Salem Triplex with Long-Term Tenants

      Triplex in Salem with long-term tenants and separate electric meters.
      59 Market St, Salem, NJ 08079
      View Details
    • $240,000
      3,440 SF

      Multifamily Property in Salem, NJ

      Multifamily property with rental income potential in Salem, New Jersey.
      371 E Broadway, Salem, NJ 08079
      View Details
    • Contact for pricing

      Former Swim Club with Solar

      6200 SF building with pool and income-generating solar array.
      73 Maskells Mill Rd, Salem, NJ 08079
      View Details
    • Contact for pricing

      Stand Alone Building For Sale

      3100 SF building on 1.62 acres, M-1 zoning.
      62 Front St, Salem, NJ 08079
      View Details
    • Contact for pricing
      9,248 SF

      Salem Office Building For Sale

      Office building with basement and parking in Salem, New Jersey.
      125 W Broadway, Salem, NJ 08079
      View Details
    • Contact for pricing

      Gas Station Renovation Opportunity

      Gas station and convenience store requiring renovations and upgrades.
      63 Market St, Salem, NJ 08079
      View Details
    • Contact for pricing

      Two-Story Brick School Facility

      Two-story brick school building with parking in Salem, NJ.
      31 Oak St, Salem, NJ 08079
      View Details

    FAQs

    What type of property is this?
    Flex space - 4.52 acre commercial property with 7,500 SF buildings.
    Where is this flex space located?
    The property is located at 242 Salem Hancocks Bridge Rd Salem, NJ.
    What are key features of this property?
    This property features: - Zoned commercial (C) for versatile business use.; - Situated on approximately 4.52 acres featuring 7,500 SF of buildings including office space, shops, and storage.; - Benefit from a fenced yard.
    (856) 769-4111
    Request Owner's contact information
    242 Salem Hancocks Bridge Rd Salem, NJ 08079
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    242 Salem Hancocks Bridge Rd
    Salem, NJ 08079
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    242 Salem Hancocks Bridge Rd Salem, NJ 08079
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rich G Warner
    (856) 769-4111
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!