Flex Building with Attached
New
For Sale
$1,299,000
1289 S DELESA DRIVE, Vineland, NJ 08360
COMMERCIAL/INDUSTRIAL, Vineland, NJ
Property Size11,722 SF
Price / SF$110.82
Days on Market7
Property Features for 1289 S DELESA DRIVE
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Office, Laundry Room
Parking features
Off Street
Security features
Security Lighting, Security System
Interior features
220 Volt Electricity, Restroom, Security System, Three Phase Electric
Exterior features
Security Light/System, Sign, Truck Door
Lot features
Highway
Directions
SOUTH DELSEA DRIVE BETWEEN WALNUT AND FOSTER EAST SIDE
Subdivision
Vineland City
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
22500
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
3-phase electrical
LED site lighting
Building Details
Year built
1968
Flooring type
Concrete
Listing Agency:
COLLINI REAL ESTATE, LLC
(609) 928-1212
Listed By:
LOUIS FAVA · License #8442699
(609) 335-0220
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 22 at 3:06PM
MLS# 611940
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes an 11,722-square-foot building configured for warehouse, showroom, office, and service-oriented operations. An attached 40-by-171-foot warehouse expands the usable footprint, while a separate showroom or retail area includes a 10-foot overhead door for deliveries. The property also provides a second-floor office, bathroom, concrete flooring, forced-air natural gas heat, central air, and public water and sewer.
Access is available from Route 47, also known as Delsea Drive, with additional access from Walnut Road. The site has three-phase electric service, 220-volt electricity, LED site lighting, off-street parking, a security system, and exterior signage. B-2 zoning and inclusion in a UEZ zone are also identified for the property.
Access is available from Route 47, also known as Delsea Drive, with additional access from Walnut Road. The site has three-phase electric service, 220-volt electricity, LED site lighting, off-street parking, a security system, and exterior signage. B-2 zoning and inclusion in a UEZ zone are also identified for the property.
Key Highlights
- 11,722‑square‑foot flex building with an attached 40‑by‑171‑foot warehouse
- Eight overhead doors are identified, including 12‑foot doors and a 10‑foot delivery door
- Additional access from Walnut Road complements the Route 47 location
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
$82,230
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
6.33%
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%
$1,644,600
$1.6M
Cap Rate 7%
$1,174,714
$1.2M
Cap Rate 9%
$913,667
$913.7K
Market Conditions
NOI Build-Up for 11,722 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
$105.5K $9.00/SF
− Vacancy
−$8.8K −$0.75/SF
EGI
$96.7K $8.25/SF
− OpEx
−$14.5K −$1.24/SF
NOI
$82.2K $7.02/SF
Area
Cumberland County, NJ
Vacancy
8.30%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,644,600
Cap Rate 7%
$1,174,714
Cap Rate 9%
$913,667
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,494 @ 7.0% cap · market cap 10.89%
Second Best
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,490 @ 7.0% cap · market cap 9.66%
Theoretical Best
Office A
$17.60M
$15.40M – $20.53M
NOI $1,232,048 @ 7.0% cap · market cap 94.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - B-2-zoned commercial facility combining warehouse, showroom, office, and delivery functions with Route 47 and Walnut Road access.
Where is this flex space located?
The property is located at 1289 S DELESA DRIVE Vineland, NJ.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 11,722‑square‑foot flex building with an attached 40‑by‑171‑foot warehouse; Eight overhead doors are identified, including 12‑foot doors and a 10‑foot delivery door; Additional access from Walnut Road complements the Route 47 location
