Flex Space with Overhead
New
For Sale
$1,100,000
2242 S Delsea Dr, Vineland, NJ 08360
Commercial property with adaptable interiors, vehicle maneuvering areas, and rear storage structures along S Delsea Drive.
Property Size6,936 SF
Lot Size2.00 Acres
Price / SF$158.59
Days on Market4
Property Features for 2242 S Delsea Dr
General Information
Standard status
Active
Size
6,936 SF
Lot size
2.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
3
Amenities
overhead garage doors
Building Details
Year Built
1994
Listing Agency:
BHHS Fox & Roach-Vineland
(856) 979-1116
Listed By:
Susanna Philippoussis · License #450943
Source:
Kandorre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 7:53AM
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 BHHS Fox & Roach-Vineland
Investment Insights
Based on property information with market context.
The property includes an approximately 2-acre commercial site with an existing 6,000+ SF building constructed in 1994. The main structure has three overhead garage doors and flexible interior areas that can accommodate automotive service, warehousing, or repurposing. Additional storage and warehouse buildings are positioned behind the primary building, with parking and maneuvering areas suitable for large commercial vehicles.
Located along S Delsea Drive, a county highway, the property is surrounded by national retailers, automotive dealerships, restaurants, banks, and service-oriented businesses. The combination of an established commercial building, accessory storage structures, and highway frontage supports a range of flex-space and industrial applications.
Located along S Delsea Drive, a county highway, the property is surrounded by national retailers, automotive dealerships, restaurants, banks, and service-oriented businesses. The combination of an established commercial building, accessory storage structures, and highway frontage supports a range of flex-space and industrial applications.
Key Highlights
- Approximately 2± acres along S Delsea Drive
- Existing 6,000+ SF commercial building constructed in 1994
- Three (3) overhead garage doors
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
$83,723
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
7.61%
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%
$1,674,460
$1.7M
Cap Rate 7%
$1,196,043
$1.2M
Cap Rate 9%
$930,256
$930.3K
Market Conditions
NOI Build-Up for 6,936 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
$124.8K $18.00/SF
− Vacancy
−$5.2K −$0.76/SF
EGI
$119.6K $17.24/SF
− OpEx
−$35.9K −$5.17/SF
NOI
$83.7K $12.07/SF
Area
Cumberland County, NJ
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,674,460
Cap Rate 7%
$1,196,043
Cap Rate 9%
$930,256
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $83,723 @ 7.0% cap · market cap 7.61%
Second Best
Flex RnD
$1.06M
$928.2K – $1.24M
NOI $74,253 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$10.41M
$9.11M – $12.15M
NOI $729,012 @ 7.0% cap · market cap 66.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Well-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 - Commercial property with adaptable interiors, vehicle maneuvering areas, and rear storage structures along S Delsea Drive.
Where is this flex space located?
The property is located at 2242 S Delsea Dr Vineland, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 2± acres along S Delsea Drive; Existing 6,000+ SF commercial building constructed in 1994; Three (3) overhead garage doors
