Building Details

Year Built 1963

Listing Agency: EXP Realty, LLC

Listed By: Yodimila T Langan · License #791162 Show Phone

Source: Kandorre

Added: Jul 21 Changed: Oct 9 Last Checked: Oct 7 at 3:01PM

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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 EXP Realty, LLC

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Investment Insights

Based on property information with market context.

This property is a flex and office building featuring a spacious showroom area at the main entrance, along with 1 full bathroom. Upstairs, there are 4 office rooms and an additional bathroom. Adjacent to the showroom, there are 2 more huge flex buildings that provide flexibility for a range of commercial configurations. The seller is offering the property for sale in “as-is” condition.

Located on Route 38 in Hainesport, NJ, the property is described as having high visibility with highway frontage and signage.

As presented in the listing, the space is intended to support a variety of potential uses, including retail, medical offices or clinics, furniture sales, banks, and personal service or professional office uses, depending on the intended buildout and operations.

Key Highlights

• 1963‑built flex/commercial property sold as‑is
• Main building includes a spacious showroom, 1 full bathroom, and four upstairs office rooms with 1 bathroom
• Two adjacent huge flex buildings provide added space for conversion to offices or other uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,798

Cap Rate

8.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,255,960 $1.3M

Cap Rate 7%

$897,114 $897.1K

Cap Rate 9%

$697,756 $697.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$94.1K $13.44/SF

− Vacancy

−$10.3K −$1.48/SF

EGI

$83.7K $11.96/SF

− OpEx

−$20.9K −$2.99/SF

NOI

$62.8K $8.97/SF

Area

Burlington County, NJ

Vacancy

11.00%

Lease Rate

$13.44 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,255,960

Cap Rate 7%

$897,114

Cap Rate 9%

$697,756

Alternative Uses

Best Use

Industrial

$12.06M

$10.55M – $14.07M (±1% cap)

NOI $843,974 @ 7.0% cap · market cap 114.05%

Second Best

Flex RnD

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,418 @ 7.0% cap · market cap 12.22%

Theoretical Best

Warehouse

$14.64M

$12.81M – $17.08M (±1% cap)

NOI $1,024,826 @ 7.0% cap · market cap 138.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Real Estate Agency Hair Salon Law Firm Nail Salon Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08036, NJ

6,021

Population

2,601

Households

2.3

Avg Household Size

47

Median Age

47%

College-Educated

96%

High-School Grad

6.4 sq mi

ZIP Area

941

Density / Sq Mi

$137,610

Median Household Income

$66,396

Median Earnings

$1,453

Median Rent

$397,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Flex building with showroom and offices, plus two adjacent flex buildings, sold as-is.

Where is this flex space located?

The property is located at 1348 Route 38 Hainesport, NJ.

What is the asking price?

The asking price for this property is $740,000.

What are key features of this property?

This property features: 1963‑built flex/commercial property sold as‑is; Main building includes a spacious showroom, 1 full bathroom, and four upstairs office rooms with 1 bathroom; Two adjacent huge flex buildings provide added space for conversion to offices or other uses