High-Frontage Flex and Office
For Sale
$740,000
1348 Route 38, Hainesport, NJ 08036
Flex building with showroom and offices, plus two adjacent flex buildings, sold as-is.
Property Size7,000 SF
Price / SF$105.71
Days on Market48
Property Features for 1348 Route 38
General Information
Standard status
Active
Size
7,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1963
Listing Agency:
EXP Realty, LLC
Listed By:
Yodimila T Langan · License #791162
(972) 689-0671
Source:
Kandorre
Added: Jul 21
Changed: Aug 22
Last Checked: Sep 5 at 11:02AM
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
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.
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 = 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
$62,798
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
8.49%
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%
$1,255,960
$1.3M
Cap Rate 7%
$897,114
$897.1K
Cap Rate 9%
$697,756
$697.8K
Market Conditions
NOI Build-Up for 7,000 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
$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 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%
$1,255,960
Cap Rate 7%
$897,114
Cap Rate 9%
$697,756
Alternative Uses
Best Use
Industrial
$12.06M
$10.55M – $14.07M
NOI $843,974 @ 7.0% cap · market cap 114.05%
Second Best
Flex RnD
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 12.22%
Theoretical Best
Warehouse
$14.64M
$12.81M – $17.08M
NOI $1,024,826 @ 7.0% cap · market cap 138.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
