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    Unique Bank Building on Route Title is generated by Realmo AI

    1507 Route, Tabernacle, NJ 08088

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    For Sale
    $789,000

    Well-maintained commercial property with high visibility and distinctive architectural features.

    Type:Commercial
    Added:
    May 27, 2025
    Days on Market:
    358
    Last Refresh:
    Apr 5 at 8:13 pm

    Property Features for 1507 Route

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    LEOR HEMO
    LEOR HEMO

    Listing agent LEOR HEMO

    Listing office VANTAGE REAL ESTATE SERVICES

    Listing date May 27, 2025

    Source Corcoran

    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 VANTAGE REAL ESTATE SERVICES

    HighLights

    • High visibility location on Route 206 with 15,000‑20,000 daily traffic count.
    • Large 2.8‑acre lot.
    • Unique architectural features including a roof cupola and original bank vault.
    • Expanded in 2015 and well‑maintained.
    • Excellent accessibility due to its location before a signaled intersection.
    • Strong sense of community with a balance of rural charm and accessibility to nearby towns.

    Overview

    Located on a 2.8-acre lot along Route 206, this commercial property benefits from significant street-level exposure and visibility. The location, situated just before a signaled intersection, enhances accessibility. Traffic counts range from an estimated 15,000 to 20,000 vehicles per day, increasing on weekends. Originally constructed as a bank in 1978, the well-maintained building was expanded in 2015 and retains its distinctive architectural features, including a prominent roof cupola and an original 11-foot by 15-foot bank vault. These elements add unique character and potential branding opportunities. The surrounding area has a strong sense of community, with local businesses and amenities that cater to residents’ needs. While the area maintains a rural charm, it’s well-connected to nearby towns offering additional services and attractions. This balance of tranquility and accessibility makes the location appealing.
    Location Intelligence

    Current Use by Public Records

    Banks

    Map

    City
    Tabernacle
    County
    Burlington
    State
    New Jersey
    Longitude
    -74.6301
    Latitude
    39.7955

    Nearby Similar for Sale

    • $399,000

      Professional Office on Route 206

      Well-maintained office building on a highly visible one-acre lot.
      1531 Route 206, TABERNACLE, NJ 08088
      View Details
    • $789,000
      2,350 SF

      Route 206 Commercial Property

      Well-maintained commercial property on 2.8 acres with high visibility.
      1507 Route 206, Tabernacle, NJ
      View Details

    FAQs

    What type of property is this?
    Bank - Well-maintained commercial property with high visibility and distinctive architectural features.
    Where is this bank located?
    The property is located at 1507 Route Tabernacle, NJ.
    What is the asking price?
    The asking price for this property is $789,000.
    What are key features of this property?
    This property features: High visibility location on Route 206 with 15,000‑20,000 daily traffic count.; Large 2.8‑acre lot.; Unique architectural features including a roof cupola and original bank vault.
    (856) 797-1919
    We can help!
    Listing Contact
    LEOR HEMO
    LEOR HEMO
    Learn More
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    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
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