Turnkey Former Wawa Retail/Medical
For Sale
$975,000
17 FORT DIX ROAD, Pemberton, NJ 08068
Purpose-built, updated site with retail and office space suited for pharmacy, urgent care, or other high-throughput retail concepts.
Property Size3,300 SF
Days on Market75
Property Features for 17 FORT DIX ROAD
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$18,395
Building Details
Building Size
3,300 SF
Year Built
1986
Year Renovated
2009
Stories
2
Listing Agency:
Keller Williams Realty - Marlton
(609) 458-3711
Listed By:
James L Moffa · License #901791
(609) 458-3711
Source:
Patmckennarealtors
Added: Jun 16
Changed: Aug 28
Last Checked: Aug 26 at 2:15PM
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 Keller Williams Realty - Marlton
Investment Insights
Based on property information with market context.
This turnkey former Wawa has been converted to a pharmacy and was completely updated and rehabbed in 2009. The property includes onsite drainage, paving, utilities, a parking lot, and utility service already in place. The first floor features a 59’ x 38’ open retail space area, along with multiple partitioned offices sized 11’ x 9’, 25’ x 7’, and 14’ x 8’, plus a restroom measuring 9’ x 8’. The second floor includes three offices (19’ x 12’, an L-shaped office at 22’ x 8’/9’ x 12’, and an 8’ x 12’ office). An attic area houses two of the three HVAC systems.
Located at 17 Fort Dix Rd in Pemberton, NJ, the site is positioned in the Tri-State Area and near Joint Base McGuire-Dix-Lakehurst. The property is described as having strong access to major transportation routes, including NJ I-295, PA I-95, Routes 38, 70, 73, and 206, along with the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Nearby retail amenities mentioned include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and the Marketplace at Garden State Park. Major medical institutions cited nearby include the University of Pennsylvania, Cooper MD Anderson Cancer Center, Fox Chase Cancer Center, and Virtua Health System.
The layout and existing infrastructure support tenant use cases such as urgent care, dental, pharmacy, medical office, specialty retail, and other high turnover concepts, with the option to adapt the floor plan to match the intended operation.
Located at 17 Fort Dix Rd in Pemberton, NJ, the site is positioned in the Tri-State Area and near Joint Base McGuire-Dix-Lakehurst. The property is described as having strong access to major transportation routes, including NJ I-295, PA I-95, Routes 38, 70, 73, and 206, along with the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Nearby retail amenities mentioned include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and the Marketplace at Garden State Park. Major medical institutions cited nearby include the University of Pennsylvania, Cooper MD Anderson Cancer Center, Fox Chase Cancer Center, and Virtua Health System.
The layout and existing infrastructure support tenant use cases such as urgent care, dental, pharmacy, medical office, specialty retail, and other high turnover concepts, with the option to adapt the floor plan to match the intended operation.
Key Highlights
- Purpose‑built former Wawa site (built 1986), converted to pharmacy and completely updated/rehabbed in 2009
- Site includes onsite drainage, paving, utilities, and parking lot with utility service plus existing curb cuts
- First floor offers 59’x38’ SF open retail area with partitioned offices: 11’x9’, 25’x7’, 14’x8’, plus restroom 9’x8’
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
$49,348
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
5.06%
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%
$986,960
$987.0K
Cap Rate 7%
$704,971
$705.0K
Cap Rate 9%
$548,311
$548.3K
Market Conditions
NOI Build-Up for 3,300 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
$74.1K $22.44/SF
− Vacancy
−$3.6K −$1.08/SF
EGI
$70.5K $21.36/SF
− OpEx
−$21.1K −$6.41/SF
NOI
$49.3K $14.95/SF
Area
Burlington County, NJ
Vacancy
4.80%
Lease Rate
$22.44 /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%
$986,960
Cap Rate 7%
$704,971
Cap Rate 9%
$548,311
Alternative Uses
Best Use
Retail
$705.0K
$616.9K – $822.5K
NOI $49,348 @ 7.0% cap · market cap 5.06%
Second Best
Healthcare Medical
$655.2K
$573.3K – $764.4K
NOI $45,863 @ 7.0% cap · market cap 4.70%
Theoretical Best
Warehouse
$6.90M
$6.04M – $8.05M
NOI $483,132 @ 7.0% cap · market cap 49.55%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08068, NJ
6,628
Population
2,888
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
23.3 sq mi
ZIP Area
284
Density / Sq Mi
$79,570
Median Household Income
$48,498
Median Earnings
$1,100
Median Rent
$256,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Boyd's Pharmacy — 17 Fort Dix Rd, Pemberton, NJ 08068
Frequently Asked Questions
What type of property is this?
Drug store - Purpose-built, updated site with retail and office space suited for pharmacy, urgent care, or other high-throughput retail concepts.
Where is this drug store located?
The property is located at 17 FORT DIX ROAD Pemberton, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Purpose‑built former Wawa site (built 1986), converted to pharmacy and completely updated/rehabbed in 2009; Site includes onsite drainage, paving, utilities, and parking lot with utility service plus existing curb cuts; First floor offers 59’x38’ SF open retail area with partitioned offices: 11’x9’, 25’x7’, 14’x8’, plus restroom 9’x8’
