Mixed-Use Building with
For Sale
$525,000
Pending
189 BROADWAY, Westville, NJ 08093
C3-zoned property combines commercial space with residential apartments and separate gas and electric meters.
Property Size3,540 SF
Days on Market53
Property Features for 189 BROADWAY
General Information
Standard status
Pending
Size
3,540 SF
Property subtype
Commercial
Building Details
Year Built
1928
Listing Agency:
Real Broker, LLC
(856) 823-1556
Listed By:
Timothy Kerr Jr. · License #0568781
(609) 870-4369
Source:
Cummingsrealtors
Added: Aug 19
Changed: Oct 10
Last Checked: Oct 9 at 10:59PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Located at 189 Broadway in Westville, this 3,540-square-foot mixed-use building dates to 1928 and contains two storefronts alongside three residential apartments. One retail space is leased, while the second is vacant. The property also includes private tenant parking and separate gas and electric meters.
The building is situated in downtown Westville within the Commercial C3 district. Potential commercial applications identified for the district include retail, business and professional offices, restaurants, cafés, financial institutions, personal services, commercial laundry services, and medical or dental offices; specific use should be confirmed with Westville Zoning. The property also offers access to major highways and neighboring towns.
The building is situated in downtown Westville within the Commercial C3 district. Potential commercial applications identified for the district include retail, business and professional offices, restaurants, cafés, financial institutions, personal services, commercial laundry services, and medical or dental offices; specific use should be confirmed with Westville Zoning. The property also offers access to major highways and neighboring towns.
Key Highlights
- Two storefronts and three residential apartments in one mixed‑use building
- 3,540‑square‑foot property at 189 Broadway, Westville, NJ 08093
- One retail space is leased; the second storefront is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,377
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,540
$827.5K
Cap Rate 7%
$591,100
$591.1K
Cap Rate 9%
$459,744
$459.7K
Market Conditions
NOI Build-Up for 3,540 SF
Gross rent
$79.9K $22.56/SF
− Vacancy
−$4.6K −$1.31/SF
EGI
$75.2K $21.25/SF
− OpEx
−$33.9K −$9.56/SF
NOI
$41.4K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,540
Cap Rate 7%
$591,100
Cap Rate 9%
$459,744
Alternative Uses
Best Use
Apartment 5plus
$591.1K
$517.2K – $689.6K
NOI $41,377 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$572.5K
$500.9K – $667.9K
NOI $40,072 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,295 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 08093, NJ
9,933
Population
4,473
Households
2.2
Avg Household Size
39
Median Age
22%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,483
Density / Sq Mi
$70,257
Median Household Income
$41,051
Median Earnings
$1,230
Median Rent
$192,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C3-zoned property combines commercial space with residential apartments and separate gas and electric meters.
Where is this mixed-use property located?
The property is located at 189 BROADWAY Westville, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two storefronts and three residential apartments in one mixed‑use building; 3,540‑square‑foot property at 189 Broadway, Westville, NJ 08093; One retail space is leased; the second storefront is vacant
