Mixed-Use Property in
24 S Centre Street S, Merchantville, NJ 08109
Versatile property with restaurant and residential spaces in downtown Merchantville.
Property size:
3,248 SFPrice / SF:
$245/SF- Added:
- May 12, 2026
- Days on Market:
- 19
- Last Refresh:
- May 25 at 9:10 pm
Property Features for 24 S Centre Street S
General Information
- Standard status
- Active
- Size
- 3,248 SF
Listing agent YI SHANG
Listing office KELLER WILLIAMS ELITE REALTORS (732) 549-1998
Listing date May 12, 2026
Source Exprealty
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 ELITE REALTORS
HighLights
- Mixed‑use property in Merchantville's downtown district offering both commercial and residential income potential.
- First floor equipped for restaurant use with a spacious dining area, commercial kitchen, prep area, and ADA‑compliant restrooms.
- Spacious 2‑bedroom residential apartment on the upper level with stainless steel appliances.
- Rooftop HVAC and commercial ventilation systems already installed for restaurant operations.
- Full basement provides ample storage or additional operational space.
- Convenient location near Cherry Hill, Collingswood, and Philadelphia, with strong visibility and easy access to shopping, dining, and major commuter routes.
Overview
This mixed-use property is located in the heart of Merchantville's downtown district. The first floor is set up for restaurant use and features a spacious dining area, a commercial kitchen, a prep area, and two ADA-compliant restrooms. Rooftop HVAC and commercial ventilation systems are installed for restaurant operations. A full basement provides room for storage or additional operational use. The upper level offers a residential apartment with 2 bedrooms, multiple living areas, and a kitchen equipped with stainless steel appliances. The property is situated near Cherry Hill, Collingswood, and Philadelphia, and benefits from strong visibility, easy accessibility, and close proximity to shopping, dining, and major commuter routes. The property size is 3248 square feet. It is suited for owner-operators, mixed-use investors, or those seeking both residential and commercial income potential.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.5k | $18.00 |
| − Vacancy | −$3.8k | −$1.17 |
| EGI | $54.7k | $16.83 |
| − OpEx | −$13.7k | −$4.21 |
| NOI | $41.0k | $12.62 |
3,248 SF · lease $18.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$585.7K
$512.5K – $683.3K
NOI $40,998 @ 7.0% cap · market cap 5.13%
Second Best
Mixed Use
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$823.5K
$720.6K – $960.8K
NOI $57,648 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Merchantville
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0501
- Latitude
- 39.95
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Versatile property with restaurant and residential spaces in downtown Merchantville.
Where is this mixed-use property located?
The property is located at 24 S Centre Street S Merchantville, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Mixed‑use property in Merchantville's downtown district offering both commercial and residential income potential.; First floor equipped for restaurant use with a spacious dining area, commercial kitchen, prep area, and ADA‑compliant restrooms.; Spacious 2‑bedroom residential apartment on the upper level with stainless steel appliances.
