Listing Agency: KELLER WILLIAMS ELITE REALTORS K***@kw.com Show Phone

Listed By: YI SHANG Show Phone

Source: Exprealty

Added: May 11 Changed: Nov 2 Last Checked: Nov 4 at 6:58PM

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Investment Insights

Based on property information with market context.

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.

Key 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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,998

Cap Rate

5.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$819,960 $820.0K

Cap Rate 7%

$585,686 $585.7K

Cap Rate 9%

$455,533 $455.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,248 SF

Gross rent

$58.5K $18.00/SF

− Vacancy

−$3.8K −$1.17/SF

EGI

$54.7K $16.83/SF

− OpEx

−$13.7K −$4.21/SF

NOI

$41.0K $12.62/SF

Area

Camden County, NJ

Vacancy

6.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$819,960

Cap Rate 7%

$585,686

Cap Rate 9%

$455,533

Alternative Uses

Best Use

Specialty Retail

$585.7K

$512.5K – $683.3K (±1% cap)

NOI $40,998 @ 7.0% cap · market cap 5.13%

Second Best

Mixed Use

$485.5K

$424.8K – $566.4K (±1% cap)

NOI $33,982 @ 7.0% cap · market cap 4.25%

Theoretical Best

Office A

$823.5K

$720.6K – $960.8K (±1% cap)

NOI $57,648 @ 7.0% cap · market cap 7.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Parking Lot & Garage Law Firm Cafe & Coffee Shop Real Estate Agency Dental Office Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

695

Businesses Nearby

Explore this area Business Placement

Demographics for 08109, NJ

23,306

Population

9,314

Households

2.5

Avg Household Size

41

Median Age

27%

College-Educated

86%

High-School Grad

4.8 sq mi

ZIP Area

4,855

Density / Sq Mi

$84,332

Median Household Income

$44,288

Median Earnings

$1,142

Median Rent

$227,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

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.