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    Mixed-Use Property in Merchantville, NJ Title is generated by Realmo AI

    24 S Centre Street S, Merchantville, NJ 08109

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    Picture of Mixed-use properties at 24 S Centre Street S, Merchantville, NJ
    For Sale
    $799,000

    COMMERCIAL - Merchantville, NJ

    Property size:
    3,248 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $245/SF
    Added:
    May 11, 2026
    Days on Market:
    7
    Last Refresh:
    May 17 at 6:06 am

    Property Features for 24 S Centre Street S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-1
    Parking
    1
    Parking features
    Driveway
    Standard status
    Active
    APN
    24000220000000260000X
    Size
    3,248 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1957
    Floors in Building
    2
    Flooring type
    Tile - Ceramic
    Building materials
    Brick
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Yi Shang

    Listing agent Yi Shang

    Listing office KELLER WILLIAMS ELITE REALTORS 481 MEMORIAL PARKWAY, Metuchen, NJ

    Listing date May 11, 2026

    MLS# 2615552R

    Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property in Merchantville's downtown district offering both commercial (restaurant‑ready) 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.
    • Full basement provides ample storage or additional operational space.
    • Rooftop HVAC and commercial ventilation systems already installed for restaurant operations.
    • Convenient location near Cherry Hill, Collingswood, and Philadelphia, with strong visibility and easy access to shopping, dining, and major commuter routes.

    Overview

    Located in the heart of Merchantville's downtown district, this versatile mixed-use property presents an opportunity for investors and owner-operators. The first floor is configured for restaurant use, featuring a spacious dining area, a commercial kitchen, a prep area, and two ADA-compliant restrooms. Rooftop HVAC and commercial ventilation systems are installed to support restaurant operations. A full basement provides space for storage or additional operational use. The upper level contains a residential apartment with 2 bedrooms, multiple living areas, and a kitchen equipped with stainless steel appliances. The property, situated on a lot of 0.0826 acres, has a property size of 3248 square feet. Conveniently located near Cherry Hill, Collingswood, and Philadelphia, the property benefits from visibility, accessibility, and proximity to shopping, dining, and major commuter routes. It is zoned B-1 and is suitable for owner-operators, mixed-use investors, or those seeking residential and commercial income potential.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $455.5K
    NOI $40,998 @ 9.00% cap · cautious / downside scenario
    Moderate
    $585.7K
    NOI $40,998 @ 7.00% cap · market / base-case scenario
    Aggressive
    $820.0K
    NOI $40,998 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    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 Use Scenarios

    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 local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merchantville
    County
    Camden
    State
    New Jersey
    Longitude
    -75.0501
    Latitude
    39.95

    Nearby Similar for Sale

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      22 CENTRE, MERCHANTVILLE, NJ 08109
      View Details
    • Contact for pricing
      9,204 SF

      Retail Property on Maple Avenue

      Freestanding retail property with high visibility in a dense market.
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      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile mixed-use property in Merchantville's downtown district.
    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 (restaurant‑ready) 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.**
    (732) 549-1998
    We can help!
    Listing Contact
    Yi Shang
    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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