Corner Storefront
For Sale
$450,000
31 31-33 Centre, Merchantville, NJ 08109
B1-zoned commercial space with open interior volume and basement storage in Merchantville’s business district.
Property Size2,400 SF
Price / SF$187.50
Days on Market12
Property Features for 31 31-33 Centre
General Information
Standard status
Active
Size
2,400 SF
Zoning
B1
Additional Details
Business Included
Yes
Corner Location
Yes
Amenities
12-foot high ceilings
basement for storage
Building Details
Year Built
1925
Listing Agency:
Realty Mark Advantage
(856) 912-2777
Listed By:
Jukab Seo · License #564074
Source:
Soldbypattie
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 12:10PM
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 Realty Mark Advantage
Investment Insights
Based on property information with market context.
This 2,400-square-foot storefront property dates to 1925 and occupies a corner lot in Merchantville’s business district. The interior offers 12-foot ceilings and a basement that provides additional storage. The property is currently operated as a dry-cleaning business, with existing equipment remaining for a buyer who continues that use; removal would be the buyer’s responsibility for a different operation.
B1 zoning supports several stated business uses, including a bar, convenience store, dry cleaner, laundromat, food market, and office. The corner setting has both pedestrian and vehicle activity, providing exposure within the commercial district.
B1 zoning supports several stated business uses, including a bar, convenience store, dry cleaner, laundromat, food market, and office. The corner setting has both pedestrian and vehicle activity, providing exposure within the commercial district.
Key Highlights
- 2,400 SF storefront property on a corner lot
- B1 zoning supports bar, convenience store, dry cleaner, laundromat, food market, and office uses
- 12‑foot interior ceilings
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
$23,108
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
5.14%
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%
$462,160
$462.2K
Cap Rate 7%
$330,114
$330.1K
Cap Rate 9%
$256,756
$256.8K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$3.0K −$1.25/SF
EGI
$33.0K $13.76/SF
− OpEx
−$9.9K −$4.13/SF
NOI
$23.1K $9.63/SF
Area
Camden County, NJ
Vacancy
8.30%
Lease Rate
$15.00 /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%
$462,160
Cap Rate 7%
$330,114
Cap Rate 9%
$256,756
Alternative Uses
Best Use
Retail
$330.1K
$288.9K – $385.1K
NOI $23,108 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.5K
$532.5K – $710.0K
NOI $42,597 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Under-served
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - B1-zoned commercial space with open interior volume and basement storage in Merchantville’s business district.
Where is this storefront property located?
The property is located at 31 31-33 Centre Merchantville, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,400 SF storefront property on a corner lot; B1 zoning supports bar, convenience store, dry cleaner, laundromat, food market, and office uses; 12‑foot interior ceilings
