Corner Retail Building with
For Sale
$450,000
3133 CENTRE, Merchantville, NJ 08109
Zoned B1 with 12-foot ceilings, basement storage, and a dry cleaning operation that can transfer as-is.
Property Size2,400 SF
Price / SF$187.50
Days on Market120
Property Features for 3133 CENTRE
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,061
Amenities
A/C - Other
3
Parking.
On Street.
Other, Central Business District.
Building Details
Year Built
1925
Listing Agency:
Realty Mark Advantage
(856) 912-2777
Listed By:
Jukab Seo · License #564074
(856) 912-2777
Source:
Xome
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 12 at 4:20AM
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 retail property for sale is located on a high-visibility corner lot in the Merchantville business district. The interior features 12-foot high ceilings and includes a basement for storage.
The property is zoned B1 and the current owner operates it as a dry cleaning business, with a preference to transfer the business as is. If a buyer plans to operate a different type of business, it will be the buyer’s responsibility to remove all existing equipment.
The listing includes the address of 31-33 S. Center St., Merchantville, NJ 08109.
The property is zoned B1 and the current owner operates it as a dry cleaning business, with a preference to transfer the business as is. If a buyer plans to operate a different type of business, it will be the buyer’s responsibility to remove all existing equipment.
The listing includes the address of 31-33 S. Center St., Merchantville, NJ 08109.
Key Highlights
- Zoned Commercial (B1) in the Central Business District on a corner lot with parking available
- 12‑foot high ceilings with an open interior layout for a variety of business uses
- Basement included for storage
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Zoned B1 with 12-foot ceilings, basement storage, and a dry cleaning operation that can transfer as-is.
Where is this retail space located?
The property is located at 3133 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: Zoned Commercial (B1) in the Central Business District on a corner lot with parking available; 12‑foot high ceilings with an open interior layout for a variety of business uses; Basement included for storage
