Former Bank Building with
For Sale
$449,000
340 S White Horse Pike, Berlin, NJ 08009
Former banking facility with on-site parking and frontage along a major local roadway.
Property Size2,000 SF
Price / SF$224.50
Days on Market143
Property Features for 340 S White Horse Pike
General Information
Standard status
Active
Size
2,000 SF
Building Details
Year Built
1980
Listing Agency:
Penzone Realty
Listed By:
Joseph P Penzone · License #129912
Source:
Riverfoxrealty
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 6:54PM
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 Penzone Realty
Investment Insights
Based on property information with market context.
Former bank building at 340 S White Horse Pike in Berlin, New Jersey, offering approximately 1,717 square feet of interior space. The property sits on an approximately 0.69-acre lot and includes 17 parking spaces, providing an established configuration for a banking or other commercial use supported by the existing improvements.
The site fronts South White Horse Pike for 150 feet, giving the property a substantial presence along the roadway. Its address is 340 S White Horse Pike, Berlin, NJ 08009.
The site fronts South White Horse Pike for 150 feet, giving the property a substantial presence along the roadway. Its address is 340 S White Horse Pike, Berlin, NJ 08009.
Key Highlights
- Former bank building with 1,717+/- sf of interior space
- Approximately .69ac lot
- 17 parking spaces
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
$25,245
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
5.62%
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%
$504,900
$504.9K
Cap Rate 7%
$360,643
$360.6K
Cap Rate 9%
$280,500
$280.5K
Market Conditions
NOI Build-Up for 2,000 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 $18.00/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$33.7K $16.83/SF
− OpEx
−$8.4K −$4.21/SF
NOI
$25.2K $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 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%
$504,900
Cap Rate 7%
$360,643
Cap Rate 9%
$280,500
Alternative Uses
Best Use
Specialty Retail
$360.6K
$315.6K – $420.8K
NOI $25,245 @ 7.0% cap · market cap 5.62%
Second Best
Retail
$275.1K
$240.7K – $321.0K
NOI $19,257 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$507.1K
$443.7K – $591.6K
NOI $35,498 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
TD Bank
Shops & Services
8,485 visits/mo
0.5 miles
Dollar General
Shops & Services
5,876 visits/mo
0.2 miles
Prime Storage
Shops & Services
680 visits/mo
0.2 miles
Demographics for 08009, NJ
13,885
Population
5,764
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
16.5 sq mi
ZIP Area
842
Density / Sq Mi
$101,964
Median Household Income
$52,767
Median Earnings
$1,392
Median Rent
$291,500
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?
Bank - Former banking facility with on-site parking and frontage along a major local roadway.
Where is this bank located?
The property is located at 340 S White Horse Pike Berlin, NJ.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Former bank building with 1,717+/- sf of interior space; Approximately .69ac lot; 17 parking spaces
