Strip Mall with Four Retail
For Sale
$1,434,000
3470 Delsea Drive, Vineland, NJ 08360
Four retail units in a strip mall with recent roof and parking upgrades, plus a small house at the rear.
Property Size5,500 SF
Price / SF$260.73
Days on Market71
Property Features for 3470 Delsea Drive
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$24,046
Amenities
Central Air
3
Composition Shingle
B-4
Parking. Corner Lot.
Driveway, Lot.
Level
Side Yard, Landscaped. Close To Shops, Other, Downtown, Corner, State Road, Open, Level.
Building Details
Year Built
1960
Listing Agency:
Weichert Realtors-Haddonfield
(856) 716-3469
Listed By:
PATRICIA LANZILOTTA
(856) 716-3469
Source:
Xome
Added: Jun 2
Changed: Aug 8
Last Checked: Aug 11 at 4:42AM
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 Weichert Realtors-Haddonfield
Investment Insights
Based on property information with market context.
This strip mall offers a total rental space of 5,500 sq ft and includes four retail units. The current tenant mix noted in the remarks includes a salon, a vapor shop, and a water ice stand. Recent improvements include a brand-new roof installed in 2020 and modern HVAC systems in two of the stores. The parking area was revitalized with fresh blacktop and newly lined spaces in 2023.
The property is located at 3470 S Delsea Drive in Vineland, NJ, positioned on the corner of S Delsea Drive and College Avenue, just moments away from the Cumberland County Mall.
For investors and owner-operators, the property is being marketed with 100% occupancy and four active retail tenancies. The listing also notes a small residential house at the back of the property that is ready for rejuvenation, with a stated rental potential of $1,200 per month through a year. Additional lease and expense details, including security deposits, rent escalations, and lease terms, are described as being documented for buyer review. Contact the listing agent for the comprehensive lease specifics and expense breakdowns.
The property is located at 3470 S Delsea Drive in Vineland, NJ, positioned on the corner of S Delsea Drive and College Avenue, just moments away from the Cumberland County Mall.
For investors and owner-operators, the property is being marketed with 100% occupancy and four active retail tenancies. The listing also notes a small residential house at the back of the property that is ready for rejuvenation, with a stated rental potential of $1,200 per month through a year. Additional lease and expense details, including security deposits, rent escalations, and lease terms, are described as being documented for buyer review. Contact the listing agent for the comprehensive lease specifics and expense breakdowns.
Key Highlights
- 4‑unit retail strip mall with 5,500 sq ft of rental space and 100% occupancy
- Tenants include a salon, a vapor shop, and a water ice stand (within the four retail units)
- Corner lot on S Delsea Drive at College Avenue, just moments from Cumberland County Mall
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
$66,389
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
4.63%
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%
$1,327,780
$1.3M
Cap Rate 7%
$948,414
$948.4K
Cap Rate 9%
$737,656
$737.7K
Market Conditions
NOI Build-Up for 5,500 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
$99.0K $18.00/SF
− Vacancy
−$4.2K −$0.76/SF
EGI
$94.8K $17.24/SF
− OpEx
−$28.5K −$5.17/SF
NOI
$66.4K $12.07/SF
Area
Cumberland County, NJ
Vacancy
4.20%
Lease Rate
$18.00 /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%
$1,327,780
Cap Rate 7%
$948,414
Cap Rate 9%
$737,656
Alternative Uses
Best Use
Retail
$948.4K
$829.9K – $1.11M
NOI $66,389 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.26M
$7.23M – $9.63M
NOI $578,081 @ 7.0% cap · market cap 40.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
212k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Home Improvements & Furnishings 21%
Apparel 16%
Dining 13%
Michaels
Shops & Services
39,984 visits/mo
0.4 miles
Marshalls
Apparel
33,056 visits/mo
0.4 miles
Aldi
Groceries
25,190 visits/mo
0.5 miles
HomeGoods
Home Improvements & Furnishings
25,036 visits/mo
0.4 miles
Gabe's
Shops & Services
21,030 visits/mo
0.4 miles
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
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?
Strip mall - Four retail units in a strip mall with recent roof and parking upgrades, plus a small house at the rear.
Where is this strip mall located?
The property is located at 3470 Delsea Drive Vineland, NJ.
What is the asking price?
The asking price for this property is $1,434,000.
What are key features of this property?
This property features: 4‑unit retail strip mall with 5,500 sq ft of rental space and 100% occupancy; Tenants include a salon, a vapor shop, and a water ice stand (within the four retail units); Corner lot on S Delsea Drive at College Avenue, just moments from Cumberland County Mall
