35-37 S Broadway, Pitman, NJ 08071

Building Details

Year Built 1920 More

Year Renovated 2025 More

Buildings 1 More

Units 3 More

Tenancy Multi More

Listing Agency: Keller Williams Jersey Shore

Listed By: Nick Brennan · License #2445553 Show Phone

Source: Crexi

Added: Jul 31 Changed: Oct 26 Last Checked: Nov 8 at 8:11AM

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Investment Insights

Based on property information with market context.

This 4,816-square-foot mixed-use property contains three occupied units, including commercial space and residential accommodations. Built in 1920 and zoned C-1, the building has undergone substantial updates, including electrical rewiring, plumbing work, new mini-split systems serving the commercial area, fresh paint, and flooring replacement in the commercial space and one residential unit.

The property is located at 35-37 S Broadway in Pitman, positioned along South Broadway within the downtown area. The asset produces a reported cap rate over 7.5% and combines established occupancy with completed capital improvements. Residential-unit photographs are available separately at tenant request.

Key Highlights

• 4,816 SF mixed‑use building with 3 occupied units
• C‑1 zoning supports the existing mixed‑use configuration
• Reported cap rate over 7.5%

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,279

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,265,580 $1.3M

Cap Rate 7%

$903,986 $904.0K

Cap Rate 9%

$703,100 $703.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,816 SF

Gross rent

$95.4K $19.80/SF

− Vacancy

−$5.0K −$1.03/SF

EGI

$90.4K $18.77/SF

− OpEx

−$27.1K −$5.63/SF

NOI

$63.3K $13.14/SF

Area

Gloucester County, NJ

Vacancy

5.20%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,265,580

Cap Rate 7%

$903,986

Cap Rate 9%

$703,100

Alternative Uses

Best Use

Multifamily LT 5

$904.0K

$791.0K – $1.05M (±1% cap)

NOI $63,279 @ 7.0% cap · market cap 7.03%

Second Best

Apartment 5plus

$804.2K

$703.6K – $938.2K (±1% cap)

NOI $56,291 @ 7.0% cap · market cap 6.25%

Theoretical Best

Office A

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,319 @ 7.0% cap · market cap 12.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store Nail Salon Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

608

Businesses Nearby

Explore this area Business Placement

Demographics for 08071, NJ

9,259

Population

3,984

Households

2.3

Avg Household Size

42

Median Age

45%

College-Educated

97%

High-School Grad

3.3 sq mi

ZIP Area

2,806

Density / Sq Mi

$97,222

Median Household Income

$51,243

Median Earnings

$1,488

Median Rent

$258,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-unit property combining commercial space with residential occupancy and recent building-system upgrades.

Where is this mixed-use property located?

The property is located at 35-37 S Broadway Pitman, NJ.

What is the asking price?

The asking price for this property is $899,999.

What are key features of this property?

This property features: 4,816 SF mixed‑use building with 3 occupied units; C‑1 zoning supports the existing mixed‑use configuration; Reported cap rate over 7.5%