Building Details

Year Built 1920

Buildings 1

Tenancy Multi

Listing Agency: Keller Williams Realty - Margate k***@kw.com Show Phone

Listed By: Nicholas M Brennan · License #2445553 Show Phone

Source: Cummingsrealtors

Added: Jul 31 Changed: Nov 3 Last Checked: Nov 3 at 6:47AM

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Investment Insights

Based on property information with market context.

Located at 35-37 S Broadway in Pitman, New Jersey, this 4,816-square-foot mixed-use building contains three occupied units: a commercial space and two residential units. The property was built in 1920 and combines street-level commercial utility with residential income-producing space.

Recent capital work includes a complete electrical rewire, new plumbing, mini-split systems in the commercial area, fresh paint, and new flooring in the commercial space and one residential unit. The asset reports a cap rate over 7.5% and is positioned on South Broadway in Pitman’s downtown area.

Key Highlights

• Three‑unit mixed‑use building with one commercial space and two residential units
• 4,816 SF building on South Broadway in Pitman, NJ
• Fully occupied property with reported cap rate over 7.5%

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,291

Cap Rate

6.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,125,820 $1.1M

Cap Rate 7%

$804,157 $804.2K

Cap Rate 9%

$625,456 $625.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,816 SF

Gross rent

$108.6K $22.56/SF

− Vacancy

−$6.3K −$1.31/SF

EGI

$102.3K $21.25/SF

− OpEx

−$46.1K −$9.56/SF

NOI

$56.3K $11.69/SF

Area

Gloucester County, NJ

Vacancy

5.80%

Lease Rate

$22.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,125,820

Cap Rate 7%

$804,157

Cap Rate 9%

$625,456

Alternative Uses

Best Use

Apartment 5plus

$804.2K

$703.6K – $938.2K (±1% cap)

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

Second Best

Retail

$778.8K

$681.5K – $908.6K (±1% cap)

NOI $54,516 @ 7.0% cap · market cap 6.06%

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

APC Flooring General Contractor QWS Chimney Sweep ... Hardware & Home Improvement Smoke-Stack & Chimney Cleaning ... Building Supply Maggie Paige Boutique Clothing & Fashion Store Studio Photography Service

Suggested Use

Top Pick Law Firm Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store Furniture & Home Goods 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.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

608

Businesses Nearby

12k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 72% Home Improvements & Furnishings 28%

7-Eleven Shops & Services

4,750 visits/mo 0.2 miles

Sherwin-Williams Paint Store Home Improvements & Furnishings

3,238 visits/mo 0.2 miles

Fulton Bank Shops & Services

1,865 visits/mo 0.1 miles

Fulton Bank Shops & Services

1,685 visits/mo 0.3 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully occupied property combining a commercial component with two residential units along South Broadway in Pitman.

Where is this mixed-use property located?

The property is located at 35 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: Three‑unit mixed‑use building with one commercial space and two residential units; 4,816 SF building on South Broadway in Pitman, NJ; Fully occupied property with reported cap rate over 7.5%