Commercial Property on Route
For Sale
$284,500
Pending
353 Route 70, Medford, NJ 08055
Commercial property with high visibility and flexible business uses.
Property Size2,080 SF
Lot Size0.69 Acres
Days on Market1197
Property Features for 353 Route 70
General Information
Standard status
Pending
Size
2,080 SF
Lot size
0.69 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,024
Amenities
Corner
Highway
Irregular
Level
Not In Development
Partly Wooded
Road Frontage
Rural
SideYard(s)
Trees/Wooded
Building Details
Year Built
1960
Listing Agency:
KELLER WILLIAMS REALTY - MARLTON
(856) 441-6800
Listed By:
JAMES L MOFFA · License #901791
Source:
Corcoran
Added: May 1, 2023
Changed: Aug 8
Last Checked: Aug 8 at 5:34AM
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 KELLER WILLIAMS REALTY - MARLTON
Investment Insights
Based on property information with market context.
This commercial property is located on Route 70 in Medford, New Jersey, at a lighted intersection. The property's location provides flexibility for various business uses, including retail, professional offices, day care, boutiques, antiques, gift specialty shops, crafts, and office/warehouse space. The building is currently configured with a reception area (14'x11'), administration offices/file storage (8'x23'), a restroom (8'x5'), a front office (12'x14'), an open dental area with four stations (21'x23'), a lab area with two sections (6'x8' and 6'x6'), and a hallway (13'x3'). The property is adaptable to orthodontic, periodontal, or other medical practices. The traffic volume ranges from 25,000 to 45,000 vehicles per day. The property has two driveways for ingress and egress. The building was originally a historical church and was later converted to dental offices. It is currently used as a dental office with a tenant on a month-to-month lease. Upgrades include HVAC, newer duct work, furnishings, and a security system. The roof is approximately 12 years old. There is a shed on the property. The property has a septic system and a private well and is being sold "AS IS." The property is located near fast food and local restaurants, first-class medical facilities, and the Route 73 corridor. It is accessible by I-295, Routes 38, 206, 73, 70, the PA/NJ Turnpikes, and the Atlantic City Expressway. It is also near the Promenade Shopping Center, Cherry Hill/Moorestown Malls, the Market Place at Garden State, and Centerton Square. The property includes 1280 square feet for retail and 800 square feet for warehouse/work area.
Key Highlights
- Strategic location on Route 70 at a lighted intersection with high traffic volume offering fantastic exposure.
- Flexible zoning allowing for various business uses.
- Upgraded HVAC, newer duct work, furnishings, and security system.
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
$18,660
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
6.56%
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%
$373,200
$373.2K
Cap Rate 7%
$266,571
$266.6K
Cap Rate 9%
$207,333
$207.3K
Market Conditions
NOI Build-Up for 2,080 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
$28.0K $13.44/SF
− Vacancy
−$3.1K −$1.48/SF
EGI
$24.9K $11.96/SF
− OpEx
−$6.2K −$2.99/SF
NOI
$18.7K $8.97/SF
Area
Burlington County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /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%
$373,200
Cap Rate 7%
$266,571
Cap Rate 9%
$207,333
Alternative Uses
Best Use
Warehouse
$4.35M
$3.81M – $5.08M
NOI $304,520 @ 7.0% cap · market cap 107.04%
Second Best
Industrial
$3.58M
$3.13M – $4.18M
NOI $250,781 @ 7.0% cap · market cap 88.15%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08055, NJ
28,806
Population
11,103
Households
2.6
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
40.0 sq mi
ZIP Area
720
Density / Sq Mi
$158,487
Median Household Income
$77,304
Median Earnings
$1,502
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Medical Office Space - Commercial property with high visibility and flexible business uses.
Where is this medical office space located?
The property is located at 353 Route 70 Medford, NJ.
What is the asking price?
The asking price for this property is $284,500.
What are key features of this property?
This property features: Strategic location on Route 70 at a lighted intersection with high traffic volume offering fantastic exposure.; Flexible zoning allowing for various business uses.; Upgraded HVAC, newer duct work, furnishings, and security system.
