Millville Commercial Opportunity For
For Sale
Contact for pricing
427 Buck Street, Millville, NJ 08332
Commercial building with overhead door, suitable for auto business.
Property Size2,000 SF
Price / SF$125
Days on Market182
Property Features for 427 Buck Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Building Details
Year Built
1964
Listing Agency:
Coldwell Banker Argus Real Estate
(609) 822-3700
Listed By:
Matt Bonomini · License #NJ 2321153
Source:
Crexi
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 11 at 5:28PM
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 Coldwell Banker Argus Real Estate
Investment Insights
Based on property information with market context.
This commercial property, approximately 2000 square feet, is located in Millville, New Jersey. It features an overhead door, making it suitable for an auto business, supply house, workshop, or storage. The property also includes space for an office or retail area facing the street. An additional lot is located at 9 E Oak Street, behind the main property, offering opportunities for outside use. Since 2023, the building has undergone renovations, including a new roof, renovated interior, a new garage door opener, windows, and doors. The property at 501 Buck Street, across the street, is also available for sale and has been renovated. The properties can be purchased together or separately. The location is within the Urban Enterprise Zone.
Key Highlights
- Prime commercial location in the heart of Millville, NJ.
- Approximately 2000SF building suitable for various businesses.
- Includes an overhead door for easy access and functionality.
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
$14,030
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
5.61%
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%
$280,600
$280.6K
Cap Rate 7%
$200,429
$200.4K
Cap Rate 9%
$155,889
$155.9K
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
$18.0K $9.00/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$16.5K $8.25/SF
− OpEx
−$2.5K −$1.24/SF
NOI
$14.0K $7.02/SF
Area
Cumberland County, NJ
Vacancy
8.30%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$280,600
Cap Rate 7%
$200,429
Cap Rate 9%
$155,889
Alternative Uses
Best Use
Retail
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 9.66%
Second Best
Warehouse
$200.4K
$175.4K – $233.8K
NOI $14,030 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$3.00M
$2.63M – $3.50M
NOI $210,211 @ 7.0% cap · market cap 84.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- BIG BOY TRAILERS — 623 E Main St, Millville, NJ 08332
- Tomlin Brothers Autobody — 2 E Oak St, Millville, NJ 08332
- Wayne's Garage — 210 n 9th st, millville, nj 08332
- BLC Automotive Services Center — 715 E Main St, Millville, NJ 08332
- Magnetic Auto Shop — 117 s 6th st, millville, nj 08332
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with overhead door, suitable for auto business.
Where is this auto shop located?
The property is located at 427 Buck Street Millville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Prime commercial location in the heart of Millville, NJ.; Approximately 2000SF building suitable for various businesses.; Includes an overhead door for easy access and functionality.
