Flex Space with Overhead
For Sale
$250,000
427 Buck Street, Millville, NJ 08332
COMMERCIAL/INDUSTRIAL, Millville, NJ
Property Size2,000 SF
Price / SF$125
Days on Market193
Property Features for 427 Buck Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DC
Directions
Corner of Buck St and E Oak St
Subdivision
Millville City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3590
Amenities
overhead door
office/retail space
Building Details
Number of units
1
Listing Agency:
COLDWELL BANKER ARGUS REAL ESTATE-Ventnor · Coldwell Banker Real Estate
(609) 822-3700
Listed By:
Matthew Bonomini · License #2321153
(631) 398-3519
Added: Feb 9
Changed: Aug 19
Last Checked: Aug 21 at 8:06AM
MLS# 604539
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Flex space at 427 Buck Street in Millville, NJ includes an overhead door suited for auto business use, supply sales, workshops, and storage. The layout also allows room for an office or retail on the street. The building is approximately 2,000 SF.
An additional lot at 9 E Oak Street is located to the rear of the property, providing opportunity for outside use. Since 2023, improvements include a new roof, renovated interior, a new garage door opener, new windows, and new doors. The property is in the Urban Enterprise Zone.
The property across the street at 501 Buck St is also available for sale, and properties can be sold together or separate.
An additional lot at 9 E Oak Street is located to the rear of the property, providing opportunity for outside use. Since 2023, improvements include a new roof, renovated interior, a new garage door opener, new windows, and new doors. The property is in the Urban Enterprise Zone.
The property across the street at 501 Buck St is also available for sale, and properties can be sold together or separate.
Key Highlights
- Flex space building of approx 2,000 SF
- Overhead door supports auto business, workshop, and storage use
- Room for an office or retail on the street
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
$21,411
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
8.56%
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%
$428,220
$428.2K
Cap Rate 7%
$305,871
$305.9K
Cap Rate 9%
$237,900
$237.9K
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
$36.0K $18.00/SF
− Vacancy
−$3.1K −$1.53/SF
EGI
$32.9K $16.47/SF
− OpEx
−$11.5K −$5.76/SF
NOI
$21.4K $10.71/SF
Area
Cumberland County, NJ
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$428,220
Cap Rate 7%
$305,871
Cap Rate 9%
$237,900
Alternative Uses
Best Use
Retail
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 9.66%
Second Best
Flex RnD
$305.9K
$267.6K – $356.9K
NOI $21,411 @ 7.0% cap · market cap 8.56%
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
819
Businesses Nearby
Under-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
- Bolt Catering & Meal Prep — 706 N 8th St, Millville, NJ 08332
Frequently Asked Questions
What type of property is this?
Flex space - Flex space in DC zoning with an overhead door and recently renovated interior for auto, workshop, or storage use.
Where is this flex space 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: Flex space building of approx 2,000 SF; Overhead door supports auto business, workshop, and storage use; Room for an office or retail on the street
