Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    535 Delsea Drive Franklin, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    New retail shopping center at Route 55 and Route 40.

    Type:RETAIL
    Property size:
    1,080 SF
    Lot size:
    2.96 Acres
    Added:
    Jul 3, 2024
    Days on Market:
    662
    Last Refresh:
    Apr 5 at 9:30 pm

    Property Features for 535 Delsea Drive

    General Information

    Standard status
    Active
    Size
    1,080 SF
    Lot size
    2.96 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 535 Delsea Drive Contact us

    We can help!

    Listing Contact
    Vincent
    Vincent "Vince" Ceroli

    Listing agent Vincent "Vince" Ceroli

    Listing office Vantage Commercial

    Listing date Jul 3, 2024

    Source Moodyscre

    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 Vantage Commercial

    Overview

    Retail Space in Growing Area

    This new retail shopping center is located at the intersection of Route 55 and Route 40 on Delsea Drive (Route 47). The location is near a prominent intersection with a Wawa, CVS, and diners, and serves as a truck route between Vineland and Salem City. The surrounding areas of Franklinville, Malaga, and Newfield are experiencing growth in residential and industrial developments. This region of Gloucester County serves South Jersey’s industrial market and commuter traffic on Route 55. The property offers 1080 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Matthews Plaza — 344 Delsea Dr, Malaga, NJ 08328

    Map

    City
    Franklin
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.5804
    Latitude
    41.122

    Nearby Similar for Lease

    • $2,100/Mo

      Franklin Boro Commercial Space Available

      Highly visible commercial space suitable for various business types.
      165 State Rt 23, Franklin Boro, NJ 07416-2000
      View Details
    • $3,800/Mo

      Versatile Commercial Building for Lease

      3,328 SF commercial building with flexible HC-2 zoning.
      137 S Rutherford Ave, Franklin, NJ 07416-2015
      View Details
    • $875/Mo

      Renovated Office Suites on Route 23

      Furnished, renovated office suites with utilities included on Route 23.
      385 state ROUTE 23, Franklin Boro, NJ 07416-2125
      View Details
    • $1,650/Mo

      Office Space Ready For Rent

      Built to suit office space available for new tenants.
      12 Cork Hill Rd, Franklin Boro, NJ 07416
      View Details
    • $1,650/Mo

      Office Space in Franklin Boro

      Built-to-suit office space with multiple offices and amenities.
      12 Cork Hill Rd, Franklin Boro, NJ 07416-1302
      View Details
    • $12 SF/Yr

      Historic Building One-Bedroom Apartment

      One-bedroom apartment in a historic building with updated features.
      35 Main St, Franklin, NJ 07416-1420
      View Details
    • $2,250/Mo

      Mixed-Use Property with Income Potential

      Commercial space with garages and apartments for income in Franklin.
      384 RUTHERFORD AVE, Franklin Boro, NJ 07416-1571
      View Details
    • $1,000/Mo

      Garage with Electric and Parking

      Commercial garage space available for rent in Franklin Boro.
      384 Rutherford Ave, Franklin Boro, NJ 07416-1535
      View Details
    • $1,000/Mo

      Private Garage in Franklin Boro

      Commercial garage space available for rent in Franklin Boro.
      384 RUTHERFORD AVE, Franklin Boro, NJ 07416-1535
      View Details

    FAQs

    What type of property is this?
    Shopping center - New retail shopping center at Route 55 and Route 40.
    Where is this shopping center located?
    The property is located at 535 Delsea Drive Franklin, NJ.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: New retail shopping center at the intersection of Route 55 and Route 40 on Delsea Drive (Route 47).; Located on a truck route between Vineland and Salem City.; Close proximity to Wawa, CVS, and diners.
    (856) 797-1919 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vincent
    Vincent "Vince" Ceroli
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!