Mixed-Use Property with Boarding
59 S BROADWAY, Pitman, NJ 08071
For Sale
New
$1,750,000
Two street frontages frame commercial space, an apartment, and a second-floor boarding house.
Property Size10,400 SF
Price / SF$168.27
Days on Market4
Property Features for 59 S BROADWAY
General Information
Standard status
Size
Property subtype
Site & Location
Corner Location
Road Access
Mixed-Use Components
Tenancy & Operations
Currently Operating
Tenant in Place
Amenities
private parking lot
Building Details
Year Built
Tenancy
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Thomas J. Copsetta Jr. · License #1222745
(856) 625-7193
Source:
Cummingsrealtors
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:15AM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 10,400 square feet, with two commercial units spanning the ground floor and walk-out lower level. The residential component includes a manager’s apartment and a 14-room boarding house on the second floor. Both commercial spaces are occupied under long-term leases; the apartment has a long-term tenant, while the boarding rooms include both occupied and available rooms. Existing tenant leases are to be honored by the purchaser.
At the corner of South Broadway and Pitman Avenue in Uptown Pitman, the property has frontage on both streets. A small private parking area is accessed from Pitman Avenue. Restaurants, boutiques, entertainment venues, and other local businesses are within walking distance.
At the corner of South Broadway and Pitman Avenue in Uptown Pitman, the property has frontage on both streets. A small private parking area is accessed from Pitman Avenue. Restaurants, boutiques, entertainment venues, and other local businesses are within walking distance.
Key Highlights
- Approximately 10,400 square feet of mixed‑use space
- Two commercial units across the ground floor and walk‑out lower level
- Second‑floor boarding house with 14 rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,725
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,354,500
$2.4M
Cap Rate 7%
$1,681,786
$1.7M
Cap Rate 9%
$1,308,056
$1.3M
Market Conditions
NOI Build-Up for 10,400 SF
Gross rent
$177.2K $17.04/SF
− Vacancy
−$9.0K −$0.87/SF
EGI
$168.2K $16.17/SF
− OpEx
−$50.5K −$4.85/SF
NOI
$117.7K $11.32/SF
Area
Gloucester County, NJ
Vacancy
5.10%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,354,500
Cap Rate 7%
$1,681,786
Cap Rate 9%
$1,308,056
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,725 @ 7.0% cap · market cap 6.73%
Second Best
Mixed Use
$1.64M
$1.44M – $1.91M
NOI $114,816 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,710 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
634
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
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
3,238 visits/mo
0.0 miles
Fulton Bank
Shops & Services
1,865 visits/mo
0.1 miles
Fulton Bank
Shops & Services
1,685 visits/mo
0.2 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two street frontages frame commercial space, an apartment, and a second-floor boarding house.
Where is this mixed-use property located?
The property is located at 59 S BROADWAY Pitman, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 10,400 square feet of mixed‑use space; Two commercial units across the ground floor and walk‑out lower level; Second‑floor boarding house with 14 rooms
