Building Details

Year Built 1998

Listing Agency: Keller Williams Realty - Washington Township Show Phone

Listed By: Pelligrino Stellato · License #2081809 Show Phone

Source: Cummingsrealtors

Added: Oct 20 Changed: Oct 25 Last Checked: Oct 24 at 6:57PM

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Investment Insights

Based on property information with market context.

This approximately 10,000-square-foot property combines a produce, grocery, and deli operation with the real estate. The business has operated at this location for more than 30 years. Existing features include a large produce display case, updated furnishings, digital menu boards, and POS and online-ordering readiness. The building dates to 1998, and the business and property are being offered together.

The site is on the Black Horse Pike commercial corridor in Egg Harbor Township, New Jersey. The operation is absentee-owned.

Key Highlights

• Approximately 10,000 square feet; built in 1998
• Produce, grocery, and deli business operating at this location for over 30 years
• Business and real estate offered together

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$154,710

Cap Rate

5.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,094,200 $3.1M

Cap Rate 7%

$2,210,143 $2.2M

Cap Rate 9%

$1,719,000 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,000 SF

Gross rent

$216.0K $21.60/SF

− Vacancy

−$9.7K −$0.97/SF

EGI

$206.3K $20.63/SF

− OpEx

−$51.6K −$5.16/SF

NOI

$154.7K $15.47/SF

Area

Atlantic County, NJ

Vacancy

4.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,094,200

Cap Rate 7%

$2,210,143

Cap Rate 9%

$1,719,000

Alternative Uses

Best Use

Specialty Retail

$2.21M

$1.93M – $2.58M (±1% cap)

NOI $154,710 @ 7.0% cap · market cap 5.73%

Second Best

Retail

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $96,075 @ 7.0% cap · market cap 3.56%

Theoretical Best

Warehouse

$3.72M

$3.26M – $4.34M (±1% cap)

NOI $260,675 @ 7.0% cap · market cap 9.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

M&S Produce Outlet Food Market

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Electrical Service HVAC Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

558

Businesses Nearby

146k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 42% Home Improvements & Furnishings 34% Shops & Services 24% Dining 1%

ShopRite Groceries

61,764 visits/mo 0.5 miles

The Home Depot Home Improvements & Furnishings

44,817 visits/mo 0.1 miles

Dollar Tree Shops & Services

17,209 visits/mo 0.3 miles

Ollie's Bargain Outlet Shops & Services

8,874 visits/mo 0.3 miles

Sunoco Shops & Services

6,018 visits/mo 0.1 miles

Demographics for 08234, NJ

46,906

Population

17,728

Households

2.6

Avg Household Size

42

Median Age

35%

College-Educated

92%

High-School Grad

60.7 sq mi

ZIP Area

773

Density / Sq Mi

$96,604

Median Household Income

$46,070

Median Earnings

$1,466

Median Rent

$285,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - The property includes an established food-retail operation with produce, grocery, and deli offerings.

Where is this grocery and convenience store located?

The property is located at 6020 BLACK HORSE PIKE Egg Harbor Twp, NJ.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: Approximately 10,000 square feet; built in 1998; Produce, grocery, and deli business operating at this location for over 30 years; Business and real estate offered together