Delaware River Waterfront
For Sale
$4,950,000
61 SAINT MIHIEL DRIVE, Delran, NJ 08075
LAND - DELRAN, NJ
Property Size17,300 SF
Lot Size7.70 Acres
Price / SF$286.13
Days on Market10
Property Features for 61 SAINT MIHIEL DRIVE
General Information
Property type
Land
Property subtype
Other
Standard status
Active
Lot size
7.70 Acres
Listing Agency:
BHHS Fox & Roach Marlton-Voorhees Home Marketing Center · Berkshire Hathaway HomeServices
(856) 810-5300
Listed By:
Dawn Varallo · License #1329291
(856) 381-7884
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 7 at 3:06AM
MLS# NJBL2116848
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
This waterfront land offering spans approximately 7.7 acres across five contiguous parcels in Delran, New Jersey. The site includes approximately 17,300 square feet of improvements: a 10,000-square-foot catering and banquet facility, a 2,000-square-foot office building, a 2,800-square-foot two-story residence, and a 2,500-square-foot warehouse. The catering venue operated for more than 25 years, and the property was formerly used as Clarks Landing Marina. Included riparian rights add to the site's existing waterfront features.
The property provides more than 1,000 feet of Delaware River frontage, approximately 1,200 feet of road frontage, and direct access to river views. Regional connections include Route 130, Route 73, I-295, the New Jersey Turnpike, and the Tacony-Palmyra Bridge, with access to Philadelphia and South Jersey employment and retail areas.
Future concepts identified for the property include condominiums, townhomes, mixed-use development, hospitality, marina-related amenities, or continued commercial use, subject to zoning and municipal approvals.
The property provides more than 1,000 feet of Delaware River frontage, approximately 1,200 feet of road frontage, and direct access to river views. Regional connections include Route 130, Route 73, I-295, the New Jersey Turnpike, and the Tacony-Palmyra Bridge, with access to Philadelphia and South Jersey employment and retail areas.
Future concepts identified for the property include condominiums, townhomes, mixed-use development, hospitality, marina-related amenities, or continued commercial use, subject to zoning and municipal approvals.
Key Highlights
- Approximately 7.7 acres across five contiguous parcels
- More than 1,000 feet of Delaware River frontage
- Approximately 1,200 feet of road frontage
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
$155,202
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
3.14%
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%
$3,104,040
$3.1M
Cap Rate 7%
$2,217,171
$2.2M
Cap Rate 9%
$1,724,467
$1.7M
Market Conditions
NOI Build-Up for 17,300 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
$232.5K $13.44/SF
− Vacancy
−$25.6K −$1.48/SF
EGI
$206.9K $11.96/SF
− OpEx
−$51.7K −$2.99/SF
NOI
$155.2K $8.97/SF
Area
Burlington County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
25.00%
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%
$3,104,040
Cap Rate 7%
$2,217,171
Cap Rate 9%
$1,724,467
Alternative Uses
Best Use
Warehouse
$36.18M
$31.66M – $42.21M
NOI $2,532,783 @ 7.0% cap · market cap 51.17%
Second Best
Office B
$2.22M
$1.94M – $2.59M
NOI $155,202 @ 7.0% cap · market cap 3.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Water rights
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Waterfront Land - Contiguous riverfront land includes banquet, office, residential, and warehouse improvements.
Where is this waterfront land located?
The property is located at 61 SAINT MIHIEL DRIVE Delran, NJ.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Approximately 7.7 acres across five contiguous parcels; More than 1,000 feet of Delaware River frontage; Approximately 1,200 feet of road frontage
