Building Details

Year built 1966

Building materials Brick

Listing Agency: Realty Mark Advantage p***@msn.com Show Phone

Listed By: Jukab Seo · License #564074 Show Phone

Added: Apr 23 Changed: Sep 1 Last Checked: Sep 12 at 6:06PM

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MLS# NJCD2115936

Copyright © 2026 Bright 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.

This neighborhood shopping center contains a 13,000-square-foot brick retail building divided into seven units on approximately 1 acre. Built in 1966, the property has central air, forced-air heating, and a dedicated parking lot. All seven spaces are leased, with occupants including a laundromat, tobacco retailer, convenience store, Chinese restaurant, deli, Spanish grocery store, and Mexican restaurant.

The center is located in a densely populated residential area of Lindenwold, with another similarly sized shopping center positioned across Emerson Street. The surrounding retail activity and varied tenant lineup support a mix of daily-needs shopping, food service, and neighborhood services. The property is reported at an approximately 7% capitalization rate.

Key Highlights

• 13,000 SF retail building configured as 7 units
• Approximately 1 acre with a dedicated parking lot
• All 7 units are fully leased

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

$125,170

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

4.17%

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%

$2,503,400 $2.5M

Cap Rate 7%

$1,788,143 $1.8M

Cap Rate 9%

$1,390,778 $1.4M

Market Conditions

NOI Build-Up for 13,000 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

$195.0K $15.00/SF

− Vacancy

−$16.2K −$1.25/SF

EGI

$178.8K $13.76/SF

− OpEx

−$53.6K −$4.13/SF

NOI

$125.2K $9.63/SF

Area

Camden County, NJ

Vacancy

8.30%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

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%

$2,503,400

Cap Rate 7%

$1,788,143

Cap Rate 9%

$1,390,778

Alternative Uses

Best Use

Retail

$1.79M

$1.56M – $2.09M (±1% cap)

NOI $125,170 @ 7.0% cap · market cap 4.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.30M

$2.88M – $3.85M (±1% cap)

NOI $230,735 @ 7.0% cap · market cap 7.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Skin Care Clinic Computer & Electronic Repair (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

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

482

Businesses Nearby

72k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 55% Dining 42% Electronics 3%

Wawa Shops & Services

23,496 visits/mo 0.5 miles

McDonald's Dining

18,114 visits/mo 0.5 miles

Dunkin' Donuts Dining

6,831 visits/mo 0.5 miles

Family Dollar Shops & Services

6,011 visits/mo 0.1 miles

El Rodeo Dining

3,520 visits/mo 0.1 miles

Demographics for 08021, NJ

51,458

Population

22,195

Households

2.3

Avg Household Size

37

Median Age

25%

College-Educated

90%

High-School Grad

13.0 sq mi

ZIP Area

3,958

Density / Sq Mi

$67,439

Median Household Income

$42,864

Median Earnings

$1,288

Median Rent

$192,200

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

Questions? Ask Rey

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What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Shopping center - Seven occupied storefronts combine retail and service uses within a brick commercial property serving a residential trade area.

Where is this shopping center located?

The property is located at 782-798 EMERSON Street Lindenwold, NJ.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: 13,000 SF retail building configured as 7 units; Approximately 1 acre with a dedicated parking lot; All 7 units are fully leased