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    Pemberton Borough Investment Opportunity Title is generated by Realmo AI

    88-90 Hanover Street, Pemberton, NJ 08068

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    Claim this Listing
    For Sale
    Under Contract
    $375,000

    COMMERCIAL - Pemberton Bor, NJ

    Property size:
    6,000 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $62/SF
    Added:
    Apr 12, 2024
    Days on Market:
    770
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 88-90 Hanover Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    On Street
    Standard status
    Active Under Contract
    APN
    280040000019
    Size
    6,000 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    191900

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1787
    Floors in Building
    2
    Flooring type
    Concrete, Tile - Ceramic, Wood
    Building materials
    Brick, Vinyl Siding, Wood Siding
    Roof type
    Slate

    We can help!

    Listing Contact
    Samuel Punzi

    Listing agent Samuel Punzi License #1327494

    Listing office EXP REALTY, LLC 28 VALLEY RD SUITE 1, Montclair, NJ

    Listing date Apr 12, 2024

    MLS# 2410265R

    Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime investment opportunity with diverse income stream from five units (two commercial, three residential).
    • High‑visibility location in the heart of Pemberton Borough, ensuring strong foot traffic for commercial units.
    • Individual gas and electric meters for each unit, simplifying utility management.
    • Spacious ground‑level storage/maintenance area and basement.
    • Potential to convert two large attic/storage units into a sixth residential apartment.
    • Historic building (built in 1787) with a combination of brick, vinyl, and wood siding, plus a slate roof.

    Overview

    This five-unit investment property, blending historic charm with practical business features, is located in the heart of Pemberton Borough. The building offers a diverse income stream, with high visibility and foot traffic ensured by its convenient location. The property includes two commercial units and three residential units offering comfortable living spaces. A ground-level storage/maintenance area provides access to a basement with individual gas and electric meters for each unit. The property has a total size of 6000 square feet and is situated on a lot of 0.0535 acres. There are also two large attic/storage units. The property's zoning is commercial. An investor may consider converting the attic/storage units into a sixth residential apartment to capitalize on Pemberton Borough's growing market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm Daycare Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pemberton
    County
    Burlington
    State
    New Jersey
    Longitude
    -74.6828005
    Latitude
    39.9724997

    Nearby Similar for Sale

    • $389,900
      2,800 SF

      Commercial

      266 Pointville Rd, PEMBERTON, NJ 08068
      View Details
    • $849,000
      5,460 SF

      Historic Pemberton Farm Opportunity

      14-acre farm with development potential in Pemberton, New Jersey.
      141 Arneys Mount Rd, PEMBERTON, NJ 08068
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Five-unit investment property in Pemberton Borough with diverse income streams.
    Where is this mixed-use property located?
    The property is located at 88-90 Hanover Street Pemberton, NJ.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Prime investment opportunity with diverse income stream from five units (two commercial, three residential).; High‑visibility location in the heart of Pemberton Borough, ensuring strong foot traffic for commercial units.; Individual gas and electric meters for each unit, simplifying utility management.
    (866) 201-6210
    We can help!
    Listing Contact
    Samuel Punzi
    Real Estate License ID: 1327494
    Learn More
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    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
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