5201 Nj-38Pennsauken Township, NJ 08109

Property Details for 5201 Nj-38

Year built

2008

Lot size

4.40 AC

Property size (Sq ft)

44,490 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Saigon Plaza, a 44,490 square foot multi-tenant retail center in Pennsauken Township, New Jersey, presents a compelling investment opportunity. This stabilized, 100% occupied property boasts 11 tenants, including a grocery anchor, Sun Seng Supermarket, which has operated successfully at this location for over 13 years with a remaining lease term of 7 years. The property features 225 parking spaces, recently upgraded with a $150,000 investment in striping, sealing, and painting. Further capital improvements include approximately $110,000 invested in roof and façade maintenance. Situated on a 4.4-acre lot at 5201 NJ-38, this center benefits from exceptional visibility and high traffic counts exceeding 47,000 vehicles per day, strategically positioned on Route 38 (westbound toward Philadelphia). The property also includes a prominent billboard. The asking price is $11,000,000, representing a price per square foot of $247.25 and a 7.15% cap rate, with a Net Operating Income (NOI) of $786,985. Built in 2008, Saigon Plaza is conveniently located just 7 miles from Philadelphia and near Cherry Hill, offering excellent access to a large consumer base. This well-maintained property provides a strong, stable income stream with significant upside potential. The property consists of 10 units.

Location Insight

City

Pennsauken Township

County

Camden

State

New Jersey

Latitude

39.9354

Longitude

-75.0656

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