5201 Nj-38 Pennsauken Township, NJ 08109
- Lifestyle centers
- 44,490 SF
- 4.40 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 5201 Nj-38
- Year built
- 2008
- Lot size
- 4.40 lot acres
- Property size
- 44,490 SF
- Property type
- Lifestyle centers
- Property subtype
- Power 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pennsauken Township
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0656
- Latitude
- 39.9354
