700 BroadwayPennsville Township, NJ 08070

Property Details for 700 Broadway

Construction

CONCRETE BLOCKS

Lot size

0.46 AC

Property size (Sq ft)

2,296 SF

Zone code

CM

Property type

Retail properties

Property subtype

Gas stations

APN

09 04201-0000-00001

APU

904201000000001

Description

This exceptional investment opportunity presents a Sunoco-branded gas station and convenience store in Pennsville Township, NJ. Located at 700 S Broadway, this single-story, 1,500-3,000 square foot building sits on a 30,000 square foot lot and includes ten gas pumps, three underground storage tanks (two 8,000-gallon and one 12,000-gallon, installed in 1994 and 2005), a convenience store with lottery and ATM services, and benefits from a high-traffic corner location with a traffic light. The property boasts a strong NOI of $253,000 and a compelling 13.25% cap rate. Built in 2005, this established business is strategically positioned near major retailers like Walmart and Dunkin' Donuts, capitalizing on high visibility and convenient access. The convenience store offers significant expansion potential, with opportunities to diversify product offerings and increase profitability. Further revenue streams could be generated by adding a Tesla charging station to cater to the growing EV market or by leasing space to a franchise. The property's proximity to a local NASCAR fan base provides a unique and dedicated customer segment. This is a value-add investment with a motivated seller, presenting a rare chance to acquire a thriving business in a prime location. The property's strong financials and potential for future growth make it an attractive proposition for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $1,442,432

  6.5%

  $1,331,476

  7%

  $1,236,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,227,041

  Geo Method

  $755,988

• Alternative Use

  Use

  Valuation

  Residential

  $1,123,149

  Hospitality

  $1,028,799

  Educational

  $855,949

  Medical

  $885,386

  Retail

  $1,331,476

Location Insight

City

Pennsville

County

Salem

State

New Jersey

Latitude

39.6143

Longitude

-75.5023

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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