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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    199 Woodbury Rd Pitman, NJ 08071-1275

    • Commercial real estate
    • 6,864 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0771316
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Kowalski Richard T DDS / Orthodontist
    • Monarch Surveying & Engineering / Land Surveyor
    • FCX Performance / Industrial Equipment Supplier
    • Comfort Keepers of Pitman, NJ / Senior Citizen Center / Home Health Care Service
    • Heather L. Altman, LPC / Doctor

    Property Details for 199 Woodbury Rd

    Year built
    1972
    Construction
    BRICK
    Lot size
    0.57 lot acres
    Property size
    6,864 SF
    Zone code
    TRO
    Property type
    Commercial real estate
    APN
    15 00141-0000-00010
    APU
    1500141000000010

    Description

    This exceptional office property, located at 199 North Woodbury Road in Pitman, New Jersey, offers a fantastic opportunity for businesses seeking versatile and well-situated space. The building, constructed in 1972, boasts a total of 6,685 square feet situated on a 0.57-acre lot. Currently configured for multiple tenants, this presents a unique chance to lease a portion of the building or potentially the entire space. One immediately available suite measures 553 square feet, ideal for a smaller professional practice or office. The building's classification as a "Professional" office suggests a high-quality build and suitable environment for businesses requiring a polished and professional image. The property is conveniently located in Pitman, Gloucester County, New Jersey, offering easy access to major roadways and local amenities. The zip code is 08071. This is an excellent opportunity to establish or expand your business in a desirable and well-established location. The property's size and layout offer flexibility for a variety of business needs. Serious inquiries are encouraged to explore this promising commercial real estate opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $631,000
      Market price range: $594k - $1.02M
      AI Estimate
      $635,000
      Market price range: $542k - $1.01M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $745,000
      Current use
      OFFICE BUILDING
      $895,000
      Change: +20% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pitman
    County
    Gloucester
    State
    New Jersey
    Longitude
    -75.1229
    Latitude
    39.7401
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $16,123
    $124,600
    $368,900
    $493,500
    -
    $124,600
    $368,900
    $493,500

    Comparable in this City

    • Value Estimation by Request
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      COMMERCIAL (GENERAL) • 2,333 SF
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    • Value Estimation by Request
      1.70 Acres

      70-72 Holly Ave

      COMMERCIAL (GENERAL) • 1.70 Acres
      70-72 Holly Ave, Pitman, NJ 08071
      View Details
    • Value Estimation by Request
      0.07 Acres

      16 Broadway

      COMMERCIAL (GENERAL) • 0.07 Acres
      16 Broadway, Pitman, NJ 08071-1434
      View Details
    • Value Estimation by Request
      0.42 Acres

      124 Broadway

      COMMERCIAL (GENERAL) • 0.42 Acres
      124 Broadway, Pitman, NJ 08071-1035
      View Details
    • Value Estimation by Request
      0.07 Acres

      20 Broadway

      COMMERCIAL (GENERAL) • 0.07 Acres
      20 Broadway, Pitman, NJ 08071-1434
      View Details
    • Value Estimation by Request
      0.03 Acres

      50 Broadway

      COMMERCIAL (GENERAL) • 0.03 Acres
      50 Broadway, Pitman, NJ 08071-1443
      View Details

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    199 Woodbury Rd
    Pitman, NJ 08071-1275
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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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