Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22 Driskill St Millville, NJ 08332-4807

    • Warehouses
    • 7,500 SF
    • 2.52 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1720425
    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

    • Crown Wire & Cable Co Inc / Water Works Equipment Supplier

    Property Details for 22 Driskill St

    Year built
    1989
    Lot size
    2.52 lot acres
    Property size
    7,500 SF
    Property type
    Warehouses
    APN
    10 00125- 01-00013- 02
    APU
    1000125010001302

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $875,000
      6.5%
      $810,000
      7%
      $750,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $730,000
      APARTMENT HOUSE (5+ UNITS)
      $670,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Millville
    County
    Cumberland
    State
    New Jersey
    Longitude
    -75.0675
    Latitude
    39.376
    CBSA code
    47220
    CBSA name
    VINELAND-MILLVILLE-BRIDGETON, NJ 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
    2023
    $24,325
    $77,600
    $547,400
    $625,000
    -
    $77,600
    $547,400
    $625,000

    Comparable in this City

    • Value Estimation by Request
      300,000 SF

      Millville Nj

      Life science properties • 300,000 SF
      0 Millville Nj, Millville, NJ 08332
      View Details
    • Value Estimation
      $7,085,000
      122,400 SF

      1501 10th St

      WAREHOUSE, STORAGE • 122,400 SF
      1501 10th St, Millville, NJ 08332-2038
      View Details
    • Value Estimation by Request
      5,096 SF

      25 6Th St

      Manufacturing properties • 5,096 SF
      25 6Th St, Millville, NJ 08332
      View Details
    • Value Estimation by Request
      297.34 Acres

      Weatherby Rd

      INDUSTRIAL (GENERAL) • 297.34 Acres
      Weatherby Rd, Millville, NJ 08332
      View Details
    • Value Estimation by Request
      2.11 Acres

      13 Driskill St

      INDUSTRIAL (GENERAL) • 2.11 Acres
      13 Driskill St, Millville, NJ 08332-4808
      View Details
    • Value Estimation by Request
      2,324 SF

      6 Espoma Rd

      INDUSTRIAL (GENERAL) • 2,324 SF
      6 Espoma Rd, Millville, NJ 08332-1456
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.14 Acres

      Millville Airport Office Space

      Modern Office Suite, Millville Airport
      234 Bogden Blvd, Millville, NJ 08332
      View Details
    • $600,000

      Scientific Glass Manufacturing Facility

      Fully equipped facility for scientific glassware manufacturing and OEM design.
      25 N 6Th St, Millville, NJ 08332
      View Details
    • Contact for pricing
      1.00 Acre

      Millville Industrial Land Opportunity

      Acre lot, prime location
      320 Morton Ave, Millville, NJ 08332
      View Details
    • $97,500
      2,715 SF

      Millville Industrial Property: Prime Location

      2,715 sq ft Industrial Building, Great Investment
      824 Columbia Ave, Millville, NJ 08332
      View Details
    • Contact for pricing
      1.21 Acres

      Versatile Land Parcel in Millville

      1.21-acre paved land with endless business possibilities in Millville, NJ.
      415 S 2Nd St S, Millville, NJ 08332
      View Details
    • $600,000
      5,096 SF

      Millville Manufacturing Facility

      NJ Industrial Building: $600K
      25 6Th St, Millville, NJ 08332
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,000 SF

      Industrial Space with Drive-In Doors

      44,000 SF industrial space featuring multiple loading options.
      20 Bogden Blvd, Millville, NJ 08332
      View Details
    • Contact for pricing
      53,994 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for rent with convenient access to ports.
      1401 Wheaton Ave, Millville, NJ 08332
      View Details
    • Contact for pricing
      5,400 SF

      Millville Warehouse with Freezer Unit

      5,400 SF warehouse with freezer, office, and truck stalls.
      1900 S 2Nd St, Millville, NJ 08332
      View Details
    • Contact for pricing
      10,600 SF

      Office/Flex Space For Lease

      10,600 SF office/flex space with easy highway access.
      1600 Malone St, Millville, NJ 08332
      View Details
    • $1,000 /Mo
      1,742 SF

      Downtown Millville Commercial Space Available

      Prime commercial space in downtown Millville, ideal for various ventures.
      101 N High St N, Millville, NJ 08332
      View Details
    • $4,800 /Mo
      124,146 SF

      Millville Office/Medical Space Available

      Former hospital campus with flexible configurations suitable for various professional uses.
      1200 High St N, Millville, NJ 08332
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22 Driskill St
    Millville, NJ 08332-4807
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.