Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    227 Broadway Salem, NJ 08079

    Property Lookup

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

    227 Broadway Salem, NJ 08079

    View on Map
    • Gas stations
    • 0.40 lot acres
    For Sale
    $240,000
    View Listing →
    Established Salem Tire Business For Sale
    $240,000
    1,925 SF

    Established Salem Tire Business

    Profitable Tire Store, Large Lot

    227 Broadway, Salem, NJ 08079
    View Listing
    Property ID
    US59-3053957
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Affordable Tire Salem / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 227 Broadway

    Year built
    1940
    Lot size
    0.40 lot acres
    Property type
    Gas stations
    APN
    13 00062-0000-00003
    APU
    1300062000000003

    Description

    This exceptional commercial property at 227 E Broadway in Salem, NJ presents a unique investment opportunity. The 1,925 square foot building has served as a thriving tire store for over 25 years, boasting a proven track record and established clientele. The sale includes the existing business, allowing for immediate continuation of operations. The property sits on a sizable 0.4-acre lot, providing ample space for inventory storage, customer parking, and potential expansion. The building itself is in good condition and features two newer gas heaters, ensuring efficient and cost-effective operation. Additional storage space is conveniently located at the rear of the building. This turnkey operation offers a rare chance to acquire an established business with significant potential for growth. The existing equipment is available for purchase at an additional cost, providing a seamless transition for the new owner. This is an ideal opportunity for an experienced entrepreneur looking to acquire a profitable, established business with a strong history in the Salem community. The property's prime location and substantial lot size offer significant advantages for continued success. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    New Jersey
    Longitude
    -75.4657
    Latitude
    39.5706
    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
    $6,991
    $63,800
    $29,200
    $93,000
    -
    $63,800
    $29,200
    $93,000

    Comparable in this City

    • Value Estimation by Request
      1,312 SF

      412 Broadway

      GAS STATION • 1,312 SF
      412 Broadway, Salem, NJ 08079-1233
      View Details
    • Value Estimation by Request
      800 SF

      498 Salem Quinton Rd

      SERVICE STATION (FULL SERVICE) • 800 SF
      498 Salem Quinton Rd, Salem, NJ 08079
      View Details
    • Value Estimation by Request
      0.45 Acres

      383 Broadway

      SERVICE STATION (FULL SERVICE) • 0.45 Acres
      383 Broadway, Salem, NJ 08079-1146
      View Details
    • Value Estimation by Request
      0.06 Acres

      175 Chestnut St

      GAS STATION • 0.06 Acres
      175 Chestnut St, Salem, NJ 08079-1601
      View Details
    • Value Estimation by Request
      3,970 SF

      97 Quinton-Marlboro Rd

      Retail properties & Spaces • 3,970 SF
      97 Quinton-Marlboro Rd, Salem, NJ 08079
      View Details
    • Value Estimation by Request
      0.23 Acres

      44 Broadway

      LIQUOR STORE • 0.23 Acres
      44 Broadway, Salem, NJ 08079-1301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,684 SF

      Former Bank Branch with Drive-Thru

      Well-maintained 2,684 SF former bank branch with drive-thru.
      91 Route 45, Salem, NJ 08079
      View Details
    • Contact for pricing
      2,684 SF

      Retail Space in Salem, NJ

      Retail space available for sale in Salem, New Jersey.
      91-125 Route 45, Salem, NJ 08079
      View Details
    • $190,000
      3,000 SF

      Mixed-Use Property in Salem, NJ

      Three-unit mixed-use property with commercial space and apartments.
      141 W Broadway, Salem, NJ 08079
      View Details
    • $350,000
      2,146 SF

      Iconic Salem Oak Diner For Sale

      Turnkey Silk City Diner in Salem's Historic District.
      113 W Broadway, Salem, NJ 08079
      View Details
    • Contact for pricing

      Salem, NJ Commercial Land

      6.38 acres available near Salem Medical Center.
      195-205 Woodstown Rd, Salem, NJ 08079
      View Details
    • Contact for pricing

      Two-Story Brick School Facility

      Two-story brick school building with parking in Salem, NJ.
      31 Oak St, Salem, NJ 08079
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo
      20,909 SF

      Medical Office Space Near Hospital

      Medical office space for lease near Inspira Medical Center.
      1 Pointers Auburn Rd, Mannington, NJ 08079
      View Details
    • Contact for pricing

      Prime Office Space on Highway

      Office space for rent near hospital and public transport.
      156 Route 45, Salem, NJ 08079
      View Details
    View Listing
    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.
    227 Broadway
    Salem, NJ 08079
    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.
    Sign Up Successful!
    You now have access to more from Realmo!