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

    359-361 Main St, Unit 361 Glassboro, NJ 08028-1920

    • Commercial real estate
    • 3,690 SF
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0904569
    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

    • Commercial real estate

    Property Details for 359-361 Main St

    Year built
    1960
    Construction
    BRICK
    Lot size
    0.52 lot acres
    Property size
    3,690 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    06 00002-0000-00009
    APU
    600002000000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $680,000
      6.5%
      $625,000
      7%
      $580,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $531,000
      Market price range: $299k - $669k

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

    Location Insight

    • Map
    • Local Demand
    City
    Glassboro
    County
    Gloucester
    State
    New Jersey
    Longitude
    -75.1117
    Latitude
    39.712
    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
    $17,192
    $296,000
    $200,300
    $496,300
    -
    $296,000
    $200,300
    $496,300

    Comparable in this City

    • Value Estimation by Request
      19,925 SF

      800-890 Delsea Dr

      Retail properties • 19,925 SF
      800-890 Delsea Dr, Glassboro, NJ 08028
      View Details
    • Value Estimation by Request
      1.21 Acres

      1195 Delsea N Dr, Unit 1106

      COMMERCIAL (GENERAL) • 1.21 Acres
      1195 Delsea N Dr, Glassboro, NJ 08028-1443
      View Details
    • Value Estimation by Request

      1 High St

      COMMERCIAL (GENERAL)
      1 High St, Glassboro, NJ 08028-2572
      View Details
    • Value Estimation
      $735,000
      5,498 SF

      319 Main St

      COMMERCIAL (GENERAL) • 5,498 SF
      319 Main St, Glassboro, NJ 08028-1920
      View Details
    • Value Estimation
      $1,285,000
      5,202 SF

      221 Delsea N Dr

      COMMERCIAL (GENERAL) • 5,202 SF
      221 Delsea N Dr, Glassboro, NJ 08028-2011
      View Details
    • Value Estimation by Request
      0.43 Acres

      526 Delsea N Dr

      COMMERCIAL (GENERAL) • 0.43 Acres
      526 Delsea N Dr, Glassboro, NJ 08028-1418
      View Details

    Similar Nearby for Sale

    • $599,000
      4,640 SF

      Glassboro Event Center - Prime Location

      Versatile Event Space, High-Growth Area
      14 High St, Glassboro, NJ 08028
      View Details
    • $89,000
      0.14 Acres

      Glassboro Land: High Visibility Site

      Prime location, high traffic, development potential.
      39 Delsea Dr, Glassboro, NJ 08028
      View Details
    • $180,000
      12.00 Acres

      Glassboro Industrial Land - 12 Acres

      Prime NJ land, M-1 zoning, development potential.
      291 Union St, Glassboro, NJ 08028
      View Details
    • $629,900
      2,219 SF

      Renovated Triplex on Main Street

      Well-maintained, fully rented triplex near downtown and campus.
      29 S Main St, Glassboro, NJ 08028
      View Details
    • $50,000
      0.18 Acres

      Land For Sale, Glassboro, NJ

      Land available for purchase in Glassboro, New Jersey.
      Franklin Rd, Glassboro, NJ 08028
      View Details
    • $600,000
      0.48 Acres

      Subdividable Land Near Rowan University

      Subdividable 0.48-acre lot near Rowan University with development potential.
      112 Dickinson Rd, Glassboro, NJ 08028
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      19,500 SF

      Plaza 47: Deptford Office Space

      Modern office & retail suites, ample parking.
      1200 Delsea Dr, Glassboro, NJ 08028
      View Details
    • Contact for pricing
      102,500 SF

      Glassboro Plaza Retail Space

      Prime Glassboro Retail Opportunity, 29,000 SF
      626 Delsea Dr, Glassboro, NJ 08028
      View Details
    • Contact for pricing
      2,375 SF

      Retail Space in Glassboro Center

      Retail space in a well-maintained shopping center near Rowan University.
      698 Delsea Dr N, Glassboro, NJ 08028
      View Details
    • Contact for pricing
      50,496 SF

      Spacious Warehouse Near Rowan University

      50,496 SF warehouse on 3.62 acres near Rowan University.
      20 Warrick Ave, Glassboro, NJ 08028
      View Details
    • Contact for pricing
      19,925 SF

      Glassboro Retail Center For Lease

      Prime Retail Space, Multiple Units Available
      800-890 Delsea Dr, Glassboro, NJ 08028
      View Details
    • Contact for pricing
      29,000 SF

      Retail Space Near Rowan University

      Redevelopment opportunity near ShopRite and Rowan University.
      616 Delsea Dr N, Glassboro, NJ 08028
      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.
    359-361 Main St, Unit 361
    Glassboro, NJ 08028-1920
    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.