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

    509 Columbia Ave Millville, NJ 08332-3758

    • Office buildings
    • 5,160 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2023
    $275,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0108338
    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

    • Kim Monica / Nursing Agency

    Property Details for 509 Columbia Ave

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.20 lot acres
    Property size
    5,160 SF
    Property type
    Office buildings
    APN
    10 00353-0000-00002
    APU
    1000353000000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Millville
    County
    Cumberland
    State
    New Jersey
    Longitude
    -75.0417
    Latitude
    39.4001
    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
    2022
    $4,777
    $17,500
    $108,500
    $126,000
    -
    $17,500
    $108,500
    $126,000

    Comparable in this City

    • Value Estimation
      $1,600,000
      2,080 SF

      224 High N St

      OFFICE BUILDING • 2,080 SF
      224 High N St, Millville, NJ 08332-3834
      View Details
    • Value Estimation
      $840,000
      1,000 SF

      3431 Rte 47

      OFFICE BUILDING • 1,000 SF
      3431 Rte 47, Millville, NJ 08332-8818
      View Details
    • Value Estimation by Request
      1,536 SF

      115 Smith St

      OFFICE BUILDING • 1,536 SF
      115 Smith St, Millville, NJ 08332-4224
      View Details
    • Value Estimation
      $3,345,000
      4,560 SF

      17 Main St

      OFFICE BUILDING • 4,560 SF
      17 Main St, Millville, NJ 08332-4286
      View Details
    • Value Estimation by Request
      17.12 Acres

      1015-1017 Steep Run Rd, Unit 1017

      OFFICE BUILDING • 17.12 Acres
      1015-1017 Steep Run Rd, Millville, NJ 08332-7544
      View Details
    • Value Estimation
      $945,000
      1,140 SF

      350 Silver Run Rd

      OFFICE BUILDING • 1,140 SF
      350 Silver Run Rd, Millville, NJ 08332-7204
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,463 SF

      Medical/Professional Office Investment Opportunity

      Value-add opportunity in improving Southern New Jersey submarket.
      1601 North 2Nd St, Millville, NJ 08332
      View Details
    • $300,000
      0.20 Acres

      Updated Commercial Property in Millville

      Commercial property in a high-traffic area with recent updates.
      411 N High St, Millville, NJ 08332
      View Details
    • $199,000
      800 SF

      Professional Office Space in Millville

      Well-maintained office space in a prime Millville location.
      1201 Broad St E, Millville, NJ 08332
      View Details
    • $299,000
      4,650 SF

      Updated Mixed-Use Property Near Downtown

      Updated mixed-use property with commercial space and residential unit near downtown.
      10 E Broad St, Millville, NJ 08332
      View Details
    • $399,000

      Downtown Millville Commercial Building

      Versatile commercial building in Millville's historic downtown district.
      401 High St St N, Millville, NJ 08332
      View Details
    • Contact for pricing
      2.85 Acres

      Prime Millville Office Space Available

      Large Office Campus, Flexible Layouts
      1200 High St, Millville, NJ 08332
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      7,841 SF

      Move-In Ready Millville Office Units

      Premier office building with move-in ready units in high-traffic location.
      608-616 N High St, Millville, NJ 08332
      View Details
    • $30 SF/Yr
      800 SF

      Holly City Plaza, Suite 209

      Millville Office Space for Lease
      201 Kates Blvd, Millville, NJ 08332
      View Details
    • $12 SF/Yr
      124,146 SF

      Millville Commercial Space for Lease

      Versatile 20,000 sq ft space ideal for medical/professional offices.
      1200 High St N, 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
    • $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
    • $2,500 /Mo

      Millville Executive Office Suite For Rent

      Modern office building in Millville Airport Industrial Zone. Utilities included.
      207 Bogden Blvd, 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.
    509 Columbia Ave
    Millville, NJ 08332-3758
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.