92-Room Exterior-Corridor
For Sale
$6,200,000
1132 Route 73, Mount Laurel, NJ 08054
Commercial Sale, Mount Laurel, NJ
Property Size41,148 SF
Lot Size2.42 Acres
Price / SF$150.68
Days on Market168
Property Features for 1132 Route 73
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
131
Directions
Route 73, Mount Laurel
Standard status
Active
APN
24-01306-01-00007-02
Size
41,148 SF
Lot size
2.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
125070
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Listing Agency:
Keller Williams Realty Freehold
(732) 536-9010
Listed By:
Iftikhar Haq · License #0789304
(732) 769-1110
Added: Mar 24
Changed: Sep 7
Last Checked: Sep 7 at 11:06PM
MLS# 22607780
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 92-room hotel contains 41,148 square feet in a two-story, exterior-corridor configuration built with reinforced concrete. The guest-room access design supports the property’s economy-class lodging format. Capital work completed in 2023 included a new boiler, comprehensive plumbing replacement, and new PTAC units throughout the guest rooms; the property also received an earlier renovation in 2012.
The hotel operates as a franchise under the Choice Hotels International umbrella and is located at 1132 Route 73 in Mount Laurel, New Jersey. Route 73 carries nearly 65,000 vehicles daily, while more than 70,000 daytime employees are located within a three-mile radius. The site is served by public water and public sewer.
The hotel operates as a franchise under the Choice Hotels International umbrella and is located at 1132 Route 73 in Mount Laurel, New Jersey. Route 73 carries nearly 65,000 vehicles daily, while more than 70,000 daytime employees are located within a three-mile radius. The site is served by public water and public sewer.
Key Highlights
- 92‑room hotel with 41,148 square feet of building area
- Two‑story, exterior‑corridor design constructed with reinforced concrete
- 2023 improvements included a new boiler and comprehensive new plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$225,124
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,502,480
$4.5M
Cap Rate 7%
$3,216,057
$3.2M
Cap Rate 9%
$2,501,378
$2.5M
Market Conditions
NOI Build-Up for 41,148 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$553.0K $13.44/SF
− Vacancy
−$79.1K −$1.92/SF
EGI
$473.9K $11.52/SF
− OpEx
−$248.8K −$6.05/SF
NOI
$225.1K $5.47/SF
Area
Burlington County, NJ
Vacancy
14.30%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,502,480
Cap Rate 7%
$3,216,057
Cap Rate 9%
$2,501,378
Alternative Uses
Best Use
Hotel Hospitality
$3.22M
$2.81M – $3.75M
NOI $225,124 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$86.06M
$75.30M – $100.40M
NOI $6,024,218 @ 7.0% cap · market cap 97.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Two-story hotel with updated building systems, exterior guest-room access, and franchise operations under Choice Hotels International.
Where is this hotel located?
The property is located at 1132 Route 73 Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 92‑room hotel with 41,148 square feet of building area; Two‑story, exterior‑corridor design constructed with reinforced concrete; 2023 improvements included a new boiler and comprehensive new plumbing
