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    Quadplex with Private Entries Title is generated by Realmo AI

    315 STATE Street, Blackwood, NJ 08012

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    For Sale
    $624,900

    MULTI_FAMILY - Other - BLACKWOOD, NJ

    Property size:
    4,514 SF
    Lot size:
    0.36 Acres
    Price / SF:
    $138/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 315 STATE Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking
    10
    Parking features
    Garage - Detached, Garage - Attached, Driveway
    Standard status
    Active
    Size
    4,514 SF
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Annual Amount
    15085

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1966
    Number of units
    1
    Building materials
    Frame, Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Dana Grigore

    Listing agent Dana Grigore License #1434642

    Listing office HomeSmart First Advantage Realty 498 Kings Highway, CHERRY HILL, NJ

    Listing date Jun 4, 2026

    MLS# NJCD2118826 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 4,500 SF total living space with multiple private entries and kitchens across the main home and 3 additional apartments
    • 1966 construction with frame and brick exterior; forced air heating and central air in the main home and select apartments
    • Main home features 3 bedrooms and 1.5 baths with a living room (fireplace), newly renovated kitchen, dining room, great room, laundry, and basement
    • HVAC recently updated in the main home; Apartments 1 and 2 share HVAC with the main home, while Apartment 3 has A/C and electric heat
    • Apartment layout includes (2) additional 2‑bedroom/1‑bath units and (1) additional 1‑bedroom/1‑bath unit, each with its own kitchen and private entry
    • Parking includes an attached 2‑car garage, an additional detached 2‑car garage with dedicated electric, plus driveway parking; large fenced yard

    Overview

    This quadplex includes a 3-bedroom, 1.5-bath main home plus three additional apartments, all described as having their own kitchens and private entry access. The main home features a living room with a fireplace, a newly renovated kitchen, dining room, great room, laundry, and basement. The HVAC in the main home was recently updated. Apartment 1 includes back door entry with a kitchen and living room. Apartment 2 is located above the garage and includes a kitchen, living room, and washer/dryer. Apartment 3 is adjacent to the sliding glass door on the main home and has a kitchen/living room, with air conditioning and electric heat noted for this unit. Utilities are shared among all units, and Apartments 1 and 2 share HVAC with the main home.

    The property sits on a private lot and includes an attached 2-car garage and an additional 2-car detached garage with dedicated electric, along with parking described for multiple vehicles. The listing also notes convenience to major highways, shopping areas, and eateries.

    With multiple self-contained living options under one roof, the configuration can fit owner-occupants and others looking for flexible household arrangements, extended family living, or family-based income potential. The combination of separate entries, dedicated garage space, and a fenced yard supports day-to-day privacy and practical living for residents.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $77.5k $17.16
    − Vacancy −$4.1k −$0.91
    EGI $73.3k $16.25
    − OpEx −$22.0k −$4.87
    NOI $51.3k $11.37
    4,514 SF · lease $17.16/SF/yr · vacancy 5.32% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $733.4K
    $641.7K – $855.6K (±1% cap)
    NOI $51,338 @ 7.0% cap · market cap 8.22%
    Second Best
    Apartment 5plus
    $654.9K
    $573.0K – $764.0K (±1% cap)
    NOI $45,842 @ 7.0% cap · market cap 7.34%
    Theoretical Best
    Office A
    $1.14M
    $1.00M – $1.34M (±1% cap)
    NOI $80,118 @ 7.0% cap · market cap 12.82%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Blackwood
    County
    Camden
    State
    New Jersey
    Longitude
    -75.0538788
    Latitude
    39.7960815

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    FAQs

    What type of property is this?
    Quadplex - Four independent units each with kitchens and private entry, including a renovated main home.
    Where is this quadplex located?
    The property is located at 315 STATE Street Blackwood, NJ.
    What is the asking price?
    The asking price for this property is $624,900.
    What are key features of this property?
    This property features: Approximately 4,500 SF total living space with multiple private entries and kitchens across the main home and 3 additional apartments; 1966 construction with frame and brick exterior; forced air heating and central air in the main home and select apartments; Main home features 3 bedrooms and 1.5 baths with a living room (fireplace), newly renovated kitchen, dining room, great room, laundry, and basement
    (609) 760-4323
    We can help!
    Listing Contact
    Dana Grigore
    Real Estate License ID: 1434642
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    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.

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