Two-Unit Duplex with
New
For Sale
$285,000
100-102 CHESTNUT ST, Millville, NJ 08332
Each residence includes an eat-in kitchen, storage, and individual laundry facilities.
Property Size1,928 SF
Price / SF$147.82
Days on Market5
Property Features for 100-102 CHESTNUT ST
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
individual laundry per unit
Listing Agency:
Swink Realty
(856) 765-3999
Listed By:
Abrianna Elena Boston · License #2187237
(856) 305-9348
Source:
Keygroupmd
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 12 at 7:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Swink Realty
Investment Insights
Based on property information with market context.
Located at 100–102 Chestnut Street, this 1,928-square-foot duplex contains two separate residential units. Each unit provides 2 bedrooms, 1.5 bathrooms, an eat-in kitchen, living space, storage, and its own laundry area. The layout supports separate occupancy and offers a practical configuration for rental use or an owner seeking a multi-unit residence.
The property sits off West Main Street in Millville, near local shops, restaurants, transportation, and major routes. Both units are included in the sale, and the property is being offered As-Is.
The property sits off West Main Street in Millville, near local shops, restaurants, transportation, and major routes. Both units are included in the sale, and the property is being offered As-Is.
Key Highlights
- Two‑unit duplex with 1,928 square feet
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Eat‑in kitchen and living space in each unit
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
$25,073
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
8.80%
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%
$501,460
$501.5K
Cap Rate 7%
$358,186
$358.2K
Cap Rate 9%
$278,589
$278.6K
Market Conditions
NOI Build-Up for 1,928 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
$38.2K $19.80/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$35.8K $18.58/SF
− OpEx
−$10.7K −$5.57/SF
NOI
$25.1K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$501,460
Cap Rate 7%
$358,186
Cap Rate 9%
$278,589
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,073 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$329.7K
$288.5K – $384.7K
NOI $23,082 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,644 @ 7.0% cap · market cap 71.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes an eat-in kitchen, storage, and individual laundry facilities.
Where is this duplex located?
The property is located at 100-102 CHESTNUT ST Millville, NJ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,928 square feet; Each unit includes 2 bedrooms and 1.5 bathrooms; Eat‑in kitchen and living space in each unit
