Listing Agency: Feinberg & McBurney Realty/Development, LLC

Listed By: Marc L. Raiken Show Phone

Source: Keygroupmd

Added: Sep 9 Changed: Sep 10 Last Checked: Sep 12 at 5:42AM

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Investment Insights

Based on property information with market context.

This 3,800-square-foot quadplex has been renovated into four residential units, creating a compact multifamily property with updated interior features. Each unit includes granite countertops, cable television, and its own washer/dryer equipment.

Located at 104 GANTTOWN RD in Turnersville, the property is in Washington Township, Gloucester County, NJ. Black Horse Pike (Route 42) and the Atlantic City Expressway provide nearby roadway access, while Philadelphia is approximately 10 miles away. A monument sign on the property may provide an additional income source.

Key Highlights

• Renovated 3,800‑square‑foot quadplex with 4 residential units
• All units include granite countertops
• Private washer/dryer equipment in every 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

$63,597

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

4.71%

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%

$1,271,940 $1.3M

Cap Rate 7%

$908,529 $908.5K

Cap Rate 9%

$706,633 $706.6K

Market Conditions

NOI Build-Up for 3,800 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

$97.1K $25.56/SF

− Vacancy

−$6.3K −$1.65/SF

EGI

$90.9K $23.91/SF

− OpEx

−$27.3K −$7.17/SF

NOI

$63.6K $16.74/SF

Area

Bergen County, NJ

Vacancy

6.46%

Lease Rate

$25.56 /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%

$1,271,940

Cap Rate 7%

$908,529

Cap Rate 9%

$706,633

Alternative Uses

Best Use

Multifamily LT 5

$908.5K

$795.0K – $1.06M (±1% cap)

NOI $63,597 @ 7.0% cap · market cap 4.71%

Second Best

Apartment 5plus

$834.8K

$730.5K – $973.9K (±1% cap)

NOI $58,436 @ 7.0% cap · market cap 4.33%

Theoretical Best

Office A

$992.3K

$868.2K – $1.16M (±1% cap)

NOI $69,458 @ 7.0% cap · market cap 5.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Big Box & Wholesale Store Pharmacy Parking Lot & Garage Storage Facility Restaurant Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

624

Businesses Nearby

Explore this area Business Placement

Demographics for 08012, NJ

38,581

Population

16,192

Households

2.4

Avg Household Size

40

Median Age

34%

College-Educated

95%

High-School Grad

15.0 sq mi

ZIP Area

2,572

Density / Sq Mi

$93,497

Median Household Income

$52,650

Median Earnings

$1,589

Median Rent

$268,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four residential units offer granite countertops, cable television, and private washer/dryer equipment.

Where is this quadplex located?

The property is located at 104 GANTTOWN RD Turnersville, NJ.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Renovated 3,800‑square‑foot quadplex with 4 residential units; All units include granite countertops; Private washer/dryer equipment in every unit