Residential Income Condo with
New
For Sale
$249,900
104 W BLUEBELL LANE, Mount Laurel, NJ 08054
Upper-level residence combines flexible interior space with access to shared recreation and fitness amenities.
Property Size1,171 SF
Days on Market5
Property Features for 104 W BLUEBELL LANE
General Information
Standard status
Active
Size
1,171 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,912
Amenities
clubhouse
fitness center
pool
event space
lakes
Building Details
Building Size
1,171 SF
Year Built
1982
Listing Agency:
Keller Williams - Main Street
Listed By:
Taralyn Hendricks · License #1537738
(609) 760-7847
Source:
Patmckennarealtors
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 2:28PM
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 Keller Williams - Main Street
Investment Insights
Based on property information with market context.
This upper-level condo has two bedrooms, one full bath, and a half bath. A sunroom extends the living area, while the main living and dining spaces connect in an open layout. The kitchen includes a breakfast bar, expanded pantry, and attic access; the primary bedroom has a walk-in closet. Both bathrooms have been updated. The property was built in 1982.
Birchfield community amenities include a clubhouse, fitness center with 24-hour access, seasonal pool, event space, and lakes. Routes 73 and 38, I-295, and the New Jersey Turnpike are nearby, along with shopping and dining.
Birchfield community amenities include a clubhouse, fitness center with 24-hour access, seasonal pool, event space, and lakes. Routes 73 and 38, I-295, and the New Jersey Turnpike are nearby, along with shopping and dining.
Key Highlights
- Two bedrooms and 1.5 bathrooms
- Upper‑level condo with a sunroom
- Kitchen has a two‑seat breakfast bar, expanded pantry, and attic access
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
$15,337
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
6.14%
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%
$306,740
$306.7K
Cap Rate 7%
$219,100
$219.1K
Cap Rate 9%
$170,411
$170.4K
Market Conditions
NOI Build-Up for 1,171 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
$29.5K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.9K $23.81/SF
− OpEx
−$12.5K −$10.72/SF
NOI
$15.3K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$306,740
Cap Rate 7%
$219,100
Cap Rate 9%
$170,411
Alternative Uses
Best Use
Apartment 5plus
$219.1K
$191.7K – $255.6K
NOI $15,337 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.45M
$2.14M – $2.86M
NOI $171,439 @ 7.0% cap · market cap 68.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
228
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?
Residential income property - Upper-level residence combines flexible interior space with access to shared recreation and fitness amenities.
Where is this residential income property located?
The property is located at 104 W BLUEBELL LANE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two bedrooms and 1.5 bathrooms; Upper‑level condo with a sunroom; Kitchen has a two‑seat breakfast bar, expanded pantry, and attic access
