Renovated 8-Unit Apartment
New
For Sale
$699,000
105107 105-107 Atlantic St, Bridgeton, NJ 08302
Two-building multifamily property with updated kitchens, bathrooms, flooring, and paint throughout the units.
Property Size2,928 SF
Price / SF$238.73
Days on Market2
Property Features for 105107 105-107 Atlantic St
General Information
Standard status
Active
Size
2,928 SF
Property subtype
Multi-Family
Financials
Asking Price
$1,600,000
Cap Rate
9%
Additional Details
Multifamily Units
17
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Monmouth/Ocean
Listed By:
Efrayim Lax · License #1751383
(732) 942-5280
Source:
Obrienrealtyllc
Added: Sep 1
Last Checked: Sep 1 at 9:16PM
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 Realty Monmouth/Ocean
Investment Insights
Based on property information with market context.
This multifamily property comprises 8 units across two buildings, with a mix of 2 one-bedroom units, 5 two-bedroom units, and 1 three-bedroom unit. Renovations include new carpet and vinyl flooring, fresh interior paint, updated bathrooms, and renovated kitchens. The buildings date to 1900.
The property is offered as a package with an additional property, as stated in the listing materials. The reported capitalization rate is 9 cap.
The property is offered as a package with an additional property, as stated in the listing materials. The reported capitalization rate is 9 cap.
Key Highlights
- 8 units arranged across two buildings
- Unit mix includes 2 one‑bedroom, 5 two‑bedroom, and 1 three‑bedroom units
- Renovations include kitchens, bathrooms, flooring, and interior paint
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
$35,053
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
5.01%
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%
$701,060
$701.1K
Cap Rate 7%
$500,757
$500.8K
Cap Rate 9%
$389,478
$389.5K
Market Conditions
NOI Build-Up for 2,928 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
$68.2K $23.28/SF
− Vacancy
−$4.4K −$1.51/SF
EGI
$63.7K $21.77/SF
− OpEx
−$28.7K −$9.80/SF
NOI
$35.1K $11.97/SF
Area
Cumberland County, NJ
Vacancy
6.50%
Lease Rate
$23.28 /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%
$701,060
Cap Rate 7%
$500,757
Cap Rate 9%
$389,478
Alternative Uses
Best Use
Apartment 5plus
$500.8K
$438.2K – $584.2K
NOI $35,053 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.13M
NOI $307,749 @ 7.0% cap · market cap 44.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 08302, NJ
47,826
Population
16,038
Households
3
Avg Household Size
36
Median Age
13%
College-Educated
77%
High-School Grad
142.6 sq mi
ZIP Area
335
Density / Sq Mi
$60,301
Median Household Income
$34,137
Median Earnings
$1,351
Median Rent
$202,000
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?
Apartment building - Two-building multifamily property with updated kitchens, bathrooms, flooring, and paint throughout the units.
Where is this apartment building located?
The property is located at 105107 105-107 Atlantic St Bridgeton, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 8 units arranged across two buildings; Unit mix includes 2 one‑bedroom, 5 two‑bedroom, and 1 three‑bedroom units; Renovations include kitchens, bathrooms, flooring, and interior paint
