Park-Facing Residential Income
For Sale
$175,000
110 CHERRY PARKE, Cherry Hill, NJ 08002
Two-bedroom home with an open living, dining, and kitchen arrangement across from Cooper River Park.
Property Size944 SF
Days on Market17
Property Features for 110 CHERRY PARKE
General Information
Standard status
Active
Size
944 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,166
Amenities
swimming pool
Building Details
Building Size
944 SF
Year Built
1950
Listing Agency:
Weichert Realtors-Haddonfield
(646) 708-1575
Listed By:
Elizabeth Anne Arking · License #2081017
(646) 708-1575
Source:
Patmckennarealtors
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 21 at 11:01AM
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 Weichert Realtors-Haddonfield
Investment Insights
Based on property information with market context.
This two-bedroom residential income property was built in 1950 and offers park-facing views through three large living-area windows. The interior includes an open connection between the living room, dining area, and kitchen, along with a kitchen pass-through window, cabinets, stainless steel refrigerator, and oven. One full bathroom completes the home. Downstairs storage is not included, and the property is being sold as is.
The property is located across from Cooper River Park in Cherry Hill, with shopping, dining, entertainment, and major highways described as minutes away. Community services include a swimming pool, snow removal, exterior upkeep, heat, and water covered through the monthly fee. The buyer will be responsible for obtaining a CO and any other required township approvals.
The property is located across from Cooper River Park in Cherry Hill, with shopping, dining, entertainment, and major highways described as minutes away. Community services include a swimming pool, snow removal, exterior upkeep, heat, and water covered through the monthly fee. The buyer will be responsible for obtaining a CO and any other required township approvals.
Key Highlights
- Two‑bedroom home built in 1950
- Park‑facing views with three large living‑area windows
- Open living, dining, and kitchen arrangement
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
$14,517
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
8.30%
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%
$290,340
$290.3K
Cap Rate 7%
$207,386
$207.4K
Cap Rate 9%
$161,300
$161.3K
Market Conditions
NOI Build-Up for 944 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
$28.3K $30.00/SF
− Vacancy
−$1.9K −$2.04/SF
EGI
$26.4K $27.96/SF
− OpEx
−$11.9K −$12.58/SF
NOI
$14.5K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /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%
$290,340
Cap Rate 7%
$207,386
Cap Rate 9%
$161,300
Alternative Uses
Best Use
Apartment 5plus
$207.4K
$181.5K – $242.0K
NOI $14,517 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.5K
$215.7K – $287.6K
NOI $17,255 @ 7.0% cap · market cap 9.86%
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
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 08002, NJ
23,920
Population
9,967
Households
2.4
Avg Household Size
41
Median Age
46%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
3,322
Density / Sq Mi
$105,523
Median Household Income
$56,963
Median Earnings
$1,895
Median Rent
$301,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom home with an open living, dining, and kitchen arrangement across from Cooper River Park.
Where is this residential income property located?
The property is located at 110 CHERRY PARKE Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑bedroom home built in 1950; Park‑facing views with three large living‑area windows; Open living, dining, and kitchen arrangement
