Multifamily Property with RESID
For Sale
$350,000
112 Birch Avenue, Westville, NJ 08093
Residential income property with tenant-paid heat and electric expenses, plus sidewalks and street lighting along the property frontage.
Property Size1,680 SF
Price / SF$208.33
Days on Market173
Property Features for 112 Birch Avenue
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESID
Taxes and HOA fees
Annual Taxes
$5,742
Amenities
No
No Pool
Above Grade
Sidewalks, Street Lights
Building Details
Year Built
1942
Listing Agency:
Thomas J Heverly Realty
(856) 931-0088
Listed By:
Thomas J. Heverly · License #341599
(856) 931-0088
Source:
Compass
Added: Mar 12
Changed: Aug 30
Last Checked: Aug 30 at 11:30PM
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 Thomas J Heverly Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 1,680 square feet and was built in 1942. The residence is classified for RESID zoning and includes above-grade improvements. The property has no pool, while sidewalks and street lights serve the surrounding street environment.
Tenants are responsible for their own heat and electric costs. The property is located in Westville, New Jersey, within Gloucester County and the Westville Boro MLS area. It falls within the Gateway Regional Schools district, with Gateway Regional High School identified in the property information.
Tenants are responsible for their own heat and electric costs. The property is located in Westville, New Jersey, within Gloucester County and the Westville Boro MLS area. It falls within the Gateway Regional Schools district, with Gateway Regional High School identified in the property information.
Key Highlights
- 1,680‑square‑foot multifamily property built in 1942
- RESID zoning designation
- Tenants pay their own heat and electric costs
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
$19,636
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
5.61%
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%
$392,720
$392.7K
Cap Rate 7%
$280,514
$280.5K
Cap Rate 9%
$218,178
$218.2K
Market Conditions
NOI Build-Up for 1,680 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
$37.9K $22.56/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$35.7K $21.25/SF
− OpEx
−$16.1K −$9.56/SF
NOI
$19.6K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /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%
$392,720
Cap Rate 7%
$280,514
Cap Rate 9%
$218,178
Alternative Uses
Best Use
Apartment 5plus
$280.5K
$245.5K – $327.3K
NOI $19,636 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.7K
$494.1K – $658.8K
NOI $39,530 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 08093, NJ
9,933
Population
4,473
Households
2.2
Avg Household Size
39
Median Age
22%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,483
Density / Sq Mi
$70,257
Median Household Income
$41,051
Median Earnings
$1,230
Median Rent
$192,800
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?
Multifamily property - Residential income property with tenant-paid heat and electric expenses, plus sidewalks and street lighting along the property frontage.
Where is this multifamily property located?
The property is located at 112 Birch Avenue Westville, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,680‑square‑foot multifamily property built in 1942; RESID zoning designation; Tenants pay their own heat and electric costs
