92-Room Hotel with Exterior
For Sale
$6,500,000
1132 Route 73 Unit Rodeway, Mount Laurel, NJ 08054
Franchise-operated lodging property with reinforced-concrete construction and substantial 2023 capital improvements.
Property Size41,148 SF
Lot Size3.22 Acres
Price / SF$157.97
Days on Market191
Property Features for 1132 Route 73 Unit Rodeway
General Information
Standard status
Active
Size
41,148 SF
Lot size
3.22 Acres
Property subtype
General Commercial
Additional Details
Road Access
Yes
Amenities
131 Parking Spaces. On Site.
Building Details
Year Renovated
2023
Stories
2
Construction
reinforced concrete
Listing Agency:
Keller Williams Realty Freehold
(732) 769-1110
Listed By:
Iftikhar Haq · License #0789304
(732) 769-1110
Source:
Xome
Added: Feb 21
Changed: Aug 30
Last Checked: Aug 30 at 8:29PM
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 Freehold
Investment Insights
Based on property information with market context.
This 92-room hotel occupies a 3.22-acre site and uses a two-story exterior-corridor layout with reinforced-concrete construction. The property is operated under the Choice Hotels International franchise system and includes 131 on-site parking spaces. Building area totals 41,148 square feet.
Capital work completed in 2023 included a new boiler, comprehensive plumbing replacement, and new PTAC units throughout the guest rooms. The property also received an earlier renovation in 2012. Located at 1132 Route 73 in Mount Laurel, New Jersey, the hotel fronts a corridor reporting nearly 65,000 vehicles daily, with over 70,000 daytime employees within a three-mile radius.
Capital work completed in 2023 included a new boiler, comprehensive plumbing replacement, and new PTAC units throughout the guest rooms. The property also received an earlier renovation in 2012. Located at 1132 Route 73 in Mount Laurel, New Jersey, the hotel fronts a corridor reporting nearly 65,000 vehicles daily, with over 70,000 daytime employees within a three-mile radius.
Key Highlights
- 92‑room hotel on a 3.22‑acre site
- Two‑story exterior‑corridor design with reinforced‑concrete construction
- 2023 improvements included a new boiler, comprehensive plumbing, and new PTAC units in all guest rooms
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
$225,124
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
3.46%
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%
$4,502,480
$4.5M
Cap Rate 7%
$3,216,057
$3.2M
Cap Rate 9%
$2,501,378
$2.5M
Market Conditions
NOI Build-Up for 41,148 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
$553.0K $13.44/SF
− Vacancy
−$79.1K −$1.92/SF
EGI
$473.9K $11.52/SF
− OpEx
−$248.8K −$6.05/SF
NOI
$225.1K $5.47/SF
Area
Burlington County, NJ
Vacancy
14.30%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
52.50%
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%
$4,502,480
Cap Rate 7%
$3,216,057
Cap Rate 9%
$2,501,378
Alternative Uses
Best Use
Hotel Hospitality
$3.22M
$2.81M – $3.75M
NOI $225,124 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$86.06M
$75.30M – $100.40M
NOI $6,024,218 @ 7.0% cap · market cap 92.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,085
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?
Hotel - Franchise-operated lodging property with reinforced-concrete construction and substantial 2023 capital improvements.
Where is this hotel located?
The property is located at 1132 Route 73 Unit Rodeway Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 92‑room hotel on a 3.22‑acre site; Two‑story exterior‑corridor design with reinforced‑concrete construction; 2023 improvements included a new boiler, comprehensive plumbing, and new PTAC units in all guest rooms
