Tenant-Occupied Income
For Sale
$165,000
114F CHERRY PARKE, Cherry Hill, NJ 08002
Updated single-level residence with included pool access and private basement storage.
Property Size944 SF
Days on Market61
Property Features for 114F CHERRY PARKE
General Information
Standard status
Active
Size
944 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,448
Amenities
pool
storage unit
Building Details
Building Size
944 SF
Year Built
1953
Tenancy
Single
Listing Agency:
EXP Realty, LLC
Listed By:
Elizabeth Fahy
(856) 379-5479
Source:
Patmckennarealtors
Added: Jul 21
Changed: Sep 5
Last Checked: Sep 18 at 10:47AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This residential income property is a single-floor unit with 2 bedrooms and 1 bathroom. The interior has been updated, including the kitchen appliances, and the unit includes a private storage area in the basement. The property is currently occupied by a tenant through September 2027.
Residents have access to a courtyard pool, which is included with the property. The setting is near the Speed line serving Philadelphia and within minutes of Haddonfield, restaurants, shopping centers, playgrounds, Wallworth Pond, and Challenge Grove Park. A nearby creek provides opportunities for kayaking and fishing.
Residents have access to a courtyard pool, which is included with the property. The setting is near the Speed line serving Philadelphia and within minutes of Haddonfield, restaurants, shopping centers, playgrounds, Wallworth Pond, and Challenge Grove Park. A nearby creek provides opportunities for kayaking and fishing.
Key Highlights
- Tenant occupied through September 2027
- Updated 2‑bedroom, 1‑bathroom single‑floor unit
- Recently updated kitchen appliances
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
8.80%
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 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.5K
$215.7K – $287.6K
NOI $17,255 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
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 - Updated single-level residence with included pool access and private basement storage.
Where is this residential income property located?
The property is located at 114F CHERRY PARKE Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Tenant occupied through September 2027; Updated 2‑bedroom, 1‑bathroom single‑floor unit; Recently updated kitchen appliances
