Renovated Two-Bedroom
New
For Sale
$229,000
115 E KINGS HIGHWAY #412, Maple Shade, NJ 08052
The second-floor residence has one full bathroom and a kitchen appointed with quartz counters and stainless steel appliances.
Property Size1,216 SF
Price / SF$188.32
Days on Market6
Property Features for 115 E KINGS HIGHWAY #412
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Year Built
1972
Listing Agency:
Prime Realty Partners
(856) 210-3000
Listed By:
Robert Bunis · License #RS351154
(609) 220-6311
Source:
Cummingsrealtors
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 24 at 7:02PM
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 Prime Realty Partners
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Investment Insights
Based on property information with market context.
This 1,216-square-foot, second-floor condo in Watergate Condos has two bedrooms and one full bathroom. Renovations include new flooring, fresh paint, and an updated kitchen with white shaker cabinetry, quartz countertops, and stainless steel appliances. The bathroom also has updated finishes.
Built in 1972, the unit is located at 115 E Kings Highway in Maple Shade, New Jersey.
Built in 1972, the unit is located at 115 E Kings Highway in Maple Shade, New Jersey.
Key Highlights
- Two bedrooms and one full bathroom
- 1,216 square feet on the second floor
- Renovated with new flooring and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,700
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,000
$374.0K
Cap Rate 7%
$267,143
$267.1K
Cap Rate 9%
$207,778
$207.8K
Market Conditions
NOI Build-Up for 1,216 SF
Gross rent
$36.5K $30.00/SF
− Vacancy
−$2.5K −$2.04/SF
EGI
$34.0K $27.96/SF
− OpEx
−$15.3K −$12.58/SF
NOI
$18.7K $15.38/SF
Area
Ocean 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 Rate 5%
$374,000
Cap Rate 7%
$267,143
Cap Rate 9%
$207,778
Alternative Uses
Best Use
Apartment 5plus
$267.1K
$233.8K – $311.7K
NOI $18,700 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$317.5K
$277.8K – $370.5K
NOI $22,227 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
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Business Placement
Demographics for 08052, NJ
20,003
Population
9,401
Households
2.1
Avg Household Size
38
Median Age
34%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,264
Density / Sq Mi
$75,732
Median Household Income
$49,963
Median Earnings
$1,574
Median Rent
$235,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The second-floor residence has one full bathroom and a kitchen appointed with quartz counters and stainless steel appliances.
Where is this residential income property located?
The property is located at 115 E KINGS HIGHWAY #412 Maple Shade, NJ.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Two bedrooms and one full bathroom; 1,216 square feet on the second floor; Renovated with new flooring and fresh paint
