Remodeled Residential Income
For Sale
$254,900
115 E KINGS HIGHWAY Unit #341, Maple Shade, NJ 08052
First-floor condominium with updated interiors, private patio, dedicated parking, and community pool access.
Property Size1,136 SF
Days on Market9
Property Features for 115 E KINGS HIGHWAY Unit #341
General Information
Standard status
Active
Size
1,136 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,827
Amenities
pool
clubhouse
private patio
walk-in storage
in-unit laundry
Building Details
Building Size
1,136 SF
Year Built
1972
Listing Agency:
BHHS Fox & Roach-Marlton
(609) 220-2711
Listed By:
Barbara McKale · License #8439578
(609) 220-2711
Source:
Patmckennarealtors
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 11:14AM
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 BHHS Fox & Roach-Marlton
Investment Insights
Based on property information with market context.
This first-floor Watergate condominium was built in 1972 and features two bedrooms, one full bathroom, a spacious living room, dining area, eat-in kitchen, laundry area, private patio, and a 12' x 5' walk-in storage room. Recent improvements include COREtec luxury vinyl flooring, five-inch baseboards, six-panel doors, custom blinds, a new central air-conditioning system, and updated lighting and fixtures. The kitchen includes LG stainless-steel appliances, granite countertops, raised-panel cabinetry, under-cabinet lighting, recessed lighting, a glass-tile backsplash, and a stainless-steel recessed sink. The bathroom has a tiled walk-in shower with a built-in seat and glass doors.
A dedicated parking space is positioned behind the patio entrance. Association services include heat, hot water, sewer, exterior maintenance, grounds maintenance, and access to the community pool and clubhouse. The property is located at 115 E Kings Highway in Maple Shade, New Jersey.
A dedicated parking space is positioned behind the patio entrance. Association services include heat, hot water, sewer, exterior maintenance, grounds maintenance, and access to the community pool and clubhouse. The property is located at 115 E Kings Highway in Maple Shade, New Jersey.
Key Highlights
- First‑floor Watergate condominium with 2 bedrooms and 1 full bath
- 12' x 5' walk‑in storage room plus designated laundry area
- Updated kitchen with LG stainless‑steel appliances, granite counters, and glass‑tile backsplash
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
$17,469
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
6.85%
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%
$349,380
$349.4K
Cap Rate 7%
$249,557
$249.6K
Cap Rate 9%
$194,100
$194.1K
Market Conditions
NOI Build-Up for 1,136 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
$34.1K $30.00/SF
− Vacancy
−$2.3K −$2.04/SF
EGI
$31.8K $27.96/SF
− OpEx
−$14.3K −$12.58/SF
NOI
$17.5K $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 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%
$349,380
Cap Rate 7%
$249,557
Cap Rate 9%
$194,100
Alternative Uses
Best Use
Apartment 5plus
$249.6K
$218.4K – $291.2K
NOI $17,469 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.6K
$259.6K – $346.1K
NOI $20,764 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium with updated interiors, private patio, dedicated parking, and community pool access.
Where is this residential income property located?
The property is located at 115 E KINGS HIGHWAY Unit #341 Maple Shade, NJ.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: First‑floor Watergate condominium with 2 bedrooms and 1 full bath; 12' x 5' walk‑in storage room plus designated laundry area; Updated kitchen with LG stainless‑steel appliances, granite counters, and glass‑tile backsplash
