Mixed-Use Retail and Apartment
For Sale
$450,000
2707 Westfield Avenue, Camden, NJ 08105
Includes a vacant retail space and multiple rented 1BR units, plus basement access and a small fenced backyard.
Property Size2,000 SF
Price / SF$225
Days on Market511
Property Features for 2707 Westfield Avenue
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Zoning
C-1
Net Operating Income
$45,258
Additional Details
Fenced Yard
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$6,577
Amenities
Natural Gas
Yes
Electric
No
Estimated
No Pool
Public
20.00 x 0.00
0.05
Assessor
On Street
Permanent
35000.00
Building Details
Building Size
2,000 SF
Year Built
1900
Listing Agency:
Palm Tree Realty LLC
(856) 222-0077
Listed By:
Francis Brennan · License #1540241
Source:
Thetristaterealestategroup
Added: Mar 31, 2025
Changed: Aug 22
Last Checked: Aug 22 at 3:49AM
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 Palm Tree Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes a commercial space and residential units. The commercial space is currently vacant and was last occupied by a vape shop. Residential components consist of 1BD/1BTH apartments, with three units noted as currently rented at 2707 Westfield, and four 1BD/1BTH apartments at 2709 Westfield with three currently occupied.
The property is presented as two adjacent addresses, with information provided separately for 2707 Westfield and 2709 Westfield. One unit (Unit D) provides basement access, and the property offers a small fenced backyard.
For an owner-occupant or investor seeking to balance retail and residential income, the mix of an available storefront and multiple occupied apartments can support a practical live-and-lease or purely investment strategy. The presence of basement access may also be beneficial to tenants depending on their layout needs, while the fenced backyard adds an additional outdoor feature for the residential portion. The property can be purchased separately or as a package.
The property is presented as two adjacent addresses, with information provided separately for 2707 Westfield and 2709 Westfield. One unit (Unit D) provides basement access, and the property offers a small fenced backyard.
For an owner-occupant or investor seeking to balance retail and residential income, the mix of an available storefront and multiple occupied apartments can support a practical live-and-lease or purely investment strategy. The presence of basement access may also be beneficial to tenants depending on their layout needs, while the fenced backyard adds an additional outdoor feature for the residential portion. The property can be purchased separately or as a package.
Key Highlights
- Mixed‑use property with a vacant commercial space last occupied by a vape shop (2707 Westfield).
- 2707 Westfield includes three 1BR/1BA apartments, all currently rented.
- 2709 Westfield includes four 1BR/1BA apartments; three are currently occupied.
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
$20,311
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
4.51%
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%
$406,220
$406.2K
Cap Rate 7%
$290,157
$290.2K
Cap Rate 9%
$225,678
$225.7K
Market Conditions
NOI Build-Up for 2,000 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
$39.1K $19.56/SF
− Vacancy
−$2.2K −$1.10/SF
EGI
$36.9K $18.46/SF
− OpEx
−$16.6K −$8.31/SF
NOI
$20.3K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /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%
$406,220
Cap Rate 7%
$290,157
Cap Rate 9%
$225,678
Alternative Uses
Best Use
Apartment 5plus
$290.2K
$253.9K – $338.5K
NOI $20,311 @ 7.0% cap · market cap 4.51%
Second Best
Retail
$275.1K
$240.7K – $321.0K
NOI $19,257 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$507.1K
$443.7K – $591.6K
NOI $35,498 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 08105, NJ
26,572
Population
8,681
Households
3.1
Avg Household Size
31
Median Age
8%
College-Educated
63%
High-School Grad
2.6 sq mi
ZIP Area
10,220
Density / Sq Mi
$48,319
Median Household Income
$31,173
Median Earnings
$1,215
Median Rent
$113,100
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?
Apartment building - Includes a vacant retail space and multiple rented 1BR units, plus basement access and a small fenced backyard.
Where is this apartment building located?
The property is located at 2707 Westfield Avenue Camden, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Mixed‑use property with a vacant commercial space last occupied by a vape shop (2707 Westfield).; 2707 Westfield includes three 1BR/1BA apartments, all currently rented.; 2709 Westfield includes four 1BR/1BA apartments; three are currently occupied.
