Mixed-Use Property with Apartment
For Sale
$450,000
2709 Westfield Avenue, Camden, NJ 08105
Two adjacent buildings offer occupied 1BD/1BTH apartments plus a vacant commercial space and a small fenced backyard.
Property Size2,400 SF
Price / SF$187.50
Days on Market525
Property Features for 2709 Westfield Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Zoning
C-1
Net Operating Income
$36,628
Additional Details
Fenced Yard
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$4,553
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
2,400 SF
Year Built
1900
Listing Agency:
KW Empower
(856) 222-0077
Listed By:
Brittany Moody
(609) 744-6614
Source:
Thetristaterealestategroup
Added: Mar 31, 2025
Changed: Sep 5
Last Checked: Sep 5 at 5:13AM
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 KW Empower
Investment Insights
Based on property information with market context.
This mixed-use offering includes two adjacent buildings with apartment and commercial components. 2709 Westfield Avenue features four 1BD/1BTH apartments, with three currently occupied. Unit D includes basement access.
2707 Westfield Avenue includes a commercial space that is currently vacant. The space was last occupied by a vape shop and is paired with three 1BD/1BTH apartments, all of which are currently rented. The property also offers a small fenced backyard.
The seller notes the buildings may be purchased separately or as a package.
2707 Westfield Avenue includes a commercial space that is currently vacant. The space was last occupied by a vape shop and is paired with three 1BD/1BTH apartments, all of which are currently rented. The property also offers a small fenced backyard.
The seller notes the buildings may be purchased separately or as a package.
Key Highlights
- Two adjacent buildings with a mix of occupied 1BD/1BTH apartments and a vacant commercial space
- Building at 2709 Westfield: four 1BD/1BTH apartments; three currently occupied and Unit D has basement access
- Building at 2707 Westfield: commercial space (currently vacant) plus three 1BD/1BTH apartments; all three currently rented
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
$25,110
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
5.58%
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%
$502,200
$502.2K
Cap Rate 7%
$358,714
$358.7K
Cap Rate 9%
$279,000
$279.0K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$40.2K $16.74/SF
− OpEx
−$15.1K −$6.28/SF
NOI
$25.1K $10.46/SF
Area
Camden County, NJ
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$502,200
Cap Rate 7%
$358,714
Cap Rate 9%
$279,000
Alternative Uses
Best Use
Mixed Use
$358.7K
$313.9K – $418.5K
NOI $25,110 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,373 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$608.5K
$532.5K – $710.0K
NOI $42,597 @ 7.0% cap · market cap 9.47%
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?
Mixed-use property - Two adjacent buildings offer occupied 1BD/1BTH apartments plus a vacant commercial space and a small fenced backyard.
Where is this mixed-use property located?
The property is located at 2709 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: Two adjacent buildings with a mix of occupied 1BD/1BTH apartments and a vacant commercial space; Building at 2709 Westfield: four 1BD/1BTH apartments; three currently occupied and Unit D has basement access; Building at 2707 Westfield: commercial space (currently vacant) plus three 1BD/1BTH apartments; all three currently rented
