Upper-Level Residential Income
For Sale
$320,000
Pending
180 WOODLAKE DRIVE, Marlton, NJ 08053
Contemporary unit with vaulted ceilings, updated bathrooms, and access to shared lake, pool, park, and walking paths.
Property Size1,596 SF
Days on Market56
Property Features for 180 WOODLAKE DRIVE
General Information
Standard status
Pending
Size
1,596 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,717
Amenities
lake
walking paths
pool
park
Building Details
Building Size
1,596 SF
Year Built
1987
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Daren M Sautter · License #8836053
(609) 313-1596
Source:
Brucerealty
Added: Jul 27
Changed: Sep 11
Last Checked: Sep 19 at 12:54PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This spacious, contemporary upper-level residential income property features a soft gray color palette, vaulted ceiling, and a second-floor view overlooking the great room. The unit includes two updated bathrooms with newer vanities and flooring, a kitchen equipped with stainless steel appliances less than four years old, and a primary bedroom with a walk-in closet and adjoining bathroom.
Residents have access to Kings Grant community amenities, including a lake, walking paths, pool, and park. The property was built in 1987 and is located at 180 Woodlake Drive in Marlton, New Jersey.
Residents have access to Kings Grant community amenities, including a lake, walking paths, pool, and park. The property was built in 1987 and is located at 180 Woodlake Drive in Marlton, New Jersey.
Key Highlights
- Spacious contemporary upper‑level unit with vaulted ceiling
- Second‑floor view overlooking the great room
- Two updated bathrooms with newer vanities and flooring
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
$16,208
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
5.07%
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%
$324,160
$324.2K
Cap Rate 7%
$231,543
$231.5K
Cap Rate 9%
$180,089
$180.1K
Market Conditions
NOI Build-Up for 1,596 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
$31.2K $19.56/SF
− Vacancy
−$1.7K −$1.10/SF
EGI
$29.5K $18.46/SF
− OpEx
−$13.3K −$8.31/SF
NOI
$16.2K $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%
$324,160
Cap Rate 7%
$231,543
Cap Rate 9%
$180,089
Alternative Uses
Best Use
Apartment 5plus
$231.5K
$202.6K – $270.1K
NOI $16,208 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.7K
$354.1K – $472.1K
NOI $28,327 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary unit with vaulted ceilings, updated bathrooms, and access to shared lake, pool, park, and walking paths.
Where is this residential income property located?
The property is located at 180 WOODLAKE DRIVE Marlton, NJ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Spacious contemporary upper‑level unit with vaulted ceiling; Second‑floor view overlooking the great room; Two updated bathrooms with newer vanities and flooring
