2-Bedroom Residential Income
New
For Sale
$215,000
1840 FRONTAGE E Unit 1401, Cherry Hill, NJ 08034
The condominium includes a private balcony, two walk-in closets, and access to shared recreation and building services.
Property Size1,196 SF
Days on Market2
Property Features for 1840 FRONTAGE E Unit 1401
General Information
Standard status
Active
Size
1,196 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,676
Amenities
outdoor pool
pickle ball
community room
full kitchen
on-site maintenance
doorman/concierge
24/7 security
balcony
Building Details
Building Size
1,196 SF
Year Built
1973
Listing Agency:
Epique Realty
Listed By:
Amy R Rossano · License #1862111
(856) 912-4192
Source:
Patmckennarealtors
Added: Oct 1
Last Checked: Oct 1 at 2:19PM
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 Epique Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 1-bath condominium was built in 1973 and features an open living area, a primary bedroom, and a second bedroom, each with a walk-in closet. A sliding door connects the unit to its balcony. The building provides doorman and concierge service, 24/7 security, and on-site maintenance. Shared facilities include an outdoor pool, pickleball, and a community room with a kitchen. Resident activities include bingo, book club gatherings, and group meal outings.
The property is in Cherry Hill, with access to Route 70, Route 295, central Philadelphia, and the New Jersey Turnpike. Condominium fees cover utilities other than cable and quarterly sewer service.
The property is in Cherry Hill, with access to Route 70, Route 295, central Philadelphia, and the New Jersey Turnpike. Condominium fees cover utilities other than cable and quarterly sewer service.
Key Highlights
- 2‑bedroom, 1‑bath condominium with an open living area
- Both bedrooms have walk‑in closets; unit includes a balcony
- Building has doorman and concierge service, 24/7 security, and on‑site maintenance
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
$18,392
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
8.55%
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%
$367,840
$367.8K
Cap Rate 7%
$262,743
$262.7K
Cap Rate 9%
$204,356
$204.4K
Market Conditions
NOI Build-Up for 1,196 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
$35.9K $30.00/SF
− Vacancy
−$2.4K −$2.04/SF
EGI
$33.4K $27.96/SF
− OpEx
−$15.0K −$12.58/SF
NOI
$18.4K $15.38/SF
Area
Bergen 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%
$367,840
Cap Rate 7%
$262,743
Cap Rate 9%
$204,356
Alternative Uses
Best Use
Apartment 5plus
$262.7K
$229.9K – $306.5K
NOI $18,392 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.3K
$273.3K – $364.4K
NOI $21,861 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 08034, NJ
19,256
Population
8,108
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
5.9 sq mi
ZIP Area
3,264
Density / Sq Mi
$111,244
Median Household Income
$56,792
Median Earnings
$1,707
Median Rent
$335,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium includes a private balcony, two walk-in closets, and access to shared recreation and building services.
Where is this residential income property located?
The property is located at 1840 FRONTAGE E Unit 1401 Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath condominium with an open living area; Both bedrooms have walk‑in closets; unit includes a balcony; Building has doorman and concierge service, 24/7 security, and on‑site maintenance
