Turnkey 7-Unit Rental
For Sale
$849,000
20 Franklin St, Bridgeton, NJ 08302
Excellent investment opportunity with recent upgrades and reliable tenants.
Property Size5,000 SF
Price / SF$169.80
Days on Market159
Property Features for 20 Franklin St
General Information
Standard status
Active
Size
5,000 SF
Building Details
Year Built
1966
Listing Agency:
Keller Williams Realty Monmouth/Ocean
(732) 942-5280
Listed By:
Efrayim Lax · License #1751383
Source:
Kandorre
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 30 at 8:56PM
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 Keller Williams Realty Monmouth/Ocean
Investment Insights
Based on property information with market context.
This is a 7-unit rental property presenting an investment opportunity. The property features a mix of unit sizes, including four one-bedroom units, two two-bedroom units, and one three-bedroom unit. Recent upgrades include a new high-efficiency boiler and a new hot water heater. Off-street parking is available. The property is currently turnkey with tenants.
Key Highlights
- Seven‑unit rental property offering a strong investment opportunity
- Recent upgrades include a new high‑efficiency boiler and hot water heater
- Turnkey property, ready for immediate operation
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
$59,859
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
7.05%
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%
$1,197,180
$1.2M
Cap Rate 7%
$855,129
$855.1K
Cap Rate 9%
$665,100
$665.1K
Market Conditions
NOI Build-Up for 5,000 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
$116.4K $23.28/SF
− Vacancy
−$7.6K −$1.51/SF
EGI
$108.8K $21.77/SF
− OpEx
−$49.0K −$9.80/SF
NOI
$59.9K $11.97/SF
Area
Cumberland County, NJ
Vacancy
6.50%
Lease Rate
$23.28 /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%
$1,197,180
Cap Rate 7%
$855,129
Cap Rate 9%
$665,100
Alternative Uses
Best Use
Apartment 5plus
$855.1K
$748.2K – $997.7K
NOI $59,859 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.51M
$6.57M – $8.76M
NOI $525,528 @ 7.0% cap · market cap 61.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 08302, NJ
47,826
Population
16,038
Households
3
Avg Household Size
36
Median Age
13%
College-Educated
77%
High-School Grad
142.6 sq mi
ZIP Area
335
Density / Sq Mi
$60,301
Median Household Income
$34,137
Median Earnings
$1,351
Median Rent
$202,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Excellent investment opportunity with recent upgrades and reliable tenants.
Where is this apartment building located?
The property is located at 20 Franklin St Bridgeton, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Seven‑unit rental property offering a strong investment opportunity; Recent upgrades include a new high‑efficiency boiler and hot water heater; Turnkey property, ready for immediate operation
