Historic Multifamily Building in
For Sale
$999,999
212 Warren St, Beverly, NJ 08010
Six-unit residential building with renovated apartments and parking.
Property Size4,134 SF
Price / SF$241.90
Days on Market200
Property Features for 212 Warren St
General Information
Standard status
Active
Size
4,134 SF
Building Details
Year Built
1900
Listing Agency:
HomeSmart First Advantage Realty
Listed By:
Natalie Schanne · License #1647304
(609) 325-1705
Source:
Soldbypattie
Added: Mar 5
Changed: Sep 20
Last Checked: Sep 20 at 10:01AM
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 HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This historic, six-unit residential multifamily building is located in Beverly, New Jersey, minutes from the Beverly-Edgewater Park River LINE train stop and the Delaware River. The property features three one-bedroom units and three two-bedroom units. Four of the units have been recently renovated. The renovated one- and two-bedroom apartments are available to tour and are offered for rent. The apartments feature hardwood floors, over eight-foot ceilings, and air conditioning. The living rooms are spacious and bright, with large windows providing natural light. The renovated kitchens are equipped with new refrigerators and gas stove ovens, and the bathrooms have new vanities and fixtures. Some apartments include private elevated decks. The building is located in a vibrant, tree-lined neighborhood near downtown Beverly, with shops, restaurants, and parks nearby. Off-street parking spaces are available. The property offers a cash flow opportunity and the potential for passive income. The pro forma rent is $10,050 per month.
Key Highlights
- Cash flow opportunity: Multi‑family building with a pro forma rent of $10,050/month.
- 4 of the 6 units are recently renovated, including kitchens and bathrooms.
- Convenient location: Minutes from the Beverly - Edgewater Park River LINE Train Stop and downtown Beverly.
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
$54,146
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
5.41%
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%
$1,082,920
$1.1M
Cap Rate 7%
$773,514
$773.5K
Cap Rate 9%
$601,622
$601.6K
Market Conditions
NOI Build-Up for 4,134 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
$104.2K $25.20/SF
− Vacancy
−$5.7K −$1.39/SF
EGI
$98.4K $23.81/SF
− OpEx
−$44.3K −$10.72/SF
NOI
$54.1K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,082,920
Cap Rate 7%
$773,514
Cap Rate 9%
$601,622
Alternative Uses
Best Use
Apartment 5plus
$773.5K
$676.8K – $902.4K
NOI $54,146 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.65M
$7.57M – $10.09M
NOI $605,233 @ 7.0% cap · market cap 60.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 08010, NJ
11,555
Population
4,995
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
95%
High-School Grad
3.6 sq mi
ZIP Area
3,210
Density / Sq Mi
$85,285
Median Household Income
$48,077
Median Earnings
$1,472
Median Rent
$227,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit residential building with renovated apartments and parking.
Where is this apartment building located?
The property is located at 212 Warren St Beverly, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Cash flow opportunity: Multi‑family building with a pro forma rent of $10,050/month.; 4 of the 6 units are recently renovated, including kitchens and bathrooms.; Convenient location: Minutes from the Beverly - Edgewater Park River LINE Train Stop and downtown Beverly.
