Top-Floor Residential Income
For Sale
$279,999
222 BOOTHBY COURT, Sewell, NJ 08080
Renovated condo residence with a loft, soaring ceilings, and newly installed HVAC and laundry appliances.
Property Size1,436 SF
Days on Market18
Property Features for 222 BOOTHBY COURT
General Information
Standard status
Active
Size
1,436 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA + loft
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,141
Building Details
Building Size
1,436 SF
Year Built
1985
Listing Agency:
Prime Realty Partners
(267) 205-1824
Listed By:
John Rinick · License #1865546
(267) 205-1824
Source:
Patmckennarealtors
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 10:22PM
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 Prime Realty Partners
Investment Insights
Based on property information with market context.
This top-floor condominium at 222 Boothby Court offers two bedrooms, two full bathrooms, and a loft arranged above the main living area. The interior includes a spacious living room, soaring ceilings, recessed lighting, and a kitchen equipped with upgraded appliances. The loft can accommodate office, exercise, or additional living use. The residence was renovated within the last 5-7 years and includes a brand-new HVAC system and brand-new washer and dryer.
The primary suite has a walk-in closet and private full bathroom. Built in 1985, the property is located in The Hunt Club community in Washington Township, with the address listed in Sewell, New Jersey.
The primary suite has a walk-in closet and private full bathroom. Built in 1985, the property is located in The Hunt Club community in Washington Township, with the address listed in Sewell, New Jersey.
Key Highlights
- Top‑floor condo with 2 bedrooms, 2 full bathrooms, and a loft
- Renovated within the last 5‑7 years
- Brand‑new HVAC system and washer and dryer
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
$16,784
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
5.99%
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%
$335,680
$335.7K
Cap Rate 7%
$239,771
$239.8K
Cap Rate 9%
$186,489
$186.5K
Market Conditions
NOI Build-Up for 1,436 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
$32.4K $22.56/SF
− Vacancy
−$1.9K −$1.31/SF
EGI
$30.5K $21.25/SF
− OpEx
−$13.7K −$9.56/SF
NOI
$16.8K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /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%
$335,680
Cap Rate 7%
$239,771
Cap Rate 9%
$186,489
Alternative Uses
Best Use
Apartment 5plus
$239.8K
$209.8K – $279.7K
NOI $16,784 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.7K
$422.4K – $563.2K
NOI $33,789 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 08080, NJ
37,942
Population
14,746
Households
2.6
Avg Household Size
43
Median Age
44%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
1,299
Density / Sq Mi
$119,919
Median Household Income
$61,474
Median Earnings
$1,674
Median Rent
$330,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condo residence with a loft, soaring ceilings, and newly installed HVAC and laundry appliances.
Where is this residential income property located?
The property is located at 222 BOOTHBY COURT Sewell, NJ.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: Top‑floor condo with 2 bedrooms, 2 full bathrooms, and a loft; Renovated within the last 5‑7 years; Brand‑new HVAC system and washer and dryer
