Tenant-Occupied
For Sale
$350,000
255 W UNION STREET, Burlington, NJ 08016
Two leased residential units provide an established occupancy profile with tenants in place.
Property Size1,600 SF
Price / SF$218.75
Days on Market50
Property Features for 255 W UNION STREET
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$32,232
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Ardhi Real Estate, LLC
(609) 200-1145
Listed By:
jacqueline anne sadler · License #2548936
(609) 647-9829
Source:
Cummingsrealtors
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 26 at 3:45PM
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 Ardhi Real Estate, LLC
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Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains two residential units within a 1,600-square-foot property constructed in 1900. Both units are leased under annual terms, and the existing tenancy will remain in place through the sale. The owner currently covers sewer service and building utilities.
The property is situated near downtown Burlington, with shopping, dining, the waterfront, major roadways, and public transportation nearby. Its two-unit configuration and established leases offer a straightforward small-scale multifamily profile.
The property is situated near downtown Burlington, with shopping, dining, the waterfront, major roadways, and public transportation nearby. Its two-unit configuration and established leases offer a straightforward small-scale multifamily profile.
Key Highlights
- Two‑unit duplex with both residences leased on annual terms
- Existing tenants remain in place through the sale
- 1,600 square feet of property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,929
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,580
$458.6K
Cap Rate 7%
$327,557
$327.6K
Cap Rate 9%
$254,767
$254.8K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$34.6K $21.60/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$32.8K $20.47/SF
− OpEx
−$9.8K −$6.14/SF
NOI
$22.9K $14.33/SF
Area
Burlington County, NJ
Vacancy
5.22%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,580
Cap Rate 7%
$327,557
Cap Rate 9%
$254,767
Alternative Uses
Best Use
Multifamily LT 5
$327.6K
$286.6K – $382.2K
NOI $22,929 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 5.99%
Theoretical Best
Warehouse
$3.35M
$2.93M – $3.90M
NOI $234,246 @ 7.0% cap · market cap 66.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
763
Businesses Nearby
Explore this area
Business Placement
Demographics for 08016, NJ
34,617
Population
13,842
Households
2.5
Avg Household Size
41
Median Age
34%
College-Educated
92%
High-School Grad
21.6 sq mi
ZIP Area
1,603
Density / Sq Mi
$92,560
Median Household Income
$49,919
Median Earnings
$1,343
Median Rent
$308,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residential units provide an established occupancy profile with tenants in place.
Where is this duplex located?
The property is located at 255 W UNION STREET Burlington, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased on annual terms; Existing tenants remain in place through the sale; 1,600 square feet of property area
