Tenant-Occupied
New
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 Market7
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 7
Changed: Sep 12
Last Checked: Sep 12 at 2:33PM
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
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 = 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
$22,929
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
6.55%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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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
