Mixed-Use Property with Apartment
For Sale
$400,000
2709 Westfield Ave, Camden, NJ 08105
Two adjacent buildings offer occupied 1BD/1BTH apartments plus a vacant commercial space and a small fenced backyard.
Property Size2,400 SF
Price / SF$166.67
Days on Market128
Property Features for 2709 Westfield Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
7
Building Details
Year Built
1900
Listing Agency:
Keller Williams - Main Street
Listed By:
Patrick M Gorman · License #0340986
(856) 200-8320
Source:
Bernadetteaugello
Added: Jun 30
Changed: Oct 26
Last Checked: Oct 7 at 1:08PM
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 - Main Street
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Investment Insights
Based on property information with market context.
This mixed-use offering includes two adjacent buildings with apartment and commercial components. 2709 Westfield Avenue features four 1BD/1BTH apartments, with three currently occupied. Unit D includes basement access.
2707 Westfield Avenue includes a commercial space that is currently vacant. The space was last occupied by a vape shop and is paired with three 1BD/1BTH apartments, all of which are currently rented. The property also offers a small fenced backyard.
The seller notes the buildings may be purchased separately or as a package.
2707 Westfield Avenue includes a commercial space that is currently vacant. The space was last occupied by a vape shop and is paired with three 1BD/1BTH apartments, all of which are currently rented. The property also offers a small fenced backyard.
The seller notes the buildings may be purchased separately or as a package.
Key Highlights
- Two adjacent buildings with a mix of occupied 1BD/1BTH apartments and a vacant commercial space
- Building at 2709 Westfield: four 1BD/1BTH apartments; three currently occupied and Unit D has basement access
- Building at 2707 Westfield: commercial space (currently vacant) plus three 1BD/1BTH apartments; all three currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,110
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,200
$502.2K
Cap Rate 7%
$358,714
$358.7K
Cap Rate 9%
$279,000
$279.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$43.2K $18.00/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$40.2K $16.74/SF
− OpEx
−$15.1K −$6.28/SF
NOI
$25.1K $10.46/SF
Area
Camden County, NJ
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,200
Cap Rate 7%
$358,714
Cap Rate 9%
$279,000
Alternative Uses
Best Use
Mixed Use
$358.7K
$313.9K – $418.5K
NOI $25,110 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,373 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$608.5K
$532.5K – $710.0K
NOI $42,597 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 08105, NJ
26,572
Population
8,681
Households
3.1
Avg Household Size
31
Median Age
8%
College-Educated
63%
High-School Grad
2.6 sq mi
ZIP Area
10,220
Density / Sq Mi
$48,319
Median Household Income
$31,173
Median Earnings
$1,215
Median Rent
$113,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent buildings offer occupied 1BD/1BTH apartments plus a vacant commercial space and a small fenced backyard.
Where is this mixed-use property located?
The property is located at 2709 Westfield Ave Camden, NJ.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two adjacent buildings with a mix of occupied 1BD/1BTH apartments and a vacant commercial space; Building at 2709 Westfield: four 1BD/1BTH apartments; three currently occupied and Unit D has basement access; Building at 2707 Westfield: commercial space (currently vacant) plus three 1BD/1BTH apartments; all three currently rented
