Restored Historic
For Sale
$695,000
Pending
305-307 LECONEY AVE, Palmyra, NJ 08065
Renovated owner’s residence paired with two apartments, basement storage, and off-street parking on an additional lot.
Property Size4,009 SF
Days on Market49
Property Features for 305-307 LECONEY AVE
General Information
Standard status
Pending
Size
4,009 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1876
Buildings
1
Listing Agency:
Coldwell Banker Realty
(856) 235-0101
Listed By:
Patricia Blosfelds · License #1756223
(856) 816-1684
Source:
Keygroupmd
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 26 at 3:59PM
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 Coldwell Banker Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,009-square-foot triplex at 305-307 Leconey Avenue combines a renovated owner’s residence with two rental apartments beneath a slate roof. Built in 1876, the property retains original millwork, a transom window, decorative fireplace, wide-plank flooring, and an enclosed front porch. The primary residence includes a new kitchen with shaker cabinetry, quartz counters, and stainless steel appliances, along with three bedrooms, a renovated full bath, and two finished third-floor rooms. A new HVAC system with central air serves the first and second floors.
The first-floor apartment is occupied month-to-month, while the second- and third-floor apartment is leased through the end of 2027. Each rental unit has full basement storage; laundry is located in the first-floor apartment and in the basement for the upper unit. The sale also includes a 50x150 lot used for tenant off-street parking.
The first-floor apartment is occupied month-to-month, while the second- and third-floor apartment is leased through the end of 2027. Each rental unit has full basement storage; laundry is located in the first-floor apartment and in the basement for the upper unit. The sale also includes a 50x150 lot used for tenant off-street parking.
Key Highlights
- 4,009‑square‑foot triplex built in 1876
- Renovated owner’s residence with 3 bedrooms, finished third‑floor rooms, and a new kitchen
- Two rental apartments with separate laundry arrangements and full basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,452
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,149,040
$1.1M
Cap Rate 7%
$820,743
$820.7K
Cap Rate 9%
$638,356
$638.4K
Market Conditions
NOI Build-Up for 4,009 SF
Gross rent
$86.6K $21.60/SF
− Vacancy
−$4.5K −$1.13/SF
EGI
$82.1K $20.47/SF
− OpEx
−$24.6K −$6.14/SF
NOI
$57.5K $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%
$1,149,040
Cap Rate 7%
$820,743
Cap Rate 9%
$638,356
Alternative Uses
Best Use
Multifamily LT 5
$820.7K
$718.2K – $957.5K
NOI $57,452 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$750.1K
$656.4K – $875.2K
NOI $52,509 @ 7.0% cap · market cap 7.56%
Theoretical Best
Warehouse
$8.38M
$7.34M – $9.78M
NOI $586,932 @ 7.0% cap · market cap 84.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 08065, NJ
7,438
Population
3,406
Households
2.2
Avg Household Size
42
Median Age
30%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,132
Density / Sq Mi
$85,014
Median Household Income
$51,085
Median Earnings
$1,680
Median Rent
$216,600
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
Frequently Asked Questions
What type of property is this?
Triplex - Renovated owner’s residence paired with two apartments, basement storage, and off-street parking on an additional lot.
Where is this triplex located?
The property is located at 305-307 LECONEY AVE Palmyra, NJ.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4,009‑square‑foot triplex built in 1876; Renovated owner’s residence with 3 bedrooms, finished third‑floor rooms, and a new kitchen; Two rental apartments with separate laundry arrangements and full basement storage
