Building Details

Year built 1876

Number of units 3

Building materials Frame

Architectural style Victorian

Listing Agency: Coldwell Banker Realty · Coldwell Banker Real Estate j***@cbpref.com Show Phone

Listed By: Patricia Blosfelds · License #1756223 Show Phone

Added: Aug 29 Changed: Oct 8 Last Checked: Oct 14 at 6:06PM

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MLS# NJBL2119524

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 4,009-square-foot triplex includes a renovated three-story Victorian residence and two apartments. The residence has three bedrooms, two additional finished third-floor rooms, a renovated full bath, and a kitchen with shaker cabinetry, quartz countertops, and stainless steel appliances. A new HVAC system with central air serves the first and second floors. The first-floor apartment is vacant and has one bedroom and its own laundry; the second- and third-floor apartment is occupied under a lease through the end of 2027.

The property includes a 0.1721-acre lot and a separate 50-by-150-foot lot for off-street parking. Both apartments have basement storage.

Key Highlights

• 4,009 square feet across a three‑unit residential property
• Three‑story Victorian residence with three bedrooms and two finished third‑floor rooms
• Vacant first‑floor apartment has one bedroom and private laundry

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 (±1% cap)

NOI $57,452 @ 7.0% cap · market cap 8.27%

Second Best

Apartment 5plus

$750.1K

$656.4K – $875.2K (±1% cap)

NOI $52,509 @ 7.0% cap · market cap 7.56%

Theoretical Best

Warehouse

$8.38M

$7.34M – $9.78M (±1% cap)

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

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office (Bike/Boat/Book/etc) Store Daycare Center Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units combine a renovated three-story home with two apartments, including a vacant one-bedroom unit.

Where is this triplex located?

The property is located at 305-307 LECONEY Avenue 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 feet across a three‑unit residential property; Three‑story Victorian residence with three bedrooms and two finished third‑floor rooms; Vacant first‑floor apartment has one bedroom and private laundry