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    Quadplex with Private Entries Title is generated by Realmo AI

    315 State Street, Blackwood, NJ 08012

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    For Sale
    $624,900

    Four residential units with separate kitchens and private entrances, plus two-car attached and detached garages.

    Type:Multi-Family / Fee Simple
    Property size:
    4,514 SF
    Price / SF:
    $138/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 5:11 am

    Property Features for 315 State Street

    General Information

    Standard status
    Active
    Size
    4,514 SF
    Property subtype
    Multi-Family / Fee Simple

    Building Details

    Year Built
    1966

    We can help!

    Listing Contact
    Dana Grigore

    Listing agent Dana Grigore License #1434642

    Listing office HomeSmart First Advantage Realty

    Listing date Jun 2, 2026

    Source Compass

    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 HomeSmart First Advantage Realty

    HighLights

    • Four residential units total: 3‑bedroom/1.5‑bath main home plus three additional 2BR/1BA units, each with its own kitchen and private entry
    • Approx. 4,500 sq ft total living space across all units for flexible extended‑family or blended‑family living
    • Main home includes living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement
    • HVAC updates: main home HVAC recently updated; Apartments 1 and 2 share HVAC with the main home, while Apartment 3 uses C/A and electric heat
    • Parking and garages: attached 2‑car garage, plus additional 2‑car detached garage with dedicated electric and loads of parking
    • Large fenced yard with 2+ access exits; no pool

    Overview

    This quadplex offers a total of about 4,500 square feet of living space with four separate units. The 3-bedroom, 1.5-bath main home includes a living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement. The HVAC was recently updated in the main home. Three additional apartments each have their own kitchen and private entry: Apartment 1 includes kitchen and living room with back door entry; Apartment 2 is above the garage with kitchen and living room and includes a washer/dryer; Apartment 3 is next to a sliding glass door on the main home with kitchen and living room, and it has C/A and electric heat. Apartments 1 and 2 share HVAC with the main home, while utility costs are shared among all units.

    The property includes an attached 2-car garage and an additional 2-car detached garage with dedicated electric, along with parking for everyone. A large fenced yard supports outdoor use, and the home is described as convenient to major highways, shopping areas, and eateries, all set on a private lot in a quiet neighborhood.

    Designed for flexible living arrangements, this layout can work well for multi-generational households seeking separate spaces while keeping a single property footprint. Buyers also have the option to consider the setup for family-only income opportunities, depending on how they plan to occupy and use the units.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $77.5k $17.16
    − Vacancy −$4.1k −$0.91
    EGI $73.3k $16.25
    − OpEx −$22.0k −$4.87
    NOI $51.3k $11.37
    4,514 SF · lease $17.16/SF/yr · vacancy 5.32% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $733.4K
    $641.7K – $855.6K (±1% cap)
    NOI $51,338 @ 7.0% cap · market cap 8.22%
    Second Best
    Apartment 5plus
    $654.9K
    $573.0K – $764.0K (±1% cap)
    NOI $45,842 @ 7.0% cap · market cap 7.34%
    Theoretical Best
    Office A
    $1.14M
    $1.00M – $1.34M (±1% cap)
    NOI $80,118 @ 7.0% cap · market cap 12.82%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Blackwood
    County
    Camden
    State
    New Jersey
    Longitude
    -75.0540603
    Latitude
    39.7960229

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    FAQs

    What type of property is this?
    Quadplex - Four residential units with separate kitchens and private entrances, plus two-car attached and detached garages.
    Where is this quadplex located?
    The property is located at 315 State Street Blackwood, NJ.
    What is the asking price?
    The asking price for this property is $624,900.
    What are key features of this property?
    This property features: Four residential units total: 3‑bedroom/1.5‑bath main home plus three additional 2BR/1BA units, each with its own kitchen and private entry; Approx. 4,500 sq ft total living space across all units for flexible extended‑family or blended‑family living; Main home includes living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement
    (609) 760-4323
    We can help!
    Listing Contact
    Dana Grigore
    Real Estate License ID: 1434642
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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