Mixed-Use Property with 4
For Sale
$550,000
3400 Cove, Merchantville, NJ 08109
Four occupied units combine residential apartments with street-level commercial space.
Property Size4,500 SF
Price / SF$122.22
Days on Market50
Property Features for 3400 Cove
General Information
Standard status
Active
Size
4,500 SF
Occupancy
100%
Building Details
Year Built
2020
Tenancy
Multi
Listing Agency:
Real Broker, LLC
Listed By:
Alessandro Falcao, Alessandro Falcao · License #0571693
(855) 450-0442
Source:
Soldbypattie
Added: Aug 26
Changed: Oct 13
Last Checked: Oct 7 at 5:27PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 2020, this 4,500-square-foot mixed-use property contains four separate units: three residential apartments and one street-level commercial space. The residential layout includes one 3-bedroom apartment and two 2-bedroom apartments, with finished attic areas providing additional usable room in two units. The commercial unit has a private half bath and is currently operating as a barber shop.
All four units are occupied, including the commercial space’s established tenant. The property places residential and commercial occupancy under one ownership, with access to major roadways, shopping, and public transportation. Its setting near Merchantville and Pennsauken also connects with employment centers in South Jersey and Philadelphia.
All four units are occupied, including the commercial space’s established tenant. The property places residential and commercial occupancy under one ownership, with access to major roadways, shopping, and public transportation. Its setting near Merchantville and Pennsauken also connects with employment centers in South Jersey and Philadelphia.
Key Highlights
- Four occupied units: three residential apartments and one street‑level commercial space
- 4,500‑square‑foot mixed‑use property built in 2020
- Residential mix includes one 3‑bedroom unit and two 2‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,081
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,620
$941.6K
Cap Rate 7%
$672,586
$672.6K
Cap Rate 9%
$523,122
$523.1K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$81.0K $18.00/SF
− Vacancy
−$5.7K −$1.26/SF
EGI
$75.3K $16.74/SF
− OpEx
−$28.2K −$6.28/SF
NOI
$47.1K $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%
$941,620
Cap Rate 7%
$672,586
Cap Rate 9%
$523,122
Alternative Uses
Best Use
Multifamily LT 5
$731.1K
$639.7K – $853.0K
NOI $51,178 @ 7.0% cap · market cap 9.31%
Second Best
Mixed Use
$672.6K
$588.5K – $784.7K
NOI $47,081 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$1.14M
$998.4K – $1.33M
NOI $79,870 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 08109, NJ
23,306
Population
9,314
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,855
Density / Sq Mi
$84,332
Median Household Income
$44,288
Median Earnings
$1,142
Median Rent
$227,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four occupied units combine residential apartments with street-level commercial space.
Where is this mixed-use property located?
The property is located at 3400 Cove Merchantville, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four occupied units: three residential apartments and one street‑level commercial space; 4,500‑square‑foot mixed‑use property built in 2020; Residential mix includes one 3‑bedroom unit and two 2‑bedroom units
