Renovated Duplex with
For Sale
$449,999
36 W CEDAR AVENUE, Merchantville, NJ 08109
Three-level duplex with updated interiors, covered porches, rear decking, and a fenced backyard.
Property Size2,000 SF
Price / SF$224
Days on Market89
Property Features for 36 W CEDAR AVENUE
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,860
Amenities
covered front porch
covered back porch
Trex decking
fenced backyard
Building Details
Building Size
2,000 SF
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
HomeSmart First Advantage Realty
Listed By:
Natalie Schanne · License #1647304
(609) 325-1705
Source:
Patmckennarealtors
Added: Jun 26
Changed: Sep 21
Last Checked: Sep 21 at 8:08AM
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
Investment Insights
Based on property information with market context.
This 2,000-square-foot duplex spans three levels and includes a two-car garage, rear parking lot, large fenced backyard, front and back covered porches, and Trex decking. Unit A has one bedroom, 1.5 bathrooms, solid hardwood flooring, updated kitchen and bath finishes, central air, a gas furnace, and approximately 600 square feet of partially finished basement space with a utility room, laundry, and office or walk-in closet shelving. Unit B offers a three- to four-bedroom layout, one bathroom, refinished hardwood floors, updated kitchen and bathroom finishes, laundry, and a newer boiler installed in 2025.
The property is located at 36 W Cedar Avenue in Merchantville, near Blue Monkey Tavern, Town Hall, and other cultural amenities and attractions, with Cherry Hill minutes away. The property may be provided vacant, partially occupied, or fully occupied. Unit A is available intermittently for tours, with photos and video provided.
The property is located at 36 W Cedar Avenue in Merchantville, near Blue Monkey Tavern, Town Hall, and other cultural amenities and attractions, with Cherry Hill minutes away. The property may be provided vacant, partially occupied, or fully occupied. Unit A is available intermittently for tours, with photos and video provided.
Key Highlights
- 2,000‑square‑foot duplex across three levels
- Approximately 600‑square‑foot partially finished basement
- Two‑car garage, rear parking lot, and large fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,746
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,920
$454.9K
Cap Rate 7%
$324,943
$324.9K
Cap Rate 9%
$252,733
$252.7K
Market Conditions
NOI Build-Up for 2,000 SF
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.
Gross rent
$34.3K $17.16/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$32.5K $16.25/SF
− OpEx
−$9.7K −$4.87/SF
NOI
$22.7K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$454,920
Cap Rate 7%
$324,943
Cap Rate 9%
$252,733
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.1K
NOI $22,746 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$290.2K
$253.9K – $338.5K
NOI $20,311 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$507.1K
$443.7K – $591.6K
NOI $35,498 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
695
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
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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?
Duplex - Three-level duplex with updated interiors, covered porches, rear decking, and a fenced backyard.
Where is this duplex located?
The property is located at 36 W CEDAR AVENUE Merchantville, NJ.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: 2,000‑square‑foot duplex across three levels; Approximately 600‑square‑foot partially finished basement; Two‑car garage, rear parking lot, and large fenced backyard
