Ground-Floor Residential Income
For Sale
$170,000
40 TANSBORO ROAD Unit 6C, Berlin, NJ 08009
Vacant condominium unit offers low-maintenance occupancy with direct ground-level access.
Property Size727 SF
Days on Market71
Property Features for 40 TANSBORO ROAD Unit 6C
General Information
Standard status
Active
Size
727 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,642
Building Details
Building Size
727 SF
Year Built
1976
Listing Agency:
Opus Elite Real Estate of NJ, LLC
Listed By:
Valerie H Earley · License #9804714
(609) 254-4400
Source:
Brucerealty
Added: Jun 27
Changed: Sep 1
Last Checked: Sep 5 at 8:33AM
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 Opus Elite Real Estate of NJ, LLC
Investment Insights
Based on property information with market context.
This residential income property is a ground-floor condominium unit with one bedroom and one bathroom. The layout eliminates stair access, and the unit is vacant for a straightforward transition. A Certificate of Occupancy from Berlin is already in place. Constructed in 1976, the property is positioned for owner occupancy or rental use, as supported by its residential income classification.
The address provides access to White Horse Pike, local bus stops, the PATCO high-speed line, and Route 295. The property is in Berlin Borough and offers a compact residential format suited to buyers seeking an accessible unit or an addition to a rental portfolio.
The address provides access to White Horse Pike, local bus stops, the PATCO high-speed line, and Route 295. The property is in Berlin Borough and offers a compact residential format suited to buyers seeking an accessible unit or an addition to a rental portfolio.
Key Highlights
- 1 bedroom, 1 bathroom ground‑floor condominium unit
- No stairs required for access
- Vacant and ready for occupancy
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
$7,383
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
4.34%
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%
$147,660
$147.7K
Cap Rate 7%
$105,471
$105.5K
Cap Rate 9%
$82,033
$82.0K
Market Conditions
NOI Build-Up for 727 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
$14.2K $19.56/SF
− Vacancy
−$796 −$1.10/SF
EGI
$13.4K $18.46/SF
− OpEx
−$6.0K −$8.31/SF
NOI
$7.4K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
45.00%
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%
$147,660
Cap Rate 7%
$105,471
Cap Rate 9%
$82,033
Alternative Uses
Best Use
Apartment 5plus
$105.5K
$92.3K – $123.1K
NOI $7,383 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$184.3K
$161.3K – $215.1K
NOI $12,903 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 08009, NJ
13,885
Population
5,764
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
16.5 sq mi
ZIP Area
842
Density / Sq Mi
$101,964
Median Household Income
$52,767
Median Earnings
$1,392
Median Rent
$291,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant condominium unit offers low-maintenance occupancy with direct ground-level access.
Where is this residential income property located?
The property is located at 40 TANSBORO ROAD Unit 6C Berlin, NJ.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: 1 bedroom, 1 bathroom ground‑floor condominium unit; No stairs required for access; Vacant and ready for occupancy
