Triplex with Newer
For Sale
$325,000
422 N 5TH ST N, Millville, NJ 08332
Three occupied residential units offer an existing rental configuration.
Property Size2,472 SF
Price / SF$131.47
Days on Market47
Property Features for 422 N 5TH ST N
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
3
Listing Agency:
Balsley-Losco Realtors
(609) 646-3207
Listed By:
Danielle Casalunovo · License #455653
(609) 377-9731
Source:
Careyrealtygroup
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 19 at 6:15AM
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 Balsley-Losco Realtors
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Investment Insights
Based on property information with market context.
This triplex contains three residential units totaling 2,472 square feet. All units are currently rented, and the property includes newer mechanical systems. The sale is offered as-is, with the buyer responsible for obtaining any certificates required for purchase.
The property is located at 422 N 5TH ST N in Millville, New Jersey 08332. Its occupied three-unit configuration provides a straightforward multifamily asset with existing tenants in place.
The property is located at 422 N 5TH ST N in Millville, New Jersey 08332. Its occupied three-unit configuration provides a straightforward multifamily asset with existing tenants in place.
Key Highlights
- Three‑unit multifamily property totaling 2,472 square feet
- All units are currently rented
- Newer mechanical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,594
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,880
$591.9K
Cap Rate 7%
$422,771
$422.8K
Cap Rate 9%
$328,822
$328.8K
Market Conditions
NOI Build-Up for 2,472 SF
Gross rent
$57.5K $23.28/SF
− Vacancy
−$3.7K −$1.51/SF
EGI
$53.8K $21.77/SF
− OpEx
−$24.2K −$9.80/SF
NOI
$29.6K $11.97/SF
Area
Cumberland County, NJ
Vacancy
6.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,880
Cap Rate 7%
$422,771
Cap Rate 9%
$328,822
Alternative Uses
Best Use
Multifamily LT 5
$459.3K
$401.9K – $535.8K
NOI $32,148 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$422.8K
$369.9K – $493.2K
NOI $29,594 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$3.71M
$3.25M – $4.33M
NOI $259,821 @ 7.0% cap · market cap 79.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
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
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residential units offer an existing rental configuration.
Where is this triplex located?
The property is located at 422 N 5TH ST N Millville, NJ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 2,472 square feet; All units are currently rented; Newer mechanical systems
