Triplex with Newer
New
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 Market2
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:
360
Added: Sep 4
Last Checked: Sep 4 at 2:07PM
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
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 = 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
$29,594
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
9.11%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
