Six-Unit Apartment
For Sale
$850,000
443 LANDING ST, Lumberton, NJ 08048
Unit mix includes studios, one-bedroom, and two-bedroom apartments with Rancocas Creek views.
Property Size4,363 SF
Price / SF$194.82
Days on Market10
Property Features for 443 LANDING ST
General Information
Standard status
Active
Size
4,363 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR, 2 x 1BR, 2 x studio
Multifamily Units
6
Listing Agency:
Keller Williams Realty - Moorestown
(856) 297-6827
Listed By:
Samuel N Lepore · License #791411
(856) 297-6827
Source:
Lakehomesbyliz
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 25 at 9:51AM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
This apartment building contains six units in a varied configuration: two two-bedroom apartments, two one-bedroom apartments, and two studio apartments. The property is situated on a scenic lot with views across the Rancocas Creek.
Located at 443 Landing St in Lumberton, New Jersey, the property combines a creekside setting with access to area amenities. The six-unit layout provides a mix of apartment sizes within one multifamily asset.
Located at 443 Landing St in Lumberton, New Jersey, the property combines a creekside setting with access to area amenities. The six-unit layout provides a mix of apartment sizes within one multifamily asset.
Key Highlights
- Six total apartment units
- Unit mix includes two 2‑bedroom, two 1‑bedroom, and two studio apartments
- Views overlooking the Rancocas Creek
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
$57,145
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
6.72%
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%
$1,142,900
$1.1M
Cap Rate 7%
$816,357
$816.4K
Cap Rate 9%
$634,944
$634.9K
Market Conditions
NOI Build-Up for 4,363 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
$109.9K $25.20/SF
− Vacancy
−$6.0K −$1.39/SF
EGI
$103.9K $23.81/SF
− OpEx
−$46.8K −$10.72/SF
NOI
$57.1K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,142,900
Cap Rate 7%
$816,357
Cap Rate 9%
$634,944
Alternative Uses
Best Use
Apartment 5plus
$816.4K
$714.3K – $952.4K
NOI $57,145 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.13M
$7.98M – $10.65M
NOI $638,759 @ 7.0% cap · market cap 75.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 08048, NJ
12,782
Population
5,024
Households
2.5
Avg Household Size
41
Median Age
42%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
1,056
Density / Sq Mi
$111,739
Median Household Income
$58,097
Median Earnings
$1,667
Median Rent
$414,600
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?
Apartment building - Unit mix includes studios, one-bedroom, and two-bedroom apartments with Rancocas Creek views.
Where is this apartment building located?
The property is located at 443 LANDING ST Lumberton, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six total apartment units; Unit mix includes two 2‑bedroom, two 1‑bedroom, and two studio apartments; Views overlooking the Rancocas Creek
