Building Details

Building Size 7,500 SF

Year Built 1969

Listing Agency: HomeSmart First Advantage Realty

Listed By: Hakan Karahan · License #9693664 Show Phone

Source: Brucerealty

Added: Sep 20 Changed: Sep 23 Last Checked: Sep 24 at 6:43PM

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Investment Insights

Based on property information with market context.

This mixed-use property combines a first-floor commercial area with two occupied apartments and a separate rented garage. The larger residence includes three bedrooms and two full bathrooms, while the second offers two bedrooms and one full bathroom. Each apartment also has a living room and kitchen. The building was constructed in 1969 and has been recently updated.

Located along Black Horse Pike in Glendora, New Jersey, the property includes approximately 10 on-site parking spaces serving the commercial and residential components. The commercial space, apartments, and garage are all occupied, creating a diversified configuration with commercial, residential, and accessory rental components under one ownership.

Key Highlights

• Fully occupied mixed‑use property with commercial, residential, and garage components
• Two apartments: one with 3 bedrooms and 2 full bathrooms; one with 2 bedrooms and 1 full bathroom
• Separate garage is currently rented

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

$78,469

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

7.89%

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%

$1,569,380 $1.6M

Cap Rate 7%

$1,120,986 $1.1M

Cap Rate 9%

$871,878 $871.9K

Market Conditions

NOI Build-Up for 7,500 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

$135.0K $18.00/SF

− Vacancy

−$9.5K −$1.26/SF

EGI

$125.6K $16.74/SF

− OpEx

−$47.1K −$6.28/SF

NOI

$78.5K $10.46/SF

Area

Camden County, NJ

Vacancy

7.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

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%

$1,569,380

Cap Rate 7%

$1,120,986

Cap Rate 9%

$871,878

Alternative Uses

Best Use

Mixed Use

$1.12M

$980.9K – $1.31M (±1% cap)

NOI $78,469 @ 7.0% cap · market cap 7.89%

Second Best

Apartment 5plus

$1.09M

$952.1K – $1.27M (±1% cap)

NOI $76,167 @ 7.0% cap · market cap 7.65%

Theoretical Best

Office A

$1.90M

$1.66M – $2.22M (±1% cap)

NOI $133,116 @ 7.0% cap · market cap 13.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Parking Lot & Garage Daycare Center Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

374

Businesses Nearby

Explore this area Business Placement

Demographics for 08029, NJ

4,900

Population

2,217

Households

2.2

Avg Household Size

43

Median Age

25%

College-Educated

94%

High-School Grad

1.1 sq mi

ZIP Area

4,455

Density / Sq Mi

$95,038

Median Household Income

$50,658

Median Earnings

$782

Median Rent

$220,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes commercial space, two apartments, a rented garage, and on-site parking.

Where is this mixed-use property located?

The property is located at 500 BLACK HORSE PIKE Glendora, NJ.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Fully occupied mixed‑use property with commercial, residential, and garage components; Two apartments: one with 3 bedrooms and 2 full bathrooms; one with 2 bedrooms and 1 full bathroom; Separate garage is currently rented