Mixed-Use Property with Two
For Sale
$299,900
517 WHITE HORSE PIKE, Haddon Heights, NJ 08035
Two-level layout combines a first-floor business space with an apartment and potential single-family residential use.
Property Size750 SF
Days on Market88
Property Features for 517 WHITE HORSE PIKE
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,634
Amenities
wraparound front porch
Building Details
Building Size
750 SF
Year Built
1925
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams - Main Street
(856) 470-7425
Listed By:
George J Kelly · License #1224263
(856) 470-7425
Source:
Patmckennarealtors
Added: May 14
Changed: Aug 7
Last Checked: Aug 9 at 11:55AM
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 - Main Street
Investment Insights
Based on property information with market context.
Built in 1925, this mixed-use property includes a business area on the first floor and a rental apartment above. Separate kitchens on each level support the existing configuration, while the interior includes updated finishes and bright, functional rooms. The property may also be adapted for use as a single-family home, providing flexibility for residential or owner-occupant needs.
Exterior features include a wraparound front porch and private driveway parking. The property is located in Haddon Heights, within the Haddon Heights school district, with local shops, restaurants, major highways, and Philadelphia described as minutes away.
Exterior features include a wraparound front porch and private driveway parking. The property is located in Haddon Heights, within the Haddon Heights school district, with local shops, restaurants, major highways, and Philadelphia described as minutes away.
Key Highlights
- First‑floor business space with second‑floor rental apartment
- Kitchens located on both levels
- Potential for single‑family residential use
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
$10,524
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
3.51%
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%
$210,480
$210.5K
Cap Rate 7%
$150,343
$150.3K
Cap Rate 9%
$116,933
$116.9K
Market Conditions
NOI Build-Up for 750 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
$16.5K $21.96/SF
− Vacancy
−$2.4K −$3.25/SF
EGI
$14.0K $18.71/SF
− OpEx
−$3.5K −$4.68/SF
NOI
$10.5K $14.03/SF
Area
Camden County, NJ
Vacancy
14.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$210,480
Cap Rate 7%
$150,343
Cap Rate 9%
$116,933
Alternative Uses
Best Use
Office B
$150.3K
$131.6K – $175.4K
NOI $10,524 @ 7.0% cap · market cap 3.51%
Second Best
Mixed Use
$112.1K
$98.1K – $130.8K
NOI $7,847 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$190.2K
$166.4K – $221.9K
NOI $13,312 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 08035, NJ
7,556
Population
3,326
Households
2.3
Avg Household Size
43
Median Age
55%
College-Educated
96%
High-School Grad
1.6 sq mi
ZIP Area
4,723
Density / Sq Mi
$124,592
Median Household Income
$68,750
Median Earnings
$1,179
Median Rent
$353,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout combines a first-floor business space with an apartment and potential single-family residential use.
Where is this mixed-use property located?
The property is located at 517 WHITE HORSE PIKE Haddon Heights, NJ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: First‑floor business space with second‑floor rental apartment; Kitchens located on both levels; Potential for single‑family residential use
