Four-Unit
New
For Sale
$399,000
531 N 5th Street, Millville, NJ 08332
Multi-Family, Millville, NJ
Property Size2,881 SF
Lot Size0.14 Acres
Price / SF$138.49
Days on Market2
Property Features for 531 N 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 8, Bathroom 3, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 7, Bathroom 1
Basement
Crawl Space
Directions
E Broad St to N 5th Street
Standard status
Active
APN
10-00372-0000-00013
Size
2,881 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6157
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1927
Floors in Building
2
Number of units
4
Listing Agency:
Real Broker, LLC- Fairfield
(855) 450-0442
Listed By:
John Natale · License #278939
(855) 450-0442
Added: Aug 21
Last Checked: Aug 22 at 2:06AM
MLS# 22626231
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,881-square-foot quadplex contains four apartments, with each residence configured as two bedrooms and one bathroom. The property was built in 1927 and occupies a 0.14-acre lot, providing a compact multifamily layout for residential income use. Public water and public sewer serve the property.
Located at 531 N 5th Street in Millville, New Jersey, the building is positioned within the 08332 postal area of Cumberland County. All four apartments are rented, creating an existing occupancy profile for the next owner. The unit mix is consistent across the property, with a total of eight bedrooms and four bathrooms.
Located at 531 N 5th Street in Millville, New Jersey, the building is positioned within the 08332 postal area of Cumberland County. All four apartments are rented, creating an existing occupancy profile for the next owner. The unit mix is consistent across the property, with a total of eight bedrooms and four bathrooms.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,881 square feet on a 0.14‑acre lot
- Built in 1927
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
$34,491
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
8.64%
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%
$689,820
$689.8K
Cap Rate 7%
$492,729
$492.7K
Cap Rate 9%
$383,233
$383.2K
Market Conditions
NOI Build-Up for 2,881 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
$67.1K $23.28/SF
− Vacancy
−$4.4K −$1.51/SF
EGI
$62.7K $21.77/SF
− OpEx
−$28.2K −$9.80/SF
NOI
$34.5K $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%
$689,820
Cap Rate 7%
$492,729
Cap Rate 9%
$383,233
Alternative Uses
Best Use
Multifamily LT 5
$535.2K
$468.3K – $624.5K
NOI $37,467 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$492.7K
$431.1K – $574.9K
NOI $34,491 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,809 @ 7.0% cap · market cap 75.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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?
Quadplex - Four two-bedroom apartments offer a straightforward multifamily configuration with public utilities and established occupancy.
Where is this quadplex located?
The property is located at 531 N 5th Street Millville, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 2,881 square feet on a 0.14‑acre lot; Built in 1927
