Four-Unit Downtown
New
For Sale
$440,000
603 PARK AVENUE, Collingswood, NJ 08108
Two adjacent duplexes provide separate living units, on-site parking, shared laundry, and access to downtown amenities and PATCO.
Property Size2,079 SF
Price / SF$211.64
Days on Market7
Property Features for 603 PARK AVENUE
General Information
Standard status
Active
Size
2,079 SF
Property subtype
Duplex
Building Details
Year Built
1915
Listing Agency:
Compass New Jersey, LLC - Moorestown
(609) 744-3112
Listed By:
Erin K Finazzo · License #345198
(609) 744-3112
Source:
Cummingsrealtors
Added: Aug 10
Changed: Aug 16
Last Checked: Aug 16 at 6:54AM
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 Compass New Jersey, LLC - Moorestown
Investment Insights
Based on property information with market context.
This offering combines 601 and 603 Park Avenue as a four-unit residential income property in downtown Collingswood. Each address contains a duplex, with one-bedroom, one-bath accommodations on the first level and larger upper-level units configured with three to four bedrooms and two or one-and-a-half baths. The 603 property also includes a two-car garage that is leased separately. Both buildings provide shared basement laundry, on-site parking for all four units, updated electrical panels, and service upgrades from the street to each house.
Three of the four occupants have maintained tenancies for more than five years, as has the garage leaseholder. The properties carry duplex certifications from Collingswood Township and current state-required lead paint certifications. The location is near PATCO, Knight Park, Haddon Avenue shops and restaurants, the farmers market, and Cooper River. Showings require 24-hour notice.
Three of the four occupants have maintained tenancies for more than five years, as has the garage leaseholder. The properties carry duplex certifications from Collingswood Township and current state-required lead paint certifications. The location is near PATCO, Knight Park, Haddon Avenue shops and restaurants, the farmers market, and Cooper River. Showings require 24-hour notice.
Key Highlights
- Two adjacent duplexes combine for 4 residential units
- 601 Park Avenue includes 1‑bedroom and 3/4‑bedroom units
- 603 Park Avenue includes 1‑bedroom and 3/4‑bedroom units plus a 2‑car garage
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
$23,644
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
5.37%
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%
$472,880
$472.9K
Cap Rate 7%
$337,771
$337.8K
Cap Rate 9%
$262,711
$262.7K
Market Conditions
NOI Build-Up for 2,079 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
$35.7K $17.16/SF
− Vacancy
−$1.9K −$0.91/SF
EGI
$33.8K $16.25/SF
− OpEx
−$10.1K −$4.87/SF
NOI
$23.6K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$472,880
Cap Rate 7%
$337,771
Cap Rate 9%
$262,711
Alternative Uses
Best Use
Multifamily LT 5
$337.8K
$295.6K – $394.1K
NOI $23,644 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$301.6K
$263.9K – $351.9K
NOI $21,113 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$527.1K
$461.3K – $615.0K
NOI $36,900 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 08108, NJ
18,618
Population
9,173
Households
2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
2.7 sq mi
ZIP Area
6,896
Density / Sq Mi
$107,764
Median Household Income
$70,887
Median Earnings
$1,680
Median Rent
$358,100
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 - Two adjacent duplexes provide separate living units, on-site parking, shared laundry, and access to downtown amenities and PATCO.
Where is this quadplex located?
The property is located at 603 PARK AVENUE Collingswood, NJ.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two adjacent duplexes combine for 4 residential units; 601 Park Avenue includes 1‑bedroom and 3/4‑bedroom units; 603 Park Avenue includes 1‑bedroom and 3/4‑bedroom units plus a 2‑car garage
