Updated End-Unit Residential Income
For Sale
$350,000
6163 MAIN STREET, Voorhees, NJ 08043
Two-level condo with three bedrooms, attached baths, and a current lease extending through December 2026.
Property Size2,210 SF
Days on Market109
Property Features for 6163 MAIN STREET
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,047
Amenities
gas fireplace
eat-in kitchen
whirlpool tub
walk-in closet
Building Details
Building Size
2,210 SF
Year Built
1992
Listing Agency:
Tesla Realty Group LLC
Listed By:
Jae Jin Jesse Hwang · License #1004843
(609) 724-6267
Source:
Patmckennarealtors
Added: Jun 16
Changed: Oct 2
Last Checked: Oct 1 at 4:44PM
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 Tesla Realty Group LLC
Investment Insights
Based on property information with market context.
This end-unit residential income property is a two-story condominium built in 1992. The floor plan includes an open living area with a gas fireplace, an eat-in kitchen, and a main-level third bedroom with an attached full bathroom. Upstairs, the primary suite includes a private bath with a whirlpool tub, dual vanities, and a walk-in closet. The second upper-level bedroom also has an attached full bathroom.
Improvements include fresh paint completed in 2025 and a replacement HVAC system, cabinetry, granite countertops, hardwood flooring, tile, bathroom vanities, faucets, shower fixtures, lighting, and outlets updated in 2018. The property is located in Main Street condo in Voorhees Township, with access to on-site restaurants and a parking garage. The current lease is scheduled to expire in December 2026.
Improvements include fresh paint completed in 2025 and a replacement HVAC system, cabinetry, granite countertops, hardwood flooring, tile, bathroom vanities, faucets, shower fixtures, lighting, and outlets updated in 2018. The property is located in Main Street condo in Voorhees Township, with access to on-site restaurants and a parking garage. The current lease is scheduled to expire in December 2026.
Key Highlights
- End‑unit, two‑story condominium built in 1992
- Three‑bedroom layout with one bedroom on the main level
- Primary suite with whirlpool tub, dual vanities, and walk‑in closet
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
$22,444
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
6.41%
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%
$448,880
$448.9K
Cap Rate 7%
$320,629
$320.6K
Cap Rate 9%
$249,378
$249.4K
Market Conditions
NOI Build-Up for 2,210 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
$43.2K $19.56/SF
− Vacancy
−$2.4K −$1.10/SF
EGI
$40.8K $18.46/SF
− OpEx
−$18.4K −$8.31/SF
NOI
$22.4K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /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%
$448,880
Cap Rate 7%
$320,629
Cap Rate 9%
$249,378
Alternative Uses
Best Use
Apartment 5plus
$320.6K
$280.6K – $374.1K
NOI $22,444 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.4K
$490.3K – $653.8K
NOI $39,225 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 08043, NJ
31,069
Population
12,688
Households
2.4
Avg Household Size
43
Median Age
60%
College-Educated
96%
High-School Grad
11.5 sq mi
ZIP Area
2,702
Density / Sq Mi
$112,606
Median Household Income
$65,078
Median Earnings
$1,718
Median Rent
$390,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condo with three bedrooms, attached baths, and a current lease extending through December 2026.
Where is this residential income property located?
The property is located at 6163 MAIN STREET Voorhees, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: End‑unit, two‑story condominium built in 1992; Three‑bedroom layout with one bedroom on the main level; Primary suite with whirlpool tub, dual vanities, and walk‑in closet
