Turnkey 6-Unit Multifamily
For Sale
$890,000
724 Division Street, Trenton, NJ 08611
Turnkey six-unit multifamily building with five 1-bed units and one 2-bed unit, plus a currently rented parking lot.
Property Size4,905 SF
Price / SF$181.45
Days on Market316
Property Features for 724 Division Street
General Information
Standard status
Active
Size
4,905 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Additional Details
Cap Rate
9.1%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,108
Amenities
No Pool
Building Details
Year Built
1897
Listing Agency:
Century 21 Alliance-Moorestown
Listed By:
Andrei Essam Mounir Gayed · License #2447352
(609) 321-5893
Source:
Compass
Added: Oct 27, 2025
Changed: Aug 8
Last Checked: Jul 31 at 12:21PM
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 Century 21 Alliance-Moorestown
Investment Insights
Based on property information with market context.
724 Division Street is a turnkey 6-unit commercial/multifamily property with five 1 bed/1 bath units and one 2 bed/1 bath unit. The parking lot is currently rented, creating additional monthly income.
The property is located in Trenton, NJ within Mercer County, in the Trenton City MLS area. The listing notes Trenton Public Schools as the school district.
As presented in the remarks, the building is positioned as an income-producing investment with a stated in-place rent roll and expenses already reflected in the provided annual net income figures.
The property is located in Trenton, NJ within Mercer County, in the Trenton City MLS area. The listing notes Trenton Public Schools as the school district.
As presented in the remarks, the building is positioned as an income-producing investment with a stated in-place rent roll and expenses already reflected in the provided annual net income figures.
Key Highlights
- Turnkey 6‑unit commercial/multifamily in Trenton, NJ (Mercer County)
- Unit mix: five 1 bed/1 bath units and one 2 bed/1 bath unit
- Parking lot currently rented for $750/month
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
$74,863
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
8.41%
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%
$1,497,260
$1.5M
Cap Rate 7%
$1,069,471
$1.1M
Cap Rate 9%
$831,811
$831.8K
Market Conditions
NOI Build-Up for 4,905 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
$147.2K $30.00/SF
− Vacancy
−$11.0K −$2.25/SF
EGI
$136.1K $27.75/SF
− OpEx
−$61.3K −$12.49/SF
NOI
$74.9K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /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%
$1,497,260
Cap Rate 7%
$1,069,471
Cap Rate 9%
$831,811
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.8K – $1.25M
NOI $74,863 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,468 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 08611, NJ
31,531
Population
11,638
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
70%
High-School Grad
2.9 sq mi
ZIP Area
10,873
Density / Sq Mi
$50,806
Median Household Income
$29,185
Median Earnings
$1,300
Median Rent
$142,400
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?
Apartment building - Turnkey six-unit multifamily building with five 1-bed units and one 2-bed unit, plus a currently rented parking lot.
Where is this apartment building located?
The property is located at 724 Division Street Trenton, NJ.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Turnkey 6‑unit commercial/multifamily in Trenton, NJ (Mercer County); Unit mix: five 1 bed/1 bath units and one 2 bed/1 bath unit; Parking lot currently rented for $750/month
