Quadplex with Additional
For Sale
$899,900
871 Corkery Ln, Williamstown, NJ 08094
Fully occupied four-unit property on 10.2 cleared acres with a separate vacant building and established residential surroundings.
Property Size2,875 SF
Lot Size10.20 Acres
Price / SF$313.01
Days on Market33
Property Features for 871 Corkery Ln
General Information
Standard status
Active
Size
2,875 SF
Lot size
10.20 Acres
Building Details
Year Built
1950
Listing Agency:
BHHS Fox & Roach-Northfield
(609) 816-7644
Listed By:
Rajan Khullar · License #0673568
Source:
Kableteam
Added: Jul 27
Changed: Aug 27
Last Checked: Aug 28 at 12:53PM
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 BHHS Fox & Roach-Northfield
Investment Insights
Based on property information with market context.
This quadplex includes four residential units arranged as two one-bedroom apartments and two two-bedroom apartments. The units are occupied under month-to-month leases and have been maintained with a newer roof and water softener. A separate vacant building is also located on the property.
The parcel contains 10.2 cleared acres and is surrounded by established single-family housing. The property is near Philadelphia, Gloucester Premium Outlets, shopping, dining, and public transportation, combining existing residential occupancy with substantial land area and an additional structure.
The parcel contains 10.2 cleared acres and is surrounded by established single-family housing. The property is near Philadelphia, Gloucester Premium Outlets, shopping, dining, and public transportation, combining existing residential occupancy with substantial land area and an additional structure.
Key Highlights
- 10.2 cleared acres with a four‑unit residential property
- Unit mix includes two 1‑bedroom and two 2‑bedroom apartments
- All four units are occupied on month‑to‑month leases
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
$48,117
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
5.35%
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%
$962,340
$962.3K
Cap Rate 7%
$687,386
$687.4K
Cap Rate 9%
$534,633
$534.6K
Market Conditions
NOI Build-Up for 2,875 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
$73.5K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$68.7K $23.91/SF
− OpEx
−$20.6K −$7.17/SF
NOI
$48.1K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$962,340
Cap Rate 7%
$687,386
Cap Rate 9%
$534,633
Alternative Uses
Best Use
Multifamily LT 5
$687.4K
$601.5K – $802.0K
NOI $48,117 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$631.6K
$552.7K – $736.9K
NOI $44,212 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$750.7K
$656.9K – $875.8K
NOI $52,550 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 08094, NJ
40,774
Population
15,878
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
94%
High-School Grad
54.8 sq mi
ZIP Area
744
Density / Sq Mi
$92,125
Median Household Income
$52,681
Median Earnings
$1,420
Median Rent
$260,200
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 - Fully occupied four-unit property on 10.2 cleared acres with a separate vacant building and established residential surroundings.
Where is this quadplex located?
The property is located at 871 Corkery Ln Williamstown, NJ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 10.2 cleared acres with a four‑unit residential property; Unit mix includes two 1‑bedroom and two 2‑bedroom apartments; All four units are occupied on month‑to‑month leases
