MULLICA HILL, NJ 08062 Mullica Hill, NJ 08062
SINGLE_FAMILY - MULLICA HILL, NJ
- Added:
- Nov 25, 2024
- Days on Market:
- 592
- Last Refresh:
- Jul 10 at 10:06 pm
Property Features
General Information
- Property type
- Residential
- Property subtype
- Other
- Standard status
- Active
- Size
- 6,514 SF
Building Details
- Year built
- 1800
Listing agent Patricia Settar (856) 297-5790
Listing office BHHS Fox & Roach Mullica Hill NJ (856) 343-6000
Listing date Nov 25, 2024
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Investment Insights
Based on property information with market context.
Upstairs, the building includes three residential units with private access through a shared hallway or a covered deck. The second-floor apartment is approximately 745 square feet and includes a spacious living room, an updated bedroom, and a full bath with stall shower. A freshly updated studio apartment of about 745 square feet is currently used as a media room with a full bath, new carpeting, and fresh paint. The third-floor unit spans about 705 square feet with a bedroom, full bath, living room, dining area, kitchen, and a private deck. At the rear, there is also a private cottage and a two-story historic barn built in 1860, which is currently leased and includes three large open rooms, built-ins, and a professionally waterproofed basement, along with a metal roof and semi-split heating and air.
The property totals approximately 6,514 square feet on about 0.83 acres and is located within an active Main Street business corridor in Mullica Hill. Current leasing includes residential units and the barn/cottage, while the first-floor office is available for an owner-occupant or professional user seeking a self-contained workplace with direct porch access and client parking. The overall structure is positioned for tenants or investors looking for a combined professional space and diversified rental setup, with stated annual lease agreements totaling $103,800.
Key Highlights
- Fully rented income‑producing historic multi‑use property with annual lease agreements totaling $103,800/year
- 1,820 SF first‑floor professional office space available now; wide plank wood floors, built‑ins, kitchen, private offices, and conference rooms
- Upstairs includes 3 residential units with private access: 745 SF 2nd‑floor 1BR/1BA; 3rd‑floor 705 SF unit with deck; plus updated 2nd‑floor studio/media room
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.0k | $22.56 |
| − Vacancy | −$8.5k | −$1.31 |
| EGI | $138.4k | $21.25 |
| − OpEx | −$62.3k | −$9.56 |
| NOI | $76.1k | $11.69 |