2624-2626 Federal St - Apartments FOR SALE


Camden, NJ 08105- Marlton
$1,000,000 USD
215-531-7028
2624-2626 Federal St, Camden, NJ for Sale
$1,000,000 USD
Apartments - FOR SALE
1/6
null | 8.42% Cap Rate

2624-2626 Federal St
Camden, NJ 08105
Marlton


HIGHLIGHTS

  • Newer Roof with 20 Years Remaining On Warranty
  • Updated Apartment Units
  • Qualified Opportunity Zone
  • Blocks to Public transit, Dining, Recreation, and Shopping
  • Five Miles to Center City Philadelphia

OVERVIEW

Marcus & Millichap is pleased to present 2624-2626 Federal St, a mixed-use property in the Marlton submarket of Camden, New Jersey. The property consists of nine one-bedroom apartments and two commercial spaces, one occupied by a convenience store and the other is soon to be an auto detailing office. The property is located just twenty-five minutes from Philadelphia International Airport and twenty minutes from Center City Philadelphia. The subject property is located just two miles from I-676, the direct route into Philadelphia, and two blocks away from the nearest public transit stop which runs to the Camden waterfront, surrounding suburbs, and Center City. The subject property is comprised of approximately 8,400 square feet, of which approximately 1,530 square feet is dedicated to the commercial spaces. The current convenience store lease is set to expire June 30, 2031, and the office lease is to expire July 15, 2025. The apartment units were renovated in 2019 and are fully occupied, each of which measures approximately 650 square feet. The building's roof was replaced in 2019 with a twenty-five year warranty included in the sale. The subject property's proximity to public transit and the city of Philadelphia make it affordable living option for young professionals travelling to and from the city on a daily basis. Though an affordable alternative to Philadelphia, this section of Federal St gives residents a similar "Main St" feel with plenty of retail and restaurant options within walking distance. The subject property also sits just a mile from both Farnham Park and Cramer Hill Waterfront Park, which are both waterfront parks open to the public.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

11

PRICE/UNIT

$90,909

CAP RATE

8.42%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1919

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

Commercial

APN/PARCEL ID

08-01168-0000-00018

ASK ABOUT THIS PROPERTY

Carson RooneyMarcus & MillichapMore Info
215-531-7028

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Carson RooneyMarcus & MillichapMore Info
215-531-7028

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.