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Renovated & Stabilized - 7 Units + Retail 22 N King St 7,218 SF Retail Building Online Auction Sale Gloucester City, NJ 08030
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Investment Highlights
- Fully stabilized 7,218 SF mixed-use asset, currently 100% leased with diversified income from seven apartments and one retail suite.
- Corner site at N King and Bergen Streets, equipped with on-site parking and an EV charging station for tenant convenience.
- Camden/Pennsauken multifamily vacancy stands at 3.9% with 3% annual rent growth, supported by a resilient renter population.
- Extensive gut renovations have positioned the property in excellent condition with limited near-term capital requirements.
- Quick access to Interstates 76 and 676 provides efficient access to Philadelphia, South Jersey, and major commuter routes.
Executive Summary
22 N King Street in Gloucester City presents an opportunity to acquire a fully stabilized, income-producing mixed-use asset offered for auction sale. The 7,218-square-foot property is majority leased and consists of seven apartment units and one ground-floor retail space, delivering dependable cash flow from a diversified tenant mix. Extensive gut renovations have positioned the building in excellent condition, allowing investors to acquire a turnkey asset with minimal near-term capital requirements.
Spanning three floors on a 0.17-acre corner parcel at the intersection of N King and Bergen Streets, the property combines strong tenancy with desirable features, including on-site parking and an EV charging station. The recent renovations enhance both the residential and retail components, supporting tenant retention while preserving long-term competitiveness within the local market.
22 N King Street’s strategic location provides convenient access to Interstate 76 and Interstate 676, connecting tenants and customers to Downtown Philadelphia and the broader Southern New Jersey region. Philadelphia International Airport is approximately 22 minutes away, further strengthening regional accessibility and supporting the property's appeal for both residents and commercial occupants.
Investors also benefit from favorable market fundamentals. The surrounding 3-mile trade area includes more than 167,000 residents, with renters accounting for over 47% of households and generating more than $1.8 billion in annual consumer spending. The property is situated within the Camden/Pennsauken Multifamily Submarket, where vacancy has compressed to just 3.9%, well below the broader market average, while rents have grown 3% over the past 12 months. Together, these dynamics support continued demand for well-maintained multifamily assets and reinforce the investment appeal of this stabilized Camden County acquisition.
Property tours are by appointment only. Please contact the listing broker to schedule.
Spanning three floors on a 0.17-acre corner parcel at the intersection of N King and Bergen Streets, the property combines strong tenancy with desirable features, including on-site parking and an EV charging station. The recent renovations enhance both the residential and retail components, supporting tenant retention while preserving long-term competitiveness within the local market.
22 N King Street’s strategic location provides convenient access to Interstate 76 and Interstate 676, connecting tenants and customers to Downtown Philadelphia and the broader Southern New Jersey region. Philadelphia International Airport is approximately 22 minutes away, further strengthening regional accessibility and supporting the property's appeal for both residents and commercial occupants.
Investors also benefit from favorable market fundamentals. The surrounding 3-mile trade area includes more than 167,000 residents, with renters accounting for over 47% of households and generating more than $1.8 billion in annual consumer spending. The property is situated within the Camden/Pennsauken Multifamily Submarket, where vacancy has compressed to just 3.9%, well below the broader market average, while rents have grown 3% over the past 12 months. Together, these dynamics support continued demand for well-maintained multifamily assets and reinforce the investment appeal of this stabilized Camden County acquisition.
Property tours are by appointment only. Please contact the listing broker to schedule.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,218 SF
Building Class
C
Year Built
1900
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.97
Lot Size
0.17 AC
Parcel Number
14-00039-0000-00009
Zoning
N/Av,Gloucester City - Please refer to the attachment to see the permitted uses in this zoning district.
Parking
9 Spaces (1.25 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
11,349
167,395
525,336
2020 Population
10,378
166,281
516,707
2030 Population
11,759
169,064
530,598
2025-2030 Projected Population Growth
3.6%
1.0%
1.0%
Daytime Employees
3,598
75,003
386,135
Total Businesses
320
7,254
41,048
Average Household Income
$76,205
$92,315
$109,959
Median Household Income
$58,603
$69,540
$82,618
Total Consumer Spending
$103.3M
$1.8B
$6.8B
Median Age
35.7
38.4
37.9
2025 Households
3,965
66,207
230,342
Percent College Degree or Above
7%
17%
23%
Average Home Value
$230,377
$325,225
$410,910
$ values in USD
Nearby Major Retailers
Sale Advisors
Sale Advisors
Jordan Sobel, Director
Jordan is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $50 million range in the suburban New York Metropolitan area.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Since joining the Private Client Group, Jordan has been involved in more than $1 billion of property sales comprising over 4 million square feet. Jordan’s tenacity and work ethic has consistently delivered superior results for his clients.
Prior to joining the Capital Markets Group, Jordan was a Land Acquisition Analyst at K. Hovnanian Homes. There he assisted the Acquisition team with the evaluation on current and potential acquisitions.
Andrew Schwartz, Managing Director
Andrew J. Schwartz is a Senior Director in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle markets transactions in the $2 million to $20 million range in the suburban New York Metropolitan area.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Since joining the Capital Markets Group, Andrew has been involved in more than $500 million of property sales comprising over 5.7 million square feet. Prior to that, he worked on Wall Street for 20 years serving institutional clients at Abel Noser and Morgan Stanley. Previous to that, he was with Cushman & Wakefield as an office and industrial leasing broker.
Andre Balthazard, Sr. Associate
Andres’s team specializes in middle-market transactions in the Northern New Jersey and Suburban New York markets. Prior to joining the Capital Markets team, André interned with Cushman & Wakefield in the Sacramento, California, office, where he worked with teams that represented office and industrial tenants and landlords.
Daniel Bottiglieri, Senior Associate - Capital Markets
Daniel J. Bottiglieri is an Associate in the Metropolitan Area Capital Markets Group. He is located in Cushman & Wakefield’s Morristown, New Jersey office and specializes in middle market dispositions ranging from $2 million to $30 million with a specific focus on retail sales.
About the Auction Technology
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Auction Contact
Taylor Cunningham
Contact
Auctioneer License:
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Contacts
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Jordan Sobel -
Andrew Schwartz -
Andre Balthazard -
Daniel Bottiglieri -
Cushman & Wakefield
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Renovated & Stabilized - 7 Units + Retail | 22 N King St
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