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    1009 Pacific Ave Atlantic City, NJ 08401

    View on Map
    Sponsored
    For Sale
    $1,300,000

    Commercial - Atlantic City, NJ

    Lot size:
    0.09 Acres
    Days on Market:
    17
    Last Refresh:
    Mar 15 at 3:06 pm

    Property Features for 1009 Pacific Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Fire Alarm
    Zoning
    CBD
    Interior features
    220 Volt Electricity, Restroom, Smoke/Fire Alarm
    Exterior features
    Sign
    Lot size
    0.09 Acres

    Utilities

    Utilities
    Electricity Available
    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Linoleum, Vinyl
    Building materials
    Block
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Rick Hamlin

    Soleil Sotheby's International Realty (609) 487-8000

    Listing agent Rick Hamlin (609) 487-8000 License #2188857

    Listing date Feb 26, 2026

    MLS# 600774 Listing URL

    Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Retail Location Near Casino

    This commercial property is located across the street from the Hard Rock Casino. It features two units. One unit is currently vacant and available for lease at an estimated $3,500 per month. The other unit is occupied by a food store that has been a tenant for 17 years and is interested in renewing their lease in October for $8,000 per month. The property was fully renovated in 2008, including a new roof, which was redone in 2018. The property offers steady income. The current owner can quickly lease the vacant unit if desired by the buyer. The seller may offer owner financing with a 20% down payment. The owner has received approval to build two apartment units above the existing commercial buildings. The lot size is 0.09 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pacific Food Market Grocery & Convenience Store ATM Atm

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Restaurant Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    La Villita Farm Market, Simpson Restaurant - Atlantic City, Brighton Grocery & Produce, Atlantic Supermarket, Wild Honey - Smokehouse & Tavern

    Location Insight

    • Map
    • Local Demand
    City
    Atlantic City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.4226621
    Latitude
    39.3624954

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    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property with income potential near Hard Rock Casino.
    Where is this grocery and convenience store located?
    The property is located at 1009 Pacific Ave Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Prime location across the street from the Hard Rock Casino.; - Existing long-term tenant (food store) with a history of 17 years, seeking to renew lease at $8,000/month.; - Opportunity to build two apartment units above the existing commercial buildings.
    (609) 487-8000
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    1009 Pacific Ave Atlantic City, NJ 08401
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    Atlantic City, NJ 08401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1009 Pacific Ave Atlantic City, NJ 08401
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    We can help!
    Listing Contact
    Rick Hamlin
    Real Estate License ID: 2188857
    (609) 487-8000
    Learn more
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