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    22 S Virginia Ave Atlantic City, NJ 08401

    Sponsored
    For Sale
    $649,500

    Commercial - Atlantic City, NJ

    Days on Market:
    12
    Last Refresh:
    Feb 6 at 9:06 pm

    Property Features for 22 S Virginia Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Fire Alarm, Security Lighting, Security System
    Zoning
    CBD
    Rooms
    Basement, Laundry, Office, Utility Room
    Interior features
    Display Windows, Living Space Available, Restroom, Security System, Smoke/Fire Alarm, Storage
    Exterior features
    Sign, Fence, Security Light/System
    Fencing
    Fenced
    Basement Y/N
    1

    Utilities

    Heating system
    Forced Air, Natural Gas, Zoned (Heating)
    Cooling system
    Central Air, Zoned

    Building Details

    Year built
    1920
    Floors in Building
    4
    Number of units
    2
    Flooring type
    Concrete, Hardwood
    Building materials
    Brick, Stucco
    Roof type
    Asphalt

    We can help!

    Listing Contact
    GERARD (Jerry) BARKER

    WEICHERT REALTORS ASBURY GROUP-AC (609) 344-6200

    Listing agent GERARD (Jerry) BARKER (609) 344-6200 License #0566410

    Listing date Jan 26, 2026

    MLS# 603816 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

    Mixed-Use Building Near Hard Rock

    Located half a block from the Hard Rock Hotel & Casino and the Atlantic Ocean beaches and boardwalk, this mixed-use building features a large ground-floor commercial space and a renovated three-story single-family home above. The 126-year-old building includes five bedrooms and 3.5 bathrooms. A covered front porch overlooks Virginia Avenue, and a second-floor rear balcony off the kitchen includes a BBQ pit and garden. The interior features natural light, high ceilings, and an open floor plan with an open kitchen, dining, and living area, complete with a center island and wet bar, along with front and rear outdoor living spaces. All bedrooms and bathrooms are on the top floors. The property is located minutes from the Absecon Lighthouse, Fishermans Park, the new Uptown Skate Park, Historic Gardner's Basin, the renovated AC Aquarium, a new minigolf station with bike and surry rentals, the redesigned "Inkwell" Caspian Beach, the Seed Brewery, the Little Water Distillery, and Westacunk Axe Throwing. The location provides access to the AC Aquarium and restaurants like Gilchrest and Back Bay AleHouse. Jitney and bus services offer convenient access to Atlantic City's tourism district, Tanger Outlets, and casinos like Ocean, Hardrock / SteelPier, Showboat / Indoor Island Water Park, Resorts /Margaritaville, Borgata, Harrahs, & Golden Nugget / Farley Marina. The commercial space can be rented out, used for a business, or for storage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Atlantic City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.4226153
    Latitude
    39.3632489

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property near the beach, boardwalk, and Hard Rock Hotel.
    Where is this mixed-use property located?
    The property is located at 22 S Virginia Ave Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $649,500.
    What are key features of this property?
    This property features: - Prime Location: Half a block from Hard Rock Hotel & Casino, Jersey Shore beaches, and the world-famous boardwalk.; - Unique Mixed-Use Property: Features a large commercial space and a renovated, three-story, five-bedroom single-family home.; - Outdoor Living: Includes a massive covered front porch and a large 2nd-floor rear balcony with BBQ pit & garden.
    (609) 481-7745
    Request Owner's contact information
    22 S Virginia 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
    22 S Virginia Ave Atlantic City, NJ 08401
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    We can help!
    Listing Contact
    GERARD (Jerry) BARKER
    Real Estate License ID: 0566410
    (609) 481-7745
    Learn more
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