Tenant-Occupied
For Sale
$310,000
Pending
348-350 Buffalo Avenue, Egg Harbor City, NJ 08215
MULTI_FAMILY - Egg Harbor City, NJ
Property Size1,588 SF
Lot Size0.08 Acres
Days on Market88
Property Features for 348-350 Buffalo Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Basement, Bathroom 1
Basement
Walk-Out Access
Directions
Philadelphia Ave to Buerger St. To Buffalo Ave on the left.
Standard status
Pending
APN
07-00431-0000-00005-01
Size
1,588 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6286
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Jersey Property Group Realty
(732) 800-1767
Listed By:
Donna Mancuso · License #0675353
(732) 800-1767
Added: May 17
Changed: Aug 10
Last Checked: Aug 12 at 9:06AM
MLS# 22614537
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This tenant-occupied duplex at 348-350 Buffalo Avenue (Egg Harbor City, NJ 08215) is offered as-is, where-is. The property is currently leased, and appointments are required out of respect for tenant occupancy. Buyer should complete due diligence, including inspections and any municipal requirements under New Jersey guidelines.
The building was constructed in 1900. The property sits on a 0.08-acre lot and includes approximately 1,588 square feet of building area. Utilities servicing the property include public water and public sewer. Interior layout information provided includes a basement, two bedrooms, and two bathrooms.
Additional due-diligence is recommended for verification of measurements and unit conditions, as sellers have limited knowledge of certain measurement details.
The building was constructed in 1900. The property sits on a 0.08-acre lot and includes approximately 1,588 square feet of building area. Utilities servicing the property include public water and public sewer. Interior layout information provided includes a basement, two bedrooms, and two bathrooms.
Additional due-diligence is recommended for verification of measurements and unit conditions, as sellers have limited knowledge of certain measurement details.
Key Highlights
- Tenant‑occupied duplex at 348‑350 Buffalo Avenue, Egg Harbor City, NJ 08215
- Offered as‑is, where‑is; property currently leased
- 0.08‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,085
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,700
$361.7K
Cap Rate 7%
$258,357
$258.4K
Cap Rate 9%
$200,944
$200.9K
Market Conditions
NOI Build-Up for 1,588 SF
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.
Gross rent
$27.6K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$25.8K $16.27/SF
− OpEx
−$7.8K −$4.88/SF
NOI
$18.1K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,700
Cap Rate 7%
$258,357
Cap Rate 9%
$200,944
Alternative Uses
Best Use
Multifamily LT 5
$258.4K
$226.1K – $301.4K
NOI $18,085 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$227.1K
$198.7K – $264.9K
NOI $15,895 @ 7.0% cap · market cap 5.13%
Theoretical Best
Warehouse
$591.4K
$517.4K – $689.9K
NOI $41,395 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with public water and public sewer, offered as-is where-is in Egg Harbor City.
Where is this duplex located?
The property is located at 348-350 Buffalo Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Tenant‑occupied duplex at 348‑350 Buffalo Avenue, Egg Harbor City, NJ 08215; Offered as‑is, where‑is; property currently leased; 0.08‑acre lot
