Tenant-Occupied Duplex
For Sale
$300,000
Pending
356-358 Chicago Avenue, Egg Harbor City, NJ 08215
MULTI_FAMILY - Egg Harbor City, NJ
Property Size1,770 SF
Lot Size0.13 Acres
Days on Market88
Property Features for 356-358 Chicago Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Directions
S Breman Ave to Buerger st. to Chicago Ave on the left.
Standard status
Pending
APN
07-00438-0000-00015
Size
1,770 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6882
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# 22614538
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 property is being offered for sale as-is, where-is. The units are currently leased, providing in-place occupancy for a buyer assuming the property in its existing condition. The seller makes no representations or warranties, and buyers are responsible for all due diligence, inspections, and any municipal requirements in accordance with New Jersey guidelines.
The property address is 356-358 Chicago Avenue in Egg Harbor City, New Jersey, in Atlantic County. Buyers and their representatives should respect tenant occupancy and do not approach the property without a confirmed appointment. Seller has limited knowledge of measurements and unit conditions, and due diligence of those conditions is required.
Additional reported details include a lot size of 0.13 acres and total property size of 1,770 square feet.
The property address is 356-358 Chicago Avenue in Egg Harbor City, New Jersey, in Atlantic County. Buyers and their representatives should respect tenant occupancy and do not approach the property without a confirmed appointment. Seller has limited knowledge of measurements and unit conditions, and due diligence of those conditions is required.
Additional reported details include a lot size of 0.13 acres and total property size of 1,770 square feet.
Key Highlights
- Tenant‑occupied with immediate income potential.
- Strong addition to an investment portfolio.
- Seamless transition for new owner due to existing lease.
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
$20,157
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
6.72%
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%
$403,140
$403.1K
Cap Rate 7%
$287,957
$288.0K
Cap Rate 9%
$223,967
$224.0K
Market Conditions
NOI Build-Up for 1,770 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
$30.8K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.8K $16.27/SF
− OpEx
−$8.6K −$4.88/SF
NOI
$20.2K $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%
$403,140
Cap Rate 7%
$287,957
Cap Rate 9%
$223,967
Alternative Uses
Best Use
Multifamily LT 5
$288.0K
$252.0K – $336.0K
NOI $20,157 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$253.1K
$221.5K – $295.3K
NOI $17,717 @ 7.0% cap · market cap 5.91%
Theoretical Best
Warehouse
$659.1K
$576.8K – $769.0K
NOI $46,140 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
367
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 offered for sale as-is, where-is, with buyer responsible for due diligence and inspections.
Where is this duplex located?
The property is located at 356-358 Chicago Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Tenant‑occupied with immediate income potential.; Strong addition to an investment portfolio.; Seamless transition for new owner due to existing lease.
