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    Atlantic City Commercial Opportunity Title is generated by Realmo AI

    508 Atlantic Ave, Atlantic City, NJ 08401

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    Claim this Listing
    For Sale
    $1,600,000

    COMMERCIAL - Atlantic City, NJ

    Property size:
    10,000 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $160/SF
    Added:
    Apr 29, 2025
    Days on Market:
    397
    Last Refresh:
    May 30 at 1:06 pm

    Property Features for 508 Atlantic Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Security features
    Security System, Security Lighting
    Interior features
    Display Windows, Fire Sprinkler System, Restroom, Security System, Smoke/Fire Alarm, Storage
    Exterior features
    Security Light/System, Sign
    Standard status
    Active
    Size
    10,000 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    21074

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Flooring type
    Carpet
    Roof type
    Flat
    Additional Structures
    Storage

    We can help!

    Listing Contact
    PAULA HARTMAN

    Listing agent PAULA HARTMAN License #SP-9807299

    Listing office BHHS FOX and ROACH-Margate 9218 VENTNOR AVE, NJ

    Listing date Apr 29, 2025

    MLS# 595664

    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.

    HighLights

    • Rare 40‑space parking lot on Atlantic Avenue
    • Over 10,000 sq ft of versatile, open warehouse‑style space
    • Located in a high‑traffic area on Atlantic Avenue
    • Nearly 14,000 sq ft lot with room for expansion
    • Previously configured as 8 individual stores, now one large space
    • Equipped with fire sprinkler system, security system, and smoke/fire alarm

    Overview

    This commercial property is located in a high-traffic area on Atlantic Avenue in Atlantic City, New Jersey. The property offers over 10,000 square feet of versatile space on a lot spanning nearly 14,000 square feet. Previously configured as 8 individual stores, the property has been converted into one large, open warehouse-style layout. The property includes 40 parking spaces, offering convenience for customers and employees. This location is suitable for businesses such as retail, wholesale, service-oriented enterprises, or as a corporate headquarters. The property offers high visibility, ample space, and parking availability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mel's Furniture/Factory Direct ... Furniture & Home Goods HighLine Sleep Department Store Direct Bedding Adjustable ... Building Supply Atlantic Beds Furniture & Home Goods

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Providence Towing & Recovery — 3301 Arctic Ave, Atlantic City, NJ 08401

    Location Insight

    • Map
    • Local Demand
    City
    Atlantic City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.4169956
    Latitude
    39.3664299

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    FAQs

    What type of property is this?
    Warehouse - Versatile commercial space with high visibility and ample parking.
    Where is this warehouse located?
    The property is located at 508 Atlantic Ave Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Rare 40‑space parking lot on Atlantic Avenue; Over 10,000 sq ft of versatile, open warehouse‑style space; Located in a high‑traffic area on Atlantic Avenue
    (609) 487-7234
    We can help!
    Listing Contact
    PAULA HARTMAN
    Real Estate License ID: SP-9807299
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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
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