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    511-521 Pacific Ave Atlantic City, NJ 08401

    Sponsored
    For Sale
    $995,000

    10,001 To 20,000 Sqft - Atlantic City, NJ

    Lot size:
    0.40 Acres
    Days on Market:
    69
    Last Refresh:
    Jan 28 at 8:06 am

    Property Features for 511-521 Pacific Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial,Mixed Use
    Exterior features
    Sidewalks
    Lot size
    0.40 Acres

    We can help!

    Listing Contact
    MARY LOU FERRY WIMMER

    Farley and Ferry Realty Inc. (609) 822-1836

    Listing agent MARY LOU FERRY WIMMER (609) 822-1836 License #RB-8530847

    Listing date Nov 21, 2025

    MLS# 590722 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 Atlantic City Development Opportunity

    This strategic property comprises three contiguous lots, totaling 17,129 square feet, and spans the entire frontage of Pacific Avenue between South Connecticut and Congress Avenues. The site is located within the CRDA Tourism District and is newly zoned LH-1, allowing for a range of investment opportunities. The corner lot features a two-story, 3,900-square-foot building, positioned directly across from the new luxury apartment complex 600 NoBe and the Bella Luxury Condo Tower. The fenced-in corner lot at Pacific and South Connecticut, a main access route to the Ocean Resort Casino, offers high traffic and visibility. The middle lot is a fully leased parking facility, generating revenue. The building shell on the right side presents potential for multi-family, commercial, or mixed-use redevelopment. Located two blocks from the beach, this property is suited for capitalizing on Atlantic City's growth. Buildable lots must be a minimum of 7,500 square feet per lot for development, allowing these lots to be consolidated into a single project. With the combined square footage, the property can support up to 10 multi-family units with 20 required parking spaces, or commercial uses on the ground level.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Gym & Fitness

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

    Similar Places Nearby

    Airport Chariot Car Service and Limo, CARO Car Rental Atlantic City

    Location Insight

    • Map
    • Local Demand
    City
    Atlantic City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.416614
    Latitude
    39.364974

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    FAQs

    What type of property is this?
    Parking lot & garage - Three contiguous lots with redevelopment potential in a prime location.
    Where is this parking lot & garage located?
    The property is located at 511-521 Pacific Ave Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Prime location in the CRDA Tourism District, two blocks from the beach, with new LH-1 zoning allowing diverse investment opportunities.; - Three contiguous lots totaling 17,129 square feet, offering significant development potential.; - Fully leased parking lot provides steady revenue.
    (609) 822-1836
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    511-521 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
    511-521 Pacific Ave Atlantic City, NJ 08401
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    We can help!
    Listing Contact
    MARY LOU FERRY WIMMER
    Real Estate License ID: RB-8530847
    (609) 822-1836
    Learn more
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