Fully Occupied
For Sale
$899,000
104 South Massachusetts Avenue, Atlantic City, NJ 08401
Four residential units feature gas cooking, window units, vinyl exterior siding, and a fenced yard.
Property Size2,688 SF
Price / SF$334.45
Days on Market313
Property Features for 104 South Massachusetts Avenue
General Information
Standard status
Active
Size
2,688 SF
Property subtype
MULTI-FAMILY / 4 - 10 Units
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,577
Amenities
Gas-Natural
Gas Stove, Refrigerator, Self Cleaning Oven
Window Units
Vinyl
Curbs, Fenced Yard, Sidewalks
Building Details
Year Built
1930
Buildings
1
Units
4
Listing Agency:
WEICHERT REALTORS ASBURY GROUP-AC
(609) 481-7745
Listed By:
GERARD (Jerry) BARKER · License #0566410
(609) 481-7745
Source:
Compass
Added: Oct 22, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WEICHERT REALTORS ASBURY GROUP-AC
Investment Insights
Based on property information with market context.
This 2,688-square-foot quadplex contains four residential units and was built in 1930. Interior features include natural gas service, gas stoves, refrigerators, self-cleaning ovens, and window units. Vinyl siding, a fenced yard, curbs, and sidewalks serve the property, which is fully occupied.
The building is located one block from the Atlantic Ocean beaches and the Jersey Shore Boardwalk, with the Ocean Casino Resort nearby. Its four-unit configuration and existing occupancy provide a defined multifamily format in a coastal setting.
The building is located one block from the Atlantic Ocean beaches and the Jersey Shore Boardwalk, with the Ocean Casino Resort nearby. Its four-unit configuration and existing occupancy provide a defined multifamily format in a coastal setting.
Key Highlights
- Four‑unit multifamily building with 2,688 SF
- Fully occupied residential property
- Built in 1930
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
$30,612
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
3.41%
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%
$612,240
$612.2K
Cap Rate 7%
$437,314
$437.3K
Cap Rate 9%
$340,133
$340.1K
Market Conditions
NOI Build-Up for 2,688 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
$46.8K $17.40/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$43.7K $16.27/SF
− OpEx
−$13.1K −$4.88/SF
NOI
$30.6K $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%
$612,240
Cap Rate 7%
$437,314
Cap Rate 9%
$340,133
Alternative Uses
Best Use
Multifamily LT 5
$437.3K
$382.7K – $510.2K
NOI $30,612 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$384.4K
$336.3K – $448.4K
NOI $26,906 @ 7.0% cap · market cap 2.99%
Theoretical Best
Warehouse
$1.00M
$875.9K – $1.17M
NOI $70,070 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature gas cooking, window units, vinyl exterior siding, and a fenced yard.
Where is this quadplex located?
The property is located at 104 South Massachusetts Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑unit multifamily building with 2,688 SF; Fully occupied residential property; Built in 1930
