Drug Store with
For Sale
$2,300,000
1101 Atlantic Ave, Atlantic City, NJ 08401
CBD-zoned corner property includes warehouse storage and multiple access points.
Property Size11,274 SF
Price / SF$204.01
Days on Market37
Property Features for 1101 Atlantic Ave
General Information
Standard status
Active
Size
11,274 SF
Building Details
Year Built
1990
Listing Agency:
Levin Commercial Real Estate, LLC.
(609) 344-5200
Listed By:
Joshua Levin · License #9235858
Source:
Thecazagroup
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 25 at 5:38AM
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 Levin Commercial Real Estate, LLC.
Investment Insights
Based on property information with market context.
The former Walgreens property comprises a 1.02-acre corner site with an 11,274-square-foot building, including approximately 11,000 square feet on the ground level. The layout includes two drive-thru lanes, rear warehouse and storage space accessed by an overhead door, and additional second-floor storage connected by a conveyor system.
Three points of ingress and egress support customer circulation and deliveries. The property also offers substantial parking, Opportunity Zone designation, and CBD zoning. Its existing configuration is identified for potential retail, medical, QSR, urgent care, service, or mixed-use repositioning and redevelopment concepts. Built in 1990, the building combines a large ground-floor footprint with supporting storage and service areas.
Three points of ingress and egress support customer circulation and deliveries. The property also offers substantial parking, Opportunity Zone designation, and CBD zoning. Its existing configuration is identified for potential retail, medical, QSR, urgent care, service, or mixed-use repositioning and redevelopment concepts. Built in 1990, the building combines a large ground-floor footprint with supporting storage and service areas.
Key Highlights
- 1.02‑acre corner site with an 11,274 SF building
- Approximately 11,000 SF on the ground level
- Two drive‑thru lanes and substantial parking
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
$174,420
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
7.58%
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%
$3,488,400
$3.5M
Cap Rate 7%
$2,491,714
$2.5M
Cap Rate 9%
$1,938,000
$1.9M
Market Conditions
NOI Build-Up for 11,274 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
$243.5K $21.60/SF
− Vacancy
−$11.0K −$0.97/SF
EGI
$232.6K $20.63/SF
− OpEx
−$58.1K −$5.16/SF
NOI
$174.4K $15.47/SF
Area
Atlantic County, NJ
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,488,400
Cap Rate 7%
$2,491,714
Cap Rate 9%
$1,938,000
Alternative Uses
Best Use
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,420 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$1.55M
$1.35M – $1.81M
NOI $108,315 @ 7.0% cap · market cap 4.71%
Theoretical Best
Warehouse
$4.20M
$3.67M – $4.90M
NOI $293,885 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
81k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 25%
Groceries 12%
Hotels & Casinos 10%
Save-A-Lot
Groceries
10,112 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
9,549 visits/mo
0.3 miles
TD Bank
Shops & Services
9,513 visits/mo
0.1 miles
Dollar General
Shops & Services
7,902 visits/mo
0.4 miles
Wells Fargo
Shops & Services
7,177 visits/mo
0.1 miles
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 Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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- Crystal Industrial Chemicals — 112 Park Pl, Atlantic City, NJ 08401
- Vadim Poznyak — 1723 Pacific Ave, Atlantic City, NJ 084016808
- Rakesh Kundalia — 1502 Atlantic Ave, Atlantic City, NJ 084017011
Frequently Asked Questions
What type of property is this?
Drug store - CBD-zoned corner property includes warehouse storage and multiple access points.
Where is this drug store located?
The property is located at 1101 Atlantic Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1.02‑acre corner site with an 11,274 SF building; Approximately 11,000 SF on the ground level; Two drive‑thru lanes and substantial parking
