Development Lot with Existing
For Sale
$785,000
Pending
112 3RD ST S, Brigantine, NJ 08203
A 40 x 100 lot with a duplex currently on site, offered for development and multi-family purchase.
Property Size1,987 SF
Days on Market111
Property Features for 112 3RD ST S
General Information
Standard status
Pending
Size
1,987 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Listing Agency:
BHHS Fox & Roach-Brigantine
(609) 264-8444
Listed By:
Margaret Steadman · License #0458393
(609) 703-9093
Source:
Sandrasellstheshore
Added: Jul 10
Changed: Oct 26
Last Checked: Oct 26 at 3:54PM
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 BHHS Fox & Roach-Brigantine
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a 40 x 100 development lot with a duplex currently on site. The offering is also available for purchase as a multi-family, providing flexibility for buyers considering either renovation, reconfiguration, or future development of the site.
The location is described as being two blocks to the beach and less than a block to the bay, with central access to area amenities. Public boat ramp access, a weekly farmer’s market, and the Elk’s Club are noted nearby, along with a short walk to shops and restaurants.
As presented, the site supports both immediate occupancy with the existing duplex and planning for development on the available lot size.
The location is described as being two blocks to the beach and less than a block to the bay, with central access to area amenities. Public boat ramp access, a weekly farmer’s market, and the Elk’s Club are noted nearby, along with a short walk to shops and restaurants.
As presented, the site supports both immediate occupancy with the existing duplex and planning for development on the available lot size.
Key Highlights
- 40 x 100 lot available for development with a duplex currently on site
- Property is also available for purchase as a multi‑family
- Just two blocks to the beach and less than a block to the bay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,629
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,580
$452.6K
Cap Rate 7%
$323,271
$323.3K
Cap Rate 9%
$251,433
$251.4K
Market Conditions
NOI Build-Up for 1,987 SF
Gross rent
$34.6K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$32.3K $16.27/SF
− OpEx
−$9.7K −$4.88/SF
NOI
$22.6K $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 Rate 5%
$452,580
Cap Rate 7%
$323,271
Cap Rate 9%
$251,433
Alternative Uses
Best Use
Multifamily LT 5
$323.3K
$282.9K – $377.2K
NOI $22,629 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$284.1K
$248.6K – $331.5K
NOI $19,889 @ 7.0% cap · market cap 2.53%
Theoretical Best
Warehouse
$739.9K
$647.5K – $863.3K
NOI $51,796 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 08203, NJ
7,725
Population
9,340
Households
0.8
Avg Household Size
56
Median Age
46%
College-Educated
93%
High-School Grad
6.6 sq mi
ZIP Area
1,170
Density / Sq Mi
$88,906
Median Household Income
$57,510
Median Earnings
$1,499
Median Rent
$485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A 40 x 100 lot with a duplex currently on site, offered for development and multi-family purchase.
Where is this duplex located?
The property is located at 112 3RD ST S Brigantine, NJ.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 40 x 100 lot available for development with a duplex currently on site; Property is also available for purchase as a multi‑family; Just two blocks to the beach and less than a block to the bay
