Tenant-Occupied Multifamily
For Sale
$280,000
113-115 7TH Terrace, Egg Harbor City, NJ 08215
Leased residential asset with an established tenant in place.
Property Size1,322 SF
Price / SF$211.80
Days on Market262
Property Features for 113-115 7TH Terrace
General Information
Standard status
Active
Size
1,322 SF
Property subtype
Multi-family
Building Details
Year Built
1960
Listing Agency:
Jersey Property Group Realty
Listed By:
Donna Mancuso · License #0675353
(609) 977-3926
Source:
Actionplusrealty
Added: Feb 1
Changed: Oct 20
Last Checked: Oct 20 at 11:17PM
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 Jersey Property Group Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property at 113-115 7th Terrace in Egg Harbor City, New Jersey, was built in 1960 and is currently tenant-occupied. The property is offered in its existing condition, with the buyer responsible for due diligence, inspections, and applicable municipal requirements.
A confirmed appointment is required before visiting the property because of the current occupancy.
A confirmed appointment is required before visiting the property because of the current occupancy.
Key Highlights
- Currently occupied by tenants
- Existing lease in place
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,233
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,660
$264.7K
Cap Rate 7%
$189,043
$189.0K
Cap Rate 9%
$147,033
$147.0K
Market Conditions
NOI Build-Up for 1,322 SF
Gross rent
$25.5K $19.32/SF
− Vacancy
−$1.5K −$1.12/SF
EGI
$24.1K $18.20/SF
− OpEx
−$10.8K −$8.19/SF
NOI
$13.2K $10.01/SF
Area
Atlantic County, NJ
Vacancy
5.80%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,660
Cap Rate 7%
$189,043
Cap Rate 9%
$147,033
Alternative Uses
Best Use
Apartment 5plus
$189.0K
$165.4K – $220.6K
NOI $13,233 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$492.3K
$430.8K – $574.4K
NOI $34,461 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Leased residential asset with an established tenant in place.
Where is this multifamily property located?
The property is located at 113-115 7TH Terrace Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Currently occupied by tenants; Existing lease in place; Built in 1960
