Tenant-Occupied Multifamily
For Sale
$280,000
113115 113-115 7th Terrace, Egg Harbor City, NJ 08215
Leased multifamily asset offered in its existing condition with tenant occupancy in place.
Property Size1,322 SF
Price / SF$211.80
Days on Market72
Property Features for 113115 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:
Obrienrealtyllc
Added: Aug 4
Changed: Oct 4
Last Checked: Oct 7 at 2:53PM
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
Investment Insights
Based on property information with market context.
This multifamily property is tenant occupied and currently leased, allowing the existing tenancy to remain in place through a transfer subject to applicable terms. The property is offered strictly in its present condition, with no seller representations or warranties stated.
Built in 1960, the asset is located at 113-115 7th Terrace in Egg Harbor City, New Jersey. Buyer due diligence, inspections, and municipal requirements are the buyer’s responsibility under the stated New Jersey guidelines. Property access requires a confirmed appointment, and tenant privacy must be respected.
Built in 1960, the asset is located at 113-115 7th Terrace in Egg Harbor City, New Jersey. Buyer due diligence, inspections, and municipal requirements are the buyer’s responsibility under the stated New Jersey guidelines. Property access requires a confirmed appointment, and tenant privacy must be respected.
Key Highlights
- Tenant‑occupied multifamily property
- Currently leased with existing tenancy in place
- Offered strictly as‑is, where‑is
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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
367
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Leased multifamily asset offered in its existing condition with tenant occupancy in place.
Where is this multifamily property located?
The property is located at 113115 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: Tenant‑occupied multifamily property; Currently leased with existing tenancy in place; Offered strictly as‑is, where‑is
