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2925 Atlantic Ave Atlantic City, NJ 08401

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For Sale
$860,000

Mixed-use building with retail and residential units in Atlantic City.

Lot size:
0.10 Acres

Property Features for 2925 Atlantic Ave

General Information

Lot size
0.10 Acres

Source: Brooklyn New York MLS Agent NON MEMBER

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Atlantic City Mixed-Use Investment

This mixed-use building is located in a busy shopping center in Atlantic City, New Jersey, near casinos and commercial buildings. The building has a total area of 8942 square feet and is situated on a 4238 square foot lot. It features two retail stores on the ground floor with leases ending in 2029 and 2031, with a 3% annual rent increase. Tenants are responsible for 1/7 of the water bill each. Additionally, there are five residential units: two apartments on the second floor (Apt#1 and Apt#2), two apartments on the third floor (Apt#3 and Apt#4), each with three beds and two baths, and one apartment (Apt#5) with one bed and one bath located at the rear of the first floor. The residential units have annual leases. Hot water and heating are separated, and tenants pay for their own utilities. The property generates a gross income of $129,660, with expenses around $32,000, resulting in an 8.5% cap rate. The building is well-maintained and offers stable growth income, presenting an opportunity for investors.
Insight Report Location Intelligence

Current Use by Public Records

CNT Services Tax Preparation Service Rafael's Beauty & Barber ... Barber Shop Dynasty Salon Massage Therapist

Suggested Use

Law Firm Realty agency Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Atlantic City
County
Atlantic
State
New Jersey
Longitude
-74.4477643
Latitude
39.3543426

FAQs

What type of property is this?
Mixed-use property - Mixed-use building with retail and residential units in Atlantic City.
Where is this mixed-use property located?
The property is located at 2925 Atlantic Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: - High Cap Rate: Benefit from a strong 8.5% capitalization rate.; - Stable Income with Growth Potential: Gross income of $129,660 with low expenses and retail leases include a 3% annual rent increase.; - Mixed-Use Property: Features two retail units and five residential units.
More about this property
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