2925 Atlantic Ave Atlantic City, NJ 08401

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.