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    520 Pacific Ave, Unit 201C Atlantic City, NJ 08401

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    For Sale
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    Newly renovated office space in prime location, available March 2025.

    Property Features for 520 Pacific Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1988

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    Listing Contact
    Gerard Jerry Barker
    Source: Exitrealty

    Listing Agency: WEICHERT REALTORS ASBURY GROUP-AC Listing Agent: Gerard Jerry Barker

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

    Learn more

    Overview

    Renovated Corner Office Space Available

    Newly renovated corner office space at the base of Bella Luxury Condos will be available for occupancy in March 2025. The property is situated along the city's main commercial corridor, directly in front of the Ocean Resort Casino Hotel, one block from Showboat & America's Largest Indoor Water Park, two blocks from the Steel Pier and Hard Rock Hotel and Casino, and four blocks from Margaritaville & Resorts Hotel and Casino. It is also located two blocks from the Absecon Lighthouse and half a block from the beach and boardwalk. The adjoining commercial space is currently occupied by Weichert Realtors. Public transportation is available on Pacific Avenue, and the AC Inlet and Marina district are within a two-minute drive. The space, located at the corner of S. Congress and Pacific Avenues, features two separate front door entrances, one back entrance into the Bella, five large windows along Pacific Avenue, two back doors, two private offices, and two restrooms. Security and fire suppression systems are in place. Bella features 24/7 security/concierge, onsite mail pick up and drop off, and dry cleaning services. Common Area Maintenance (CAM) is included. Tenants are responsible for their own electric. Parking spaces are available for purchase in the parking lot across the street. A conference room can be shared with the Weichert Real Estate Office if needed.
    Location Intelligence

    Current Use by Public Records

    Ørsted Sustainability Organization localSTR Property Management Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    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
    -74.4165116
    Latitude
    39.3647372

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    FAQs

    What type of property is this?
    Office units - Newly renovated office space in prime location, available March 2025.
    Where is this office units located?
    The property is located at 520 Pacific Ave, Unit 201C Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $2,000.
    What are key features of this property?
    This property features: - Prime location on the main commercial corridor, directly in front of Ocean Resort Casino Hotel and close to numerous casinos, attractions, and the beach/boardwalk.; - Newly renovated corner office space ready for occupancy in March 2025.; - Two separate front entrances, a back entrance into Bella Luxury Condos, five large windows, and two private offices.
    (609) 344-6200
    Request Owner's contact information
    520 Pacific Ave, Unit 201C Atlantic City, NJ 08401
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    Atlantic City, NJ 08401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    520 Pacific Ave, Unit 201C Atlantic City, NJ 08401
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    Listing Contact
    Gerard Jerry Barker
    Real Estate License ID: 0566410
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