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    Ventnor Triplex with Ocean Views Title is generated by Realmo AI

    22 South Marion Avenue, Ventnor City, NJ 08406

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    For Sale
    $999,990

    Well-maintained triplex near the beach with income potential.

    Type:MULTI-FAMILY / Triplex
    Added:
    Apr 15, 2025
    Days on Market:
    413
    Last Refresh:
    Mar 17 at 3:52 am

    Property Features for 22 South Marion Avenue

    General Information

    Standard status
    Active
    Property subtype
    MULTI-FAMILY / Triplex

    We can help!

    Listing Contact
    Mary Louise Ferry

    Listing agent Mary Louise Ferry License #8530847

    Listing office Farley & Ferry Realty Inc

    Listing date Apr 15, 2025

    Source Compass

    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 Farley & Ferry Realty Inc

    HighLights

    • Prime North Beach location in Ventnor, steps from the beach with ocean views.
    • Triplex configuration offers flexibility.
    • Main unit features a renovated kitchen with stainless steel appliances and access to a newly redone oversized deck (2024).
    • Ample off‑street parking and an oversized 2‑car garage with direct access.
    • Two vacant units ready for immediate rental income or customization.
    • Newer features include a new water heater, upgraded high‑velocity ductwork, and a galvanized steel spiral staircase (4‑5 years old).

    Overview

    This unique triplex is located in the North Beach section of Ventnor, offering ocean views and proximity to the beach. The property features three distinct units. One unit is currently owner-occupied, while the other two are vacant and ready for rental income or customization. The main-level unit includes a renovated kitchen with stainless steel appliances, a dual fuel stove, a dishwasher, and a refrigerator purchased in December 2024. This unit has 3 bedrooms and 2 bathrooms, with access to an oversized fiberglass deck redone in 2024. The living space extends to a finished ground-level area with a second full bathroom, bedroom, and living area with storage. The utility room, housing a new water heater and upgraded high-velocity ductwork for central air, is accessible from this area and the outside. The top-level unit features 3 bedrooms, a living room with a kitchenette, and an updated full bath. The middle unit, previously rented, includes 2 bedrooms, 2 bathrooms, in-unit washer/dryer, and living areas cooled with window units. The property includes a fire alarm system, a galvanized steel spiral staircase installed 4–5 years ago as a fire escape, ample off-street parking from Austin Ave, and an oversized 2-car garage with direct access. The property has separate electric meters and is being sold AS-IS.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency 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
    Ventnor City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.4688753
    Latitude
    39.3459487

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    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex near the beach with income potential.
    Where is this triplex located?
    The property is located at 22 South Marion Avenue Ventnor City, NJ.
    What is the asking price?
    The asking price for this property is $999,990.
    What are key features of this property?
    This property features: Prime North Beach location in Ventnor, steps from the beach with ocean views.; Triplex configuration offers flexibility.; Main unit features a **renovated kitchen with stainless steel appliances** and access to a **newly redone oversized deck (2024)**.
    (609) 822-1836
    We can help!
    Listing Contact
    Mary Louise Ferry
    Real Estate License ID: 8530847
    Learn More
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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.

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