Two-Unit
For Sale
$220,000
2521 Centennial Ave, Atlantic City, NJ 08401
One apartment is occupied, while the other is vacant and ready for use.
Property Size814 SF
Price / SF$270.27
Days on Market49
Property Features for 2521 Centennial Ave
General Information
Standard status
Active
Size
814 SF
Property subtype
Multi-Family
Listing Agency:
BHHS FOX and ROACH-Northfield
Listed By:
GORAN CEDEVSKI · License #SP1755689
(609) 334-0238
Source:
Southjerseyshorehomesfinder
Added: Aug 20
Changed: Sep 8
Last Checked: Oct 5 at 8:24PM
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 BHHS FOX and ROACH-Northfield
Investment Insights
Based on property information with market context.
This duplex contains two separate one-bedroom, one-bath apartments. The upper residence is occupied by a tenant who pays utilities, while the lower residence is vacant and available for an owner or incoming tenant. The property size is listed as 814.
The building is positioned behind Texas Avenue School in Atlantic City. Public transportation, casinos, restaurants, shopping, entertainment, the Atlantic City Boardwalk, and beaches are all identified in the surrounding area.
The building is positioned behind Texas Avenue School in Atlantic City. Public transportation, casinos, restaurants, shopping, entertainment, the Atlantic City Boardwalk, and beaches are all identified in the surrounding area.
Key Highlights
- Two one‑bedroom, one‑bath apartments
- Upper unit is tenant‑occupied at $950 per month
- Tenant in the upper unit pays all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,270
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$185,400
$185.4K
Cap Rate 7%
$132,429
$132.4K
Cap Rate 9%
$103,000
$103.0K
Market Conditions
NOI Build-Up for 814 SF
Gross rent
$14.2K $17.40/SF
− Vacancy
−$921 −$1.13/SF
EGI
$13.2K $16.27/SF
− OpEx
−$4.0K −$4.88/SF
NOI
$9.3K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$185,400
Cap Rate 7%
$132,429
Cap Rate 9%
$103,000
Alternative Uses
Best Use
Multifamily LT 5
$132.4K
$115.9K – $154.5K
NOI $9,270 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$116.4K
$101.9K – $135.8K
NOI $8,148 @ 7.0% cap · market cap 3.70%
Theoretical Best
Warehouse
$303.1K
$265.2K – $353.7K
NOI $21,219 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One apartment is occupied, while the other is vacant and ready for use.
Where is this duplex located?
The property is located at 2521 Centennial Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath apartments; Upper unit is tenant‑occupied at $950 per month; Tenant in the upper unit pays all utilities
