Four-Unit Mixed-Use
For Sale
$799,000
140 Philadelphia Avenue, Egg Harbor City, NJ 08215
The occupied building combines a storefront with three residential apartments.
Property Size3,492 SF
Price / SF$228.81
Days on Market9
Property Features for 140 Philadelphia Avenue
General Information
Standard status
Active
Size
3,492 SF
Property subtype
Commercial
Occupancy
100%
Financials
Asking Price
$799,000
Cap Rate
7.3%
Gross Income
$77,500
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Fox & Roach - Red Bank
Listed By:
Ghita Elboukili
(833) 740-1234
Source:
Actionplusrealty
Added: Sep 28
Changed: Oct 6
Last Checked: Oct 5 at 8:47PM
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 Berkshire Hathaway HomeServices Fox & Roach - Red Bank
Investment Insights
Based on property information with market context.
Built in 1890, this 3,492-square-foot mixed-use property contains four occupied units: one storefront and three apartments. The property has a 7.3% cap rate.
The building is located at 140 Philadelphia Avenue in Egg Harbor City, New Jersey.
The building is located at 140 Philadelphia Avenue in Egg Harbor City, New Jersey.
Key Highlights
- Four occupied units: one storefront and three residential apartments
- 3,492 square feet
- 7.3% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,856
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,120
$1.0M
Cap Rate 7%
$740,800
$740.8K
Cap Rate 9%
$576,178
$576.2K
Market Conditions
NOI Build-Up for 3,492 SF
Gross rent
$94.3K $27.00/SF
− Vacancy
−$11.3K −$3.24/SF
EGI
$83.0K $23.76/SF
− OpEx
−$31.1K −$8.91/SF
NOI
$51.9K $14.85/SF
Area
Atlantic County, NJ
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,120
Cap Rate 7%
$740,800
Cap Rate 9%
$576,178
Alternative Uses
Best Use
Mixed Use
$740.8K
$648.2K – $864.3K
NOI $51,856 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$499.3K
$436.9K – $582.6K
NOI $34,954 @ 7.0% cap · market cap 4.37%
Theoretical Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,028 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
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?
Mixed-use property - The occupied building combines a storefront with three residential apartments.
Where is this mixed-use property located?
The property is located at 140 Philadelphia Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four occupied units: one storefront and three residential apartments; 3,492 square feet; 7.3% cap rate
