Boardwalk Retail
For Sale
$499,000
1515 Boardwalk, Atlantic City, NJ 08401
COMMERCIAL/INDUSTRIAL, Atlantic City, NJ
Property Size2,500 SF
Price / SF$199.60
Days on Market1221
Property Features for 1515 Boardwalk
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RS-C
Rooms
Office
Security features
Security System, Security Lighting
Interior features
Display Windows, Elevator Pass, Fire Sprinkler System, Handicap Features, Restroom, Security System, Smoke/Fire Alarm, Storage
Exterior features
Recreation Facilities, Restrooms, Security Light/System, Storage Building, Swimming Pool
Accessibility
Accessible Approach with Ramp, Accessible Elevator Installed
Lot features
Beach Front, Boardwalk
Directions
Boardwalk right before New York Avenue
Subdivision
Atlantic City
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
20028
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Water front
1
Building Details
Year built
1980
Flooring type
Carpet
Additional Structures
Storage
Listing Agency:
WEICHERT REALTORS ASBURY GROUP-AC
(609) 344-6200
Listed By:
NATHAN CHAIT · License #SP-7942556
(609) 742-5896
Added: May 12, 2023
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 573937
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,500-square-foot retail space is configured for customer-facing operations, with one entrance opening directly onto the boardwalk and two additional entrances within the building. Display windows, storage, an office, restroom facilities, central air, forced-air heating, fire sprinklers, and a security system are included. The space also has accessible elevator service and a ramped approach.
The property is at 1515 Boardwalk in Atlantic City, adjacent to Atlantic Palace Suites and near the beach and boardwalk activity. Six casinos are within walking distance. The owner receives access to the hotel’s amenities, while two dedicated parking spaces are included. The building was constructed in 1980 and is served by public water and public sewer. Zoning is RS-C.
The property is at 1515 Boardwalk in Atlantic City, adjacent to Atlantic Palace Suites and near the beach and boardwalk activity. Six casinos are within walking distance. The owner receives access to the hotel’s amenities, while two dedicated parking spaces are included. The building was constructed in 1980 and is served by public water and public sewer. Zoning is RS-C.
Key Highlights
- 2,500 sq ft retail space at 1515 Boardwalk, Atlantic City, NJ 08401
- Three entrances: one from the boardwalk and two from inside the building
- Two dedicated parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,019
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$480,380
$480.4K
Cap Rate 7%
$343,129
$343.1K
Cap Rate 9%
$266,878
$266.9K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.5K $15.00/SF
− Vacancy
−$3.2K −$1.28/SF
EGI
$34.3K $13.73/SF
− OpEx
−$10.3K −$4.12/SF
NOI
$24.0K $9.61/SF
Area
Atlantic County, NJ
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$480,380
Cap Rate 7%
$343,129
Cap Rate 9%
$266,878
Alternative Uses
Best Use
Retail
$343.1K
$300.2K – $400.3K
NOI $24,019 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$931.0K
$814.6K – $1.09M
NOI $65,169 @ 7.0% cap · market cap 13.06%
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
2,333
Businesses Nearby
73k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 28%
Groceries 14%
Hotels & Casinos 11%
Save-A-Lot
Groceries
10,112 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
9,549 visits/mo
0.4 miles
TD Bank
Shops & Services
9,513 visits/mo
0.5 miles
Wells Fargo
Shops & Services
7,177 visits/mo
0.4 miles
Bank of America
Shops & Services
7,154 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three entrances support customer access from the boardwalk and interior of the building.
Where is this retail space located?
The property is located at 1515 Boardwalk Atlantic City, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,500 sq ft retail space at 1515 Boardwalk, Atlantic City, NJ 08401; Three entrances: one from the boardwalk and two from inside the building; Two dedicated parking spaces included
