Updated Duplex with Studio
New
For Sale
$430,000
1532 Emerson Ave, Atlantic City, NJ 08401
Two vacant residences provide flexible occupancy options, complemented by a converted garage studio and recent system improvements.
Property Size2,531 SF
Price / SF$169.89
Days on Market6
Property Features for 1532 Emerson Ave
General Information
Standard status
Active
Size
2,531 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Levin Commercial Real Estate, LLC
Listed By:
Ben Kruse
(609) 204-7891
Source:
Choosekruse
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 7:20AM
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 Levin Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
Located at 1532 Emerson Avenue in Atlantic City’s Venice Park neighborhood, this 2,531-square-foot duplex was built in 1900 and includes two vacant residential units. The first-floor residence has three bedrooms and two full bathrooms, while the second-floor unit includes two bedrooms and one bathroom. Both units have been recently updated and are presented in clean condition.
A converted garage adds separate studio space that can support a home office, guest accommodation, or personal workspace. Property improvements include a newer roof and updated mechanical systems. The residential setting is minutes from Atlantic City beaches, dining, casinos, and transit, providing access to established coastal-area amenities while retaining a neighborhood setting.
A converted garage adds separate studio space that can support a home office, guest accommodation, or personal workspace. Property improvements include a newer roof and updated mechanical systems. The residential setting is minutes from Atlantic City beaches, dining, casinos, and transit, providing access to established coastal-area amenities while retaining a neighborhood setting.
Key Highlights
- 2,531‑square‑foot duplex in Atlantic City’s Venice Park neighborhood
- First‑floor unit with 3 bedrooms and 2 full bathrooms
- Second‑floor unit with 2 bedrooms and 1 bathroom
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
$28,824
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
6.70%
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%
$576,480
$576.5K
Cap Rate 7%
$411,771
$411.8K
Cap Rate 9%
$320,267
$320.3K
Market Conditions
NOI Build-Up for 2,531 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
$44.0K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.2K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$28.8K $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 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%
$576,480
Cap Rate 7%
$411,771
Cap Rate 9%
$320,267
Alternative Uses
Best Use
Multifamily LT 5
$411.8K
$360.3K – $480.4K
NOI $28,824 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$361.9K
$316.7K – $422.3K
NOI $25,335 @ 7.0% cap · market cap 5.89%
Theoretical Best
Warehouse
$942.5K
$824.7K – $1.10M
NOI $65,977 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
338
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences provide flexible occupancy options, complemented by a converted garage studio and recent system improvements.
Where is this duplex located?
The property is located at 1532 Emerson Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2,531‑square‑foot duplex in Atlantic City’s Venice Park neighborhood; First‑floor unit with 3 bedrooms and 2 full bathrooms; Second‑floor unit with 2 bedrooms and 1 bathroom
