Four-Unit Shell
For Sale
$520,000
155 W HAND AVENUE, Wildwood, NJ 08260
Legal four-unit layout includes two two-bedroom and two one-bedroom apartments.
Property Size1,948 SF
Price / SF$266.94
Days on Market10
Property Features for 155 W HAND AVENUE
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Building Details
Year Built
1925
Listing Agency:
HomeSmart First Advantage Realty
(856) 363-3000
Listed By:
Hakan Karahan · License #9693664
(856) 363-3000
Source:
Cummingsrealtors
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 9 at 9:35AM
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 HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This 1,948-square-foot quadplex contains four legally configured units: two two-bedroom apartments and two one-bedroom apartments. Built in 1925, the property is currently a shell requiring a complete renovation and is offered in its present as-is condition.
The property is located at 155 W Hand Avenue in Wildwood, NJ, three blocks from the beach and boardwalk. Multiple restaurants, including MudHen and Dog Tooth, are within walking distance. The existing unit configuration provides a defined framework for redevelopment, subject to applicable approvals and construction requirements.
The property is located at 155 W Hand Avenue in Wildwood, NJ, three blocks from the beach and boardwalk. Multiple restaurants, including MudHen and Dog Tooth, are within walking distance. The existing unit configuration provides a defined framework for redevelopment, subject to applicable approvals and construction requirements.
Key Highlights
- Legal four‑unit property with two two‑bedroom and two one‑bedroom units
- 1,948 SF quadplex built in 1925
- Shell condition; complete renovation required
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
$28,834
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
5.55%
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%
$576,680
$576.7K
Cap Rate 7%
$411,914
$411.9K
Cap Rate 9%
$320,378
$320.4K
Market Conditions
NOI Build-Up for 1,948 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
$43.2K $22.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$41.2K $21.15/SF
− OpEx
−$12.4K −$6.34/SF
NOI
$28.8K $14.80/SF
Area
Cape May County, NJ
Vacancy
4.75%
Lease Rate
$22.20 /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%
$576,680
Cap Rate 7%
$411,914
Cap Rate 9%
$320,378
Alternative Uses
Best Use
Multifamily LT 5
$411.9K
$360.4K – $480.6K
NOI $28,834 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,740 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal four-unit layout includes two two-bedroom and two one-bedroom apartments.
Where is this quadplex located?
The property is located at 155 W HAND AVENUE Wildwood, NJ.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Legal four‑unit property with two two‑bedroom and two one‑bedroom units; 1,948 SF quadplex built in 1925; Shell condition; complete renovation required
