Four-Unit Quadplex
For Sale
$520,000
155 W HAND Avenue, Wildwood, NJ 08260
Multi-Family, WILDWOOD, NJ
Property Size1,948 SF
Lot Size0.06 Acres
Price / SF$266.94
Days on Market48
Property Features for 155 W HAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Elementary school district
WILDWOOD CITY SCHOOLS
Middle school district
WILDWOOD CITY SCHOOLS
High school district
WILDWOOD CITY SCHOOLS
Standard status
Active
Size
1,948 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6420
Building Details
Year built
1925
Number of units
1
Listing Agency:
HomeSmart First Advantage Realty · HomeSmart International
(856) 363-3000
Listed By:
Hakan Karahan · License #9693664
(856) 435-3400
Added: Aug 4
Changed: Sep 3
Last Checked: Sep 20 at 4:06PM
MLS# NJCM2007808
Copyright © 2026 Bright 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 1,948-square-foot quadplex contains four legal residential units arranged as two two-bedroom apartments and two one-bedroom apartments. Built in 1925, the property is currently a shell requiring complete renovation and is being offered in as-is, where-is condition. On-street parking is available.
The property is located at 155 W Hand Avenue in Wildwood, approximately three blocks from the beach and boardwalk. Restaurants, including MudHen and Dogtooth, are within walking distance. The 0.0606-acre parcel provides a compact multifamily footprint in a coastal Cape May County setting.
The property is located at 155 W Hand Avenue in Wildwood, approximately three blocks from the beach and boardwalk. Restaurants, including MudHen and Dogtooth, are within walking distance. The 0.0606-acre parcel provides a compact multifamily footprint in a coastal Cape May County setting.
Key Highlights
- Legal four‑unit configuration with two 2‑bedroom and two 1‑bedroom apartments
- 1,948 square feet on a 0.0606‑acre parcel
- 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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open 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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Legal four-unit property requiring complete renovation, with a two-bedroom and one-bedroom unit mix.
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 configuration with two 2‑bedroom and two 1‑bedroom apartments; 1,948 square feet on a 0.0606‑acre parcel; Shell condition; complete renovation required
