Two-Unit
New
For Sale
$600,000
212 N Suffolk Ave, Ventnor Heights, NJ 08406
Two residential units are leased together through March 2028, with tenants responsible for utilities and routine exterior upkeep.
Property Size2,000 SF
Days on Market5
Property Features for 212 N Suffolk Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Duplex
Additional Details
Gross Income
$38,400
Multifamily Units
2
Building Details
Building Size
2,000 SF
Year Built
1929
Tenancy
Single
Listing Agency:
New and Modern
Listed By:
Orkeem Davis
Source:
Anthonychiolo.kw
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 8 at 3:31AM
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 New and Modern
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,000 square feet and was built in 1929. Both residences are currently occupied under a single lease scheduled to run through March 2028, providing one shared lease structure for the property. Tenants pay their own utilities and handle basic upkeep, including landscaping and snow removal.
The property is located at 212 N Suffolk Ave in Ventnor Heights, New Jersey. It is being offered in its current condition, with the existing tenancy and operating arrangements carrying forward as part of the property’s present setup.
The property is located at 212 N Suffolk Ave in Ventnor Heights, New Jersey. It is being offered in its current condition, with the existing tenancy and operating arrangements carrying forward as part of the property’s present setup.
Key Highlights
- Two‑unit duplex with approximately 2,000 square feet
- Both units covered by one lease expiring in March 2028
- Tenants pay their own utilities
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
$22,777
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
3.80%
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%
$455,540
$455.5K
Cap Rate 7%
$325,386
$325.4K
Cap Rate 9%
$253,078
$253.1K
Market Conditions
NOI Build-Up for 2,000 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
$34.8K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.5K $16.27/SF
− OpEx
−$9.8K −$4.88/SF
NOI
$22.8K $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%
$455,540
Cap Rate 7%
$325,386
Cap Rate 9%
$253,078
Alternative Uses
Best Use
Multifamily LT 5
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$286.0K
$250.2K – $333.7K
NOI $20,019 @ 7.0% cap · market cap 3.34%
Theoretical Best
Warehouse
$744.8K
$651.7K – $868.9K
NOI $52,135 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 08406, NJ
9,188
Population
7,772
Households
1.2
Avg Household Size
51
Median Age
38%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
4,594
Density / Sq Mi
$75,034
Median Household Income
$51,057
Median Earnings
$1,460
Median Rent
$345,300
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?
Duplex - Two residential units are leased together through March 2028, with tenants responsible for utilities and routine exterior upkeep.
Where is this duplex located?
The property is located at 212 N Suffolk Ave Ventnor Heights, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,000 square feet; Both units covered by one lease expiring in March 2028; Tenants pay their own utilities
