Atlantic City Redevelopment
2318 Fairmount Avenue, Atlantic City, NJ 08400
For Sale
$2,500,000
Two-story mixed-use property with redevelopment potential in Atlantic City.
Property Size10,156 SF
Price / SF$246.16
Days on Market207
Property Features for 2318 Fairmount Avenue
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Display Window
Off Street
On Site
Space Heater Heating
Building Details
Year Built
Listing Agency:
RE/MAX ONE REALTY
(856) 866-2525
Listed By:
JAMES PERDIGAO · License #2296334
(215) 485-7279
Source:
Corcoran
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 25 at 5:34AM
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 RE/MAX ONE REALTY
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Investment Insights
Based on property information with market context.
Located at 2318 Fairmount Avenue in Atlantic City, this two-story property presents a redevelopment opportunity. The property is zoned MURD (Mixed-Use Residential Development), making it suitable for investors or developers. The first floor is currently operating as an auto body shop, offering immediate usability or income potential. The second floor is a blank canvas, ready for residential units, office space, or a mixed-use concept. The property is located just off the highway as you enter Atlantic City, providing accessibility and visibility. It is also located in close proximity to the Atlantic City Boardwalk, Atlantic City Beach, and casinos. The property size is 10156 square feet.
Key Highlights
- Prime redevelopment opportunity in the heart of Atlantic City.
- MURD zoning allows for versatile development options.
- Excellent accessibility and visibility, positioned just off the highway entering Atlantic City.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$218,023
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,360,460
$4.4M
Cap Rate 7%
$3,114,614
$3.1M
Cap Rate 9%
$2,422,478
$2.4M
Market Conditions
NOI Build-Up for 10,156 SF
Gross rent
$340.0K $33.48/SF
− Vacancy
−$28.6K −$2.81/SF
EGI
$311.5K $30.67/SF
− OpEx
−$93.4K −$9.20/SF
NOI
$218.0K $21.47/SF
Area
Atlantic County, NJ
Vacancy
8.40%
Lease Rate
$33.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,360,460
Cap Rate 7%
$3,114,614
Cap Rate 9%
$2,422,478
Alternative Uses
Best Use
Industrial
$3.11M
$2.73M – $3.63M
NOI $218,023 @ 7.0% cap · market cap 8.72%
Second Best
Mixed Use
$2.15M
$1.89M – $2.51M
NOI $150,817 @ 7.0% cap · market cap 6.03%
Theoretical Best
Warehouse
$3.78M
$3.31M – $4.41M
NOI $264,742 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,296
Businesses Nearby
442k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 45%
Hotels & Casinos 24%
Dining 22%
Shops & Services 7%
Caesars Entertainment
Hotels & Casinos
88,337 visits/mo
0.4 miles
Bass Pro Shops
Apparel
57,263 visits/mo
0.2 miles
McDonald's
Dining
46,682 visits/mo
0.2 miles
Circle K
Shops & Services
19,455 visits/mo
0.2 miles
Sheraton Atlantic City Convention Center Hotel
Hotels & Casinos
18,372 visits/mo
0.2 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Atlantic County, NJ
Properties on Market for Mixed-use properties in Atlantic County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use property with redevelopment potential in Atlantic City.
Where is this mixed-use property located?
The property is located at 2318 Fairmount Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in the heart of Atlantic City.; MURD zoning allows for versatile development options.; Excellent accessibility and visibility, positioned just off the highway entering Atlantic City.
