Boardwalk Retail
For Sale
Contact for pricing
3115 Boardwalk, Atlantic City, NJ 08401
Beachfront commercial space with prior restaurant approval and retail use potential.
Property Size1,444 SF
Price / SF$121.12
Days on Market14
Property Features for 3115 Boardwalk
General Information
Standard status
Active
Size
1,444 SF
Property subtype
Retail
Zoning
RS-C
Building Details
Year Built
1957
Stories
2
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield
(609) 816-7644
Listed By:
Raj Khullar · License #NJ 0673568
Source:
Crexi
Added: Aug 8
Changed: Aug 18
Last Checked: Aug 19 at 8:15PM
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 Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield
Investment Insights
Based on property information with market context.
This retail space is positioned directly on the Atlantic City Boardwalk in a beachfront commercial setting. The property carries RS-C zoning and was previously approved for restaurant use, providing a documented basis for that operating concept while supporting consideration of other permitted commercial uses.
The space is part of the Ocean Club Condominium Association, which includes approximately 725 residential units and 29 commercial units. Its address is 3115 Boardwalk, Atlantic City, New Jersey. Constructed in 1957, the property offers a boardwalk-facing setting for a range of retail-oriented business concepts, subject to applicable approvals.
The space is part of the Ocean Club Condominium Association, which includes approximately 725 residential units and 29 commercial units. Its address is 3115 Boardwalk, Atlantic City, New Jersey. Constructed in 1957, the property offers a boardwalk-facing setting for a range of retail-oriented business concepts, subject to applicable approvals.
Key Highlights
- Directly located on the Atlantic City Boardwalk
- Previously approved for restaurant use
- RS‑C zoning
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
$13,873
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
7.93%
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%
$277,460
$277.5K
Cap Rate 7%
$198,186
$198.2K
Cap Rate 9%
$154,144
$154.1K
Market Conditions
NOI Build-Up for 1,444 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
$21.7K $15.00/SF
− Vacancy
−$1.8K −$1.28/SF
EGI
$19.8K $13.73/SF
− OpEx
−$5.9K −$4.12/SF
NOI
$13.9K $9.61/SF
Area
Atlantic County, NJ
Vacancy
8.50%
Lease Rate
$15.00 /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%
$277,460
Cap Rate 7%
$198,186
Cap Rate 9%
$154,144
Alternative Uses
Best Use
Retail
$198.2K
$173.4K – $231.2K
NOI $13,873 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$537.7K
$470.5K – $627.4K
NOI $37,642 @ 7.0% cap · market cap 21.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 23%
Hotels & Casinos 12%
Home Improvements & Furnishings 3%
Sunoco
Shops & Services
13,671 visits/mo
0.5 miles
PNC Bank
Shops & Services
7,052 visits/mo
0.2 miles
7-Eleven
Shops & Services
5,991 visits/mo
0.5 miles
Dollar General
Shops & Services
5,897 visits/mo
0.4 miles
Dunkin' Donuts
Dining
5,824 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Beachfront commercial space with prior restaurant approval and retail use potential.
Where is this retail space located?
The property is located at 3115 Boardwalk Atlantic City, NJ.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Directly located on the Atlantic City Boardwalk; Previously approved for restaurant use; RS‑C zoning
