Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Atlantic City Multifamily Property Title is generated by Realmo AI

    38 N Kentucky Ave, Atlantic City, NJ 08401

    View on Map
    Claim this Listing
    For Sale
    $330,000

    COMMERCIAL - Atlantic City, NJ

    Added:
    Apr 12, 2025
    Days on Market:
    416
    Last Refresh:
    Jun 1 at 10:06 am

    Property Features for 38 N Kentucky Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CRDA
    Rooms
    Laundry Room, Office
    Interior features
    220 Volt Electricity, Restroom, Smoke/Fire Alarm
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7740

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    2
    Flooring type
    Concrete
    Roof type
    Asphalt, Flat

    We can help!

    Listing Contact
    GLENN CAYME

    Listing agent GLENN CAYME License #0791091

    Listing office CAYME REALTY LLC 145 W WHITE HORSE PIKE, HAMMONTON, NJ

    Listing date Apr 12, 2025

    MLS# 606627

    Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Newly restored property.
    • New HVAC and water heater.
    • Updated wiring.
    • Appraised last year for $340K.
    • Includes office and laundry room.
    • New safety door.

    Overview

    This multifamily property is located in Atlantic City, New Jersey. The property features updated wiring, a new safety door, a new HVAC system, and a new water heater. The property was recently restored and was appraised last year for $340,000. The zoning is CRDA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fast taxi Freight Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Atlantic City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.431523
    Latitude
    39.3623117

    Nearby Similar for Sale

    • $449,999
      5,300 SF

      Prime Retail/Mixed-Use Opportunity

      High-visibility corner location perfect for retail, recreation, or mixed-use.
      2524 Arctic Ave, Atlantic City, NJ 08401
      View Details
    • $440,000
      2,707 SF

      Waterfront Duplex in Chelsea Heights

      Turnkey 2-family property in Atlantic City's Chelsea Heights.
      1830 E Riverside Drive, Atlantic City, NJ 08400
      View Details
    • $990,000

      Atlantic City Motel Investment Opportunity

      Turn-key 25-unit motel with commercial space near Tropicana Casino.
      2741 Pacific Ave, Atlantic City, NJ 08401
      View Details
    • $990,000

      Atlantic City Motel with Commercial

      Turn-key motel with commercial space near Tropicana Casino.
      2741 Pacific Ave, Atlantic City, NJ 08401
      View Details
    • $449,999

      Prime Atlantic City Commercial Hotspot

      Bustling corner location ideal for retail, recreation, or mixed-use.
      2524 Arctic Ave Ave, Atlantic City, NJ 08401
      View Details
    • $990,000
      10,000 SF

      Atlantic City Motel Investment Opportunity

      Turn-key, renovated 25-unit motel with commercial space for sale.
      2741 PACIFIC AVENUE, ATLANTIC CITY, NJ 08401
      View Details
    • $650,000

      Turnkey Atlantic City Two-Family

      Two-unit property with strong short-term rental income potential.
      117 SEASIDE AVE, Atlantic City, NJ 08401
      View Details
    • $499,000
      5,000 SF

      Atlantic City Commercial Property For Sale

      Commercial property in a high-traffic area, suitable for various uses.
      3207 Atlantic Ave, Atlantic City, NJ 08401
      View Details
    • $800,000

      Atlantic City Bar & Restaurant

      Established bar and restaurant with liquor license and development potential.
      3207-3209 Fairmount Ave, Atlantic City, NJ 08401
      View Details
    • $1,600,000
      10,000 SF

      Atlantic City Commercial Opportunity

      Versatile commercial space with high visibility and ample parking.
      508 Atlantic Ave, Atlantic City, NJ 08401
      View Details
    • $699,900

      Mixed-Use Property Near Beach

      Mixed-use property near the beach and boardwalk in Atlantic City.
      4215-17 Ventnor Ave, Atlantic City, NJ 08401
      View Details
    • $890,000

      Renovated Triplex Near Beach

      Fully renovated triplex near the beach and boardwalk.
      42 S Delancy Place, Atlantic City, NJ 08401
      View Details

    FAQs

    What type of property is this?
    Duplex - Multifamily property in Atlantic City with recent upgrades.
    Where is this duplex located?
    The property is located at 38 N Kentucky Ave Atlantic City, NJ.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: Newly restored property.; New HVAC and water heater.; Updated wiring.
    (941) 524-2752
    We can help!
    Listing Contact
    GLENN CAYME
    Real Estate License ID: 0791091
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    38 N Kentucky Ave, Atlantic City, NJ 08401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!