Oversized Triplex with Ocean
For Sale
$1,349,000
4021 Atlantic Avenue, Atlantic City, NJ 08401
Three rented residences with ocean views, residential amenities, and NC-1 zoning.
Property Size6,856 SF
Price / SF$196.76
Days on Market350
Property Features for 4021 Atlantic Avenue
General Information
Standard status
Active
Size
6,856 SF
Property subtype
MULTI-FAMILY / Triplex
Zoning
NC-1
Units
Unit Mix
1 x 6BR/3BA, 1 x 5BR/2BA, 1 x 4BR/2BA
Multifamily Units
3
Additional Details
Gross Income
$102,000
Taxes and HOA fees
Annual Taxes
$15,078
Amenities
Radiator
Disposal, Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Washer
Ceiling Fan(s), Window Units
Deck, Ocean View, Porch-Enclosed, Sprinkler System
Building Details
Buildings
1
Units
3
Listing Agency:
MARKETPLACE REALTY
(401) 440-4755
Listed By:
James Gagnon · License #2550783
(401) 440-4755
Source:
Compass
Added: Sep 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:44AM
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 MARKETPLACE REALTY
Investment Insights
Based on property information with market context.
This two-story triplex contains three separate residences: a six-bedroom, three-bath home, a five-bedroom, two-bath first-floor unit, and a four-bedroom, two-bath upper-level unit. Ocean views are noted from the two-story residence and upper unit. Interior improvements include radiator heat, window units, ceiling fans, a gas stove, refrigerator, dishwasher, disposal, microwave, washer, and dryer. Exterior features include a deck, enclosed porch, and sprinkler system.
The property is one block from the ocean in Atlantic City’s historic Lower Chelsea neighborhood. Stockton University, restaurants, casinos, and the Boardwalk are nearby. NC-1 zoning is also identified for the property, and the sale is subject to its AS-IS condition with the buyer responsible for the certificate of occupancy.
The property is one block from the ocean in Atlantic City’s historic Lower Chelsea neighborhood. Stockton University, restaurants, casinos, and the Boardwalk are nearby. NC-1 zoning is also identified for the property, and the sale is subject to its AS-IS condition with the buyer responsible for the certificate of occupancy.
Key Highlights
- Three residences with a 6 bed, 3 bath home, a 5 bed, 2 bath unit, and a 4 bed, 2 bath unit
- Ocean views from the two‑story residence and upper‑level unit
- NC‑1 zoning identified for the property
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
$78,078
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
5.79%
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%
$1,561,560
$1.6M
Cap Rate 7%
$1,115,400
$1.1M
Cap Rate 9%
$867,533
$867.5K
Market Conditions
NOI Build-Up for 6,856 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
$119.3K $17.40/SF
− Vacancy
−$7.8K −$1.13/SF
EGI
$111.5K $16.27/SF
− OpEx
−$33.5K −$4.88/SF
NOI
$78.1K $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%
$1,561,560
Cap Rate 7%
$1,115,400
Cap Rate 9%
$867,533
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$976.0K – $1.30M
NOI $78,078 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$980.4K
$857.8K – $1.14M
NOI $68,626 @ 7.0% cap · market cap 5.09%
Theoretical Best
Warehouse
$2.55M
$2.23M – $2.98M
NOI $178,719 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rented residences with ocean views, residential amenities, and NC-1 zoning.
Where is this triplex located?
The property is located at 4021 Atlantic Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Three residences with a 6 bed, 3 bath home, a 5 bed, 2 bath unit, and a 4 bed, 2 bath unit; Ocean views from the two‑story residence and upper‑level unit; NC‑1 zoning identified for the property
