Renovated Triplex with Private
For Sale
$890,000
42 S Delancy Pl, Atlantic City, NJ 08401
Three residential units offer flexible occupancy options near the shoreline, boardwalk, dining, entertainment, and public transportation.
Property Size2,551 SF
Price / SF$348.88
Days on Market27
Property Features for 42 S Delancy Pl
General Information
Standard status
Active
Size
2,551 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1925
Buildings
1
Listing Agency:
BHHS FOX and ROACH-Northfield
(609) 892-8888
Listed By:
JESSICA NGAN, ABR · License #SP1861934
Source:
Southjerseyshorehomesfinder
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 4:55PM
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 BHHS FOX and ROACH-Northfield
Investment Insights
Based on property information with market context.
This legal triplex contains 2,551 square feet and was renovated within the last five years. The lower residence includes two bedrooms, a full bath, living and dining rooms, and a kitchen. The main residence spans the primary and upper levels with living and dining areas, a kitchen, sunroom, bonus rooms, rear deck access, and four bedrooms across the layout, including an upper sleeping area with a full bath. The third-floor unit provides two bedrooms, a full bath, and a sitting area combined with an eat-in kitchen. Electric service serves the top-floor unit.
A private driveway accommodates three or more vehicles, with additional street parking available. The property at 42 S Delancy Pl is approximately 1.5 blocks from the shoreline and offers access to the boardwalk, beaches, restaurants, entertainment venues, local attractions, and public transportation. With no current lease obligations, occupancy arrangements can be structured around owner use, seasonal occupancy, or rental operations, subject to buyer and tenant agreements.
A private driveway accommodates three or more vehicles, with additional street parking available. The property at 42 S Delancy Pl is approximately 1.5 blocks from the shoreline and offers access to the boardwalk, beaches, restaurants, entertainment venues, local attractions, and public transportation. With no current lease obligations, occupancy arrangements can be structured around owner use, seasonal occupancy, or rental operations, subject to buyer and tenant agreements.
Key Highlights
- Legal triplex totaling 2,551 square feet
- Renovated within the last five years
- Three distinct residential units with flexible layouts
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
$29,052
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
3.26%
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%
$581,040
$581.0K
Cap Rate 7%
$415,029
$415.0K
Cap Rate 9%
$322,800
$322.8K
Market Conditions
NOI Build-Up for 2,551 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
$44.4K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.5K $16.27/SF
− OpEx
−$12.5K −$4.88/SF
NOI
$29.1K $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%
$581,040
Cap Rate 7%
$415,029
Cap Rate 9%
$322,800
Alternative Uses
Best Use
Multifamily LT 5
$415.0K
$363.2K – $484.2K
NOI $29,052 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,535 @ 7.0% cap · market cap 2.87%
Theoretical Best
Warehouse
$950.0K
$831.2K – $1.11M
NOI $66,498 @ 7.0% cap · market cap 7.47%
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
849
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 residential units offer flexible occupancy options near the shoreline, boardwalk, dining, entertainment, and public transportation.
Where is this triplex located?
The property is located at 42 S Delancy Pl Atlantic City, NJ.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Legal triplex totaling 2,551 square feet; Renovated within the last five years; Three distinct residential units with flexible layouts
