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    Woodbine Multifamily Property with Units Title is generated by Realmo AI

    536-538 Adams Avenue, Woodbine, NJ 08270

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    For Sale
    $425,000

    MULTI_FAMILY - Woodbine, NJ

    Added:
    May 1, 2026
    Days on Market:
    21
    Last Refresh:
    May 21 at 8:06 pm

    Property Features for 536-538 Adams Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    TC
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 2, Bedroom 5, Bathroom 3, Laundry Room, Bedroom 3, Bedroom 4, Dining Room, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 1, Bathroom 1
    Parking features
    Driveway
    Exterior features
    Sidewalks
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3960

    Utilities

    Heating system
    Natural Gas, Baseboard, Space Heater, Heat Pump (Heating), Forced Air
    Cooling system
    Ceiling Fan(s)

    Building Details

    Year built
    1948
    Number of units
    3

    We can help!

    Listing Contact
    Scott Kurkowski

    Listing agent Scott Kurkowski License #1861048

    Listing office BLUE HOMES REAL ESTATE LLC 3413 Pacific Ave, NJ

    Listing date May 1, 2026

    MLS# 261158 Listing URL

    Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Three units provide multiple income streams or living options.
    • Currently generating $3,050 per month in rental income.
    • Each unit is separately metered for electric and gas.
    • Conveniently located next door to a new park.
    • Duplex includes a 2‑level, 2‑bedroom, 2‑bathroom unit.
    • House includes a large utility/laundry room.

    Overview

    This property features three units in Woodbine, New Jersey, situated next to a new park. The property includes two buildings: a duplex and a single-family house. The duplex contains a first-floor unit with two bedrooms, one bathroom, a large kitchen/living area, laundry space, and an extra storage room. The second floor of the duplex features a two-level unit with two bedrooms and two bathrooms. The adjacent house has two bedrooms, one bathroom, a spacious kitchen, and a large utility/laundry room. Each unit has separate electric and gas meters. All units are currently occupied by tenants on month-to-month leases, generating a total of $3,050 per month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Pharmacy Skin Care Clinic Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodbine
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.8157887
    Latitude
    39.2398998

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    FAQs

    What type of property is this?
    Multifamily property - Three units in two buildings near Woodbine park.
    Where is this multifamily property located?
    The property is located at 536-538 Adams Avenue Woodbine, NJ.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Three units provide multiple income streams or living options.; Currently generating $3,050 per month in rental income.; Each unit is separately metered for electric and gas.
    (609) 425-5952
    We can help!
    Listing Contact
    Scott Kurkowski
    Real Estate License ID: 1861048
    Learn More
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    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
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