First-Floor Two-Bedroom Income
For Sale
$166,000
Pending
5517 SUFFOLK COURT #R4, Ventnor City, NJ 08406
Vacant condo with assigned parking and a private courtyard-facing entrance.
Property Size827 SF
Days on Market129
Property Features for 5517 SUFFOLK COURT #R4
General Information
Standard status
Pending
Size
827 SF
Property subtype
Apartment
Building Details
Building Size
827 SF
Year Built
1972
Listing Agency:
Keller Williams Realty - Wildwood Crest
Listed By:
Angela V Desch
(609) 729-2100
Source:
Anthonychiolo.kw
Added: Apr 28
Changed: Sep 2
Last Checked: Aug 31 at 12:35PM
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 Keller Williams Realty - Wildwood Crest
Investment Insights
Based on property information with market context.
Built in 1972, this first-floor, two-bedroom condominium offers a private entry oriented toward the community courtyard. The residence includes a contemporary kitchen with granite counters and stainless-steel appliances, an updated bathroom, and an in-unit washer and dryer that are one year old. The primary bedroom accommodates a king-size bed, while ample closet space supports everyday storage. An assigned parking space is positioned near the rear entrance, and the unit is vacant for immediate occupancy.
The property is near shopping, restaurants, Ventnor Beach, and the boardwalk. Fishing, kayaking, and jet-skiing are available within a short walk at Ski Beach. The condo fee covers heat, water, sewer, flood insurance, maintenance, and management.
The property is near shopping, restaurants, Ventnor Beach, and the boardwalk. Fishing, kayaking, and jet-skiing are available within a short walk at Ski Beach. The condo fee covers heat, water, sewer, flood insurance, maintenance, and management.
Key Highlights
- First‑floor, two‑bedroom condo built in 1972
- Vacant and available for immediate occupancy
- Granite kitchen counters with stainless‑steel appliances
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
$8,278
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
4.99%
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%
$165,560
$165.6K
Cap Rate 7%
$118,257
$118.3K
Cap Rate 9%
$91,978
$92.0K
Market Conditions
NOI Build-Up for 827 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
$16.0K $19.32/SF
− Vacancy
−$927 −$1.12/SF
EGI
$15.1K $18.20/SF
− OpEx
−$6.8K −$8.19/SF
NOI
$8.3K $10.01/SF
Area
Atlantic County, NJ
Vacancy
5.80%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
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%
$165,560
Cap Rate 7%
$118,257
Cap Rate 9%
$91,978
Alternative Uses
Best Use
Apartment 5plus
$118.3K
$103.5K – $138.0K
NOI $8,278 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$308.0K
$269.5K – $359.3K
NOI $21,558 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 08406, NJ
9,188
Population
7,772
Households
1.2
Avg Household Size
51
Median Age
38%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
4,594
Density / Sq Mi
$75,034
Median Household Income
$51,057
Median Earnings
$1,460
Median Rent
$345,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Vacant condo with assigned parking and a private courtyard-facing entrance.
Where is this residential income property located?
The property is located at 5517 SUFFOLK COURT #R4 Ventnor City, NJ.
What is the asking price?
The asking price for this property is $166,000.
What are key features of this property?
This property features: First‑floor, two‑bedroom condo built in 1972; Vacant and available for immediate occupancy; Granite kitchen counters with stainless‑steel appliances
