Brick Duplex with Private
For Sale
$309,900
711 ADRIATIC Avenue, Atlantic City, NJ 08401
MULTI_FAMILY - Other - ATLANTIC CITY, NJ
Property Size1,980 SF
Lot Size0.07 Acres
Price / SF$156.52
Days on Market69
Property Features for 711 ADRIATIC Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Subdivision
ATLANTIC CITY
Elementary school district
ATLANTIC CITY SCHOOLS
Middle school district
ATLANTIC CITY SCHOOLS
High school district
ATLANTIC CITY SCHOOLS
Standard status
Active
Size
1,980 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5891
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Amenities
private driveway
spacious backyard
back porch
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty - Atlantic Shore
(609) 484-9890
Listed By:
Flamur Rama · License #457770
(609) 703-9208
Added: Jun 4
Changed: Aug 11
Last Checked: Aug 11 at 10:06PM
MLS# NJAC2024830
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,980-square-foot brick duplex contains two separate residences and is fully occupied. The lower unit includes 2 bedrooms and 1 bathroom, while the upper unit provides 3 bedrooms and 1 bathroom. The upper residence features wood-look flooring, a neutral interior palette, white kitchen cabinetry, and gas cooking. Window units provide cooling, and the property has other heating equipment.
Built in 1900, the home sits on 0.0683 acres at 711 Adriatic Avenue in Atlantic City. Exterior improvements include a private driveway, backyard, and back porch. The property is positioned near local parks, playgrounds, and the boardwalk, providing walkable access to nearby recreational destinations.
Built in 1900, the home sits on 0.0683 acres at 711 Adriatic Avenue in Atlantic City. Exterior improvements include a private driveway, backyard, and back porch. The property is positioned near local parks, playgrounds, and the boardwalk, providing walkable access to nearby recreational destinations.
Key Highlights
- Fully occupied brick duplex with 1,980 square feet of property size
- Lower unit offers 2 bedrooms and 1 bathroom
- Upper unit includes 3 bedrooms and 1 bathroom
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
$22,549
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
7.28%
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%
$450,980
$451.0K
Cap Rate 7%
$322,129
$322.1K
Cap Rate 9%
$250,544
$250.5K
Market Conditions
NOI Build-Up for 1,980 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
$34.5K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$32.2K $16.27/SF
− OpEx
−$9.7K −$4.88/SF
NOI
$22.5K $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%
$450,980
Cap Rate 7%
$322,129
Cap Rate 9%
$250,544
Alternative Uses
Best Use
Multifamily LT 5
$322.1K
$281.9K – $375.8K
NOI $22,549 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$283.1K
$247.7K – $330.3K
NOI $19,819 @ 7.0% cap · market cap 6.40%
Theoretical Best
Warehouse
$737.3K
$645.2K – $860.2K
NOI $51,614 @ 7.0% cap · market cap 16.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
727
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?
Duplex - Fully occupied two-unit residence with a backyard, rear porch, and walkable access to parks, playgrounds, and the boardwalk.
Where is this duplex located?
The property is located at 711 ADRIATIC Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Fully occupied brick duplex with 1,980 square feet of property size; Lower unit offers 2 bedrooms and 1 bathroom; Upper unit includes 3 bedrooms and 1 bathroom
