30 Albany Ave Atlantic City, NJ 08401-3509

Property Details for 30 Albany Ave

Year built

1980

Construction

BRICK

Lot size

0.17 lot acres

Property size

7,275 SF

Zone code

NC-2

Property type

Commercial real estate

APN

02 00239-0000-00002

APU

200239000000002

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General store in Atlantic City, NJ. The 6,959 square foot building, situated on a 0.17-acre lot at 30 Albany Ave (APN 02 00239-0000-00002), boasts a newly renovated interior and roof (2023) with a transferable warranty. The property benefits from a strong 9.5-year net lease (NNN) with a corporate guarantee from Dollar General Corporation (S&P: BBB), featuring 10% rent increases at the beginning of each of the two 5-year lease options. The property enjoys a prime, infill location, just off US Hwy 40 and three blocks from the Atlantic City boardwalk, two miles from downtown, and across from Stockton University's Atlantic City campus (opened Fall 2018, over 1300 students). The 100% occupancy and strong demographics within a 5-mile radius contribute to a compelling 7.00% cap rate and a substantial NOI of $137,500. The asking price is $1,964,000 ($282.22/sq ft). Built in 1980, this one-story building is zoned commercial and represents a rare opportunity in a high-demand location. The property's limited landlord responsibilities and the financial strength of the tenant make this an attractive, low-risk investment.

Location Insight

City

Atlantic City

County

Atlantic

State

New Jersey

Longitude

-74.4558

Latitude

39.3519

CBSA code

12100

CBSA name

ATLANTIC CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments