$675,000
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325 Atlantic Avenue Atlantic City, NJ 08401 Municipality: Atlantic City
Mixed Use
Residence
Beds
Baths
...
Bed/Bath
2,405
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
**ATTENTION INVESTORS** Located in a prime area of Atlantic City, 325 Atlantic Ave is a fully renovated mixed-use commercial property offering an excellent investment opportunity. The building features three well-maintained residential apartments and a fully-leased commercial space on the first floo...r. Recent updates include a brand new roof and extensive renovations to all major systems within the past two years, minimizing future maintenance costs. The residential units consist of a 1-bedroom plus den, 1-bath apartment on the first floor, rented for $1,200/month; a 2-bedroom, 1-bath apartment on the second floor, rented for $1,450/month; and a 2-bedroom, 1-bath apartment on the third floor, rented for $1,400/month. All apartments are tenant-occupied, with each lease being month-to-month. The commercial space is leased to a 24/7 take-out restaurant for $2,000/month on a 5-year lease, with a 5% rent increase per year! With a total gross income of $72,600 and a net operating income (NOI) of $61,138, this property presents a solid 9% cap rate. The building’s operating expenses include taxes of $4,902/year, insurance at approximately $5,000/year, and shared sewer/water costs totaling around $1,200/year. Additionally, electric and gas are separately metered for each unit, with tenants responsible for heat and hot water. The property is strategically located in a high-traffic area of Atlantic City, just minutes from the iconic Atlantic City Boardwalk, world-class casinos, and entertainment venues. It’s an optimal location for long-term growth, with proximity to major highways and public transportation, making it a highly desirable area for both residential tenants and commercial ventures. With a thriving tourism industry and a growing demand for housing and retail in Atlantic City, this property represents a unique opportunity to own a fully-renovated, income-generating asset in one of New Jersey’s most dynamic markets. Contact us today to schedule a private showing or for more information!
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MLS#
NJAC2016856
Property Type
Mixed Use
Year Built
1950
Square Feet
2,405
sq. ft
Price per Sq. Ft.
$280.67
Sewer
Public Sewer
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