It is an honor to announce a mixed used building in Atlantic City, New Jersey just post to market, which is located in a busy shopping center, adjacent to casinos and commercial buildings. The land area is 4238 sq ft, and the building’s area is 8942 sq ft. It contains a total of 7 units, two retail stores on the ground floor, the leases will end in 2029 and 2031, 3% rent increase per year, tenants pay 1/7 of the water bill each; 5 residential units sign lease annually, Apt#1,Apt#2 on the 2nd floor, Apt#3, Apt#4 on 3Rd floor, all of them are 3 beds and 2 bath on each, Apt#5 is 1bed and1 bath on the rear of 1st floor. hot water and heating have been separated, tenants pay for their own utilities. the gross income is $129,660, expenses is about $32,000. The building is well maintenance, easy handling with stable growth income, 8.5% cap rate. it is a great opportunity for investors, the motivated seller is ready to hear all offers.
- Roof Deck:
- Flat
- Where do you want to live:
- 08401
- Street:
- Atlantic
- Street Number:
- 2925
- Street Suffix:
- Avenue
- Floor Number:
- 0
- Longitude:
- W75° 32' 55.5''
- Latitude:
- N39° 21' 9.8''
- Property Sub Type:
- Mixed Use
- Baths Full:
- 0
- DOM:
- 93
- Flooring:
- Other
- Parking Attributes:
- Other
- Commercial Features Exterior:
- Other
- Commercial Features Interior:
- Kitchen
- List Office MLSID:
- 119600
- List Office Name:
- Century 21 Realty First
- List Agent Full Name:
- Benson Huang
- List Agent MLSID:
- BH2758
- Additional Fee:
- $0
- Assessment Fee:
- $0
- Exterior:
- Stucco
- Status:
- Active
- Tax Amount:
- $21,385
Mixed Use For Sale
2925 Atlantic Avenue, Atlantic City, New Jersey 08401
- Property Type :
- Mixed Use
- Listing Type :
- For Sale
- Listing ID :
- 488542
- Price :
- $998,000
- Square Footage :
- 8,942 Sqft
- Year Built :
- 0
- Lot Area :
- 4,238 Sqft
