OZ Cannabis or Retail & Warehouse REDUCED!!! | 1314-1322 Atlantic Ave
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OZ Cannabis or Retail & Warehouse REDUCED!!! 1314-1322 Atlantic Ave
24,500 SF Retail Building Atlantic City, NJ 08401 $989,000 ($40.37/SF)
INVESTMENT HIGHLIGHTS
- Projected to have a NOI of $238,304 Projected Cap Rate 24.10 COC 49.96%
- Opportunity & Cannabis Zoned - directly across from municipal buildings, high visibility and foot traffic.
- 4 General Retail Stores adn Warehouse or Cannabis Related Businesses
EXECUTIVE SUMMARY
PRICE SLASHED! INVESTOR OPPORTUNITY!
OPPORTUNITY ZONE!!!
Prime Commercial Building on Atlantic Avenue, Atlantic City, NJ - Priced Below Appraisal!
Location: 1314 Atlantic Avenue, Atlantic City, NJ
Type: Commercial Building
Total Size: Approximately 25,000 sq. ft.
Description:
Unbelievable opportunity to own a prime commercial property in the heart of Atlantic City! This expansive building on bustling Atlantic Avenue is priced for immediate sale and offers incredible potential for the right investor. The property is being sold below appraisal and requires some repairs and renovation, making this an ideal value-add opportunity.
Projected Pro Forma with this property shows a 24% CAP Rate and almost 50% Cash-on-Cash Return!
Features:
CAN BE USED AS 4 RETAIL STORES AND WAREHOUSE OR A CANNABIS RELATED BUSINESS OR ANY COMBINATION
Cannabis Investment Opportunity: This property has cannabis resolutions already in place, significantly reducing the time and complexity of obtaining permits. Get your business operational faster!
High-Visibility Location: Situated directly across from the county and city municipal buildings, ensuring maximum exposure and foot traffic.
Versatile Space: Approximately 25,000 sq. ft. with a mix of retail storefronts, a large warehouse (formerly a theater), and potential office space.
Retail Potential: Four retail stores at the front, perfect for capturing pedestrian traffic.
Warehouse/Flex Space: The rear of the building features a massive warehouse space with high ceilings, ideal for a variety of uses.
Investment Highlights:
Priced to Sell: Significant price reduction for a quick sale!
Opportunity Zone - offering significant potential for grants and low-interest loans, as well as tax advantages
Value-Add Opportunity: Renovate and reposition this property to maximize its potential.
Exceptional Pro Forma: Projected 24% CAP rate and nearly 50% cash-on-cash return.
Cannabis Ready: Capitalize on the growing cannabis industry.
Prime Atlantic City Location: Benefit from the city's ongoing revitalization and tourism.
Property requires renovations and repairs
Contact Information:
Marc Singer 609-363-5000 marc@nationalmax.com
Mike Hollander 856-723-3585 mike@nationalmax.com
Don't miss out on this incredible opportunity to own a piece of Atlantic City's commercial landscape at a significantly reduced price. Contact us today to schedule a viewing and discuss the potential of this property!
OPPORTUNITY ZONE!!!
Prime Commercial Building on Atlantic Avenue, Atlantic City, NJ - Priced Below Appraisal!
Location: 1314 Atlantic Avenue, Atlantic City, NJ
Type: Commercial Building
Total Size: Approximately 25,000 sq. ft.
Description:
Unbelievable opportunity to own a prime commercial property in the heart of Atlantic City! This expansive building on bustling Atlantic Avenue is priced for immediate sale and offers incredible potential for the right investor. The property is being sold below appraisal and requires some repairs and renovation, making this an ideal value-add opportunity.
Projected Pro Forma with this property shows a 24% CAP Rate and almost 50% Cash-on-Cash Return!
Features:
CAN BE USED AS 4 RETAIL STORES AND WAREHOUSE OR A CANNABIS RELATED BUSINESS OR ANY COMBINATION
Cannabis Investment Opportunity: This property has cannabis resolutions already in place, significantly reducing the time and complexity of obtaining permits. Get your business operational faster!
High-Visibility Location: Situated directly across from the county and city municipal buildings, ensuring maximum exposure and foot traffic.
Versatile Space: Approximately 25,000 sq. ft. with a mix of retail storefronts, a large warehouse (formerly a theater), and potential office space.
Retail Potential: Four retail stores at the front, perfect for capturing pedestrian traffic.
Warehouse/Flex Space: The rear of the building features a massive warehouse space with high ceilings, ideal for a variety of uses.
Investment Highlights:
Priced to Sell: Significant price reduction for a quick sale!
Opportunity Zone - offering significant potential for grants and low-interest loans, as well as tax advantages
Value-Add Opportunity: Renovate and reposition this property to maximize its potential.
Exceptional Pro Forma: Projected 24% CAP rate and nearly 50% cash-on-cash return.
Cannabis Ready: Capitalize on the growing cannabis industry.
Prime Atlantic City Location: Benefit from the city's ongoing revitalization and tourism.
Property requires renovations and repairs
Contact Information:
Marc Singer 609-363-5000 marc@nationalmax.com
Mike Hollander 856-723-3585 mike@nationalmax.com
Don't miss out on this incredible opportunity to own a piece of Atlantic City's commercial landscape at a significantly reduced price. Contact us today to schedule a viewing and discuss the potential of this property!
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
24,500 SF
Building Class
C
Year Built/Renovated
1940/1980
Price
$989,000
Price Per SF
$40.37
Tenancy
Single
Building Height
3 Stories
Building FAR
2.33
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
CBD - Opportunity Zone !!!! Green Zone Overlay (Cannabis)
Frontage
48’ on Atlantic Ave
Walk Score®
Walker's Paradise (92)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-00145-0000-00007 | Improvements Assessment | $188,000 |
| Land Assessment | $237,000 | Total Assessment | $425,000 |
PROPERTY TAXES
Parcel Number
02-00145-0000-00007
Land Assessment
$237,000
Improvements Assessment
$188,000
Total Assessment
$425,000
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OZ Cannabis or Retail & Warehouse REDUCED!!! | 1314-1322 Atlantic Ave
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