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2318 Fairmount Avenue
Atlantic City, NJ 08401
Asking Price
$2.65M
Asset Type
Commercial Mixed-use
Class
Class B
What's Special
Mixed Use | 10,156 SqFt <ul><li>Prime redevelopment opportunity in the heart of Atlantic City positioned within a rapidly evolving mixed-use corridor. </li><li>MURD (Mixed-Use Residential Development) zoning allows for a wide range of potential development uses including:<ul><li>Multifamily residential</li><li>Mixed-use retail/residential</li><li>Live-work concepts</li><li>Hospitality or adaptive reuse opportunities</li></ul></li><li>Large approximately 10,156 SF existing structure creates significant reposition
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NOI
$80,000
Cap Rate
3.02%
DSCR
0.51
Underwater
Cash-on-Cash
-9.73%
Monthly Payment
$13,110.754
Annual Cash Flow
$-77,329.049