2722 Atlantic Avenue, Atlantic City, NJ 08405

Atlantic City
Local realty services provided by:Better Homes and Gardens Real Estate Elite
2722 Atlantic Avenue,Atlantic City, NJ 08405
$3,800,000
  • - Beds
  • - Baths
  • 37,673 sq. ft.
  • Multi-family
  • Active
Listed by: michael brooke
Office: imperial real estate agency
MLS#:22612953
Source:NJ_MOMLS

Price summary

  • Price:$3,800,000
  • Price per sq. ft.:$100.87

About this home

Prime investment opportunity in the heart of Atlantic City! Located at the corner of Atlantic and South Iowa Avenues , this 38-unit mixed-use elevator building sits immediately adjacent to the Tropicana Atlantic City, capturing incredible foot traffic. The 37,673 SF property features 32 residential units and 6 ground-floor retail storefronts. It currently generates a strong 8.60% cap rate on as-is NOI, with a clear path to a 9.55% pro forma cap rate. There is excellent value-add potential through the immediate lease-up of three vacant residential units, rent-control leniency on tenant turnover, and a gas-to-electric heat conversion opportunity. Asking price is $4,100,000.

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Home facts

  • Year built:1930
  • Subdivision & Development:None
  • Listing ID #:22612953
  • Added:92 day(s) ago
  • Updated:August 06, 2026 at 02:22 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Partially Finished, Shared Storage
  • Living area:37,673 sq. ft.

Structure and exterior

  • Year built:1930
  • Building area:37,673 sq. ft.
  • Lot area:0.25 Acres

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$3,800,000
  • Price per sq. ft.:$100.87
  • Tax amount:$57,572 (2025)
IDX information if provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided by Monmouth MLS. Last Updated August 6, 2026

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