112 Park PlAtlantic City, NJ 08401

Property Details for 112 Park Pl

Year built

1996

Lot size

0.67 AC

Zone code

RS-C

Property type

Office properties

Property subtype

Office buildings

APN

02 00044-0000-00001

APU

200044000000001

Description

This exceptional Atlantic City property, located at 112 Park Place (cross street: Pacific Ave), offers multiple office spaces within a historic building. The building, a three-story structure with elevators, features a total of 18,330 square feet of vacant space, divisible into units ranging from 3,130 to 11,900 contiguous square feet. The zoning is RS-C. The available space is suitable for executive and traditional office uses, as well as storefront retail. Amenities include a backup generator, parking garage, and proximity to a beach. The building boasts a connection to Bally's Casino via an enclosed gateway on the second floor. Additional amenities include a conference/convention center, four restaurants, optional sledge cards, and a workout facility. This is a rare opportunity to lease space in a landmark building with a rich history, having hosted numerous notable figures. The lease rate is $20 per square foot, plus utilities. The property is located in Atlantic County, New Jersey, zip code 08401. This is one of the last remaining architectural masterpieces from the Boardwalk Empire era.

• CAP approach

  CAP return

  Valuation

  6%

  $9,380,972

  6.5%

  $8,659,359

  7%

  $8,040,834

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,804,819

  Geo Method

  $3,804,819

• Alternative Use

  Use

  Valuation

  Residential

  $10,737,605

  Hospitality

  $9,835,589

  Educational

  $8,183,094

  Medical

  $8,464,524

  Retail

  $12,729,258

Location Insight

City

Atlantic City

County

Atlantic

State

New Jersey

Latitude

39.3579

Longitude

-74.4328

CBSA code

12100

CBSA name

ATLANTIC CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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