NJ > Cape May Court House
Cape May Court House, NJ 08210,405 N Wildwood Boulevard
Cape May Court House, NJ 08210,405 N Wildwood Boulevard
Cape May Court House, NJ 08210,405 N Wildwood Boulevard
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Graceann Tinney

Graceann Tinney

+1(267) 373-8244
$1,471,000
Est. payment /mo
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Key Details

Property Type Commercial

Sub Type Motel

Listing Status Active

Purchase Type For Sale

MLS Listing ID 240607

Annual Tax Amount $12,460

Tax Year 2022

Lot Dimensions 222 X 216

Property Sub-Type Motel

Property Description

INVESTOR OPPORTUNITY!! Package deal. Located at 405 N Wildwood Blvd right off the Garden State Parkway, the property is a former hotel that was converted to multifamily apartments. The property has been fully renovated including new mechanicals and is ready with 13 Market Rate apartments (11 efficiencies, 1 - one bed, 1 - three bed). The building's construction with all units being first floor walk-ins, having on-site laundry, and room for additional storage units will add to its appeal. This property will allow an investor to capture full market rents and add significant value through lease-up in a rental area with huge demand. N Wildwood Blvd benefits from its close proximity to North Wildwood's beaches and extended shoulder season to bolster Airbnb models. To the west, Burleigh is aggressively developing commercial real estate which may interest investors in also purchasing 401 N Wildwood Blvd on this same parcel. Netting 222' of frontage and 1.08 AC of dry land opens up a number of additional opportunities in a high traffic, high visibility area.

Location

State NJ

County Cape May County

Area Cape May Court House

Zoning TB

Interior

Heating Electric

Cooling Wall Air Conditioning

Building

Sewer Septic

Water Well

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Listed by BLUE HOMES REAL ESTATE LLC

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agent

Graceann Tinney

Agent | RSRS344523

+1(267) 373-8244

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405 N Wildwood Boulevard

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