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$ 714,000
Est. payment | /mo
692 SqFt
$ 714,000
Est. payment | /mo
692 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 692 sqft
Price per Sqft $1,031
MLS Listing ID 253064
Annual Tax Amount $12,477
Tax Year 2024
Lot Dimensions 48800
Property Sub-Type Retail
Property Description
This prime Wildwood Boardwalk unit boasts 16.1 feet of direct boardwalk frontage, offering unmatched visibility in one of the area's busiest and most visited locations, just steps from Mariner's Pier. The property is currently under a $50,000 NNN lease, set to run through 2027 with a five-year extension option, making it a solid investment opportunity. Previously home to a basketball game, this space is now part of Wally's Restaurant. At the current asking price and under the existing lease, the property provides a 7% return for investors. Unit 3K is available for $2,099,000 and generates $155,000 in annual rental income, including $140,000 from the same lease terms with the same tenant and $15,000 from a Coca-Cola lease for the iconic sign.
Location
State NJ
County Cape May County
Area Wildwood
Zoning BA-1
Location Details Business District,Boardwalk
Interior
Heating No Heating
Cooling Central Air Conditioning, Wall Air Conditioning
Exterior
Parking Features 1 To 5 Spaces
Building
Lot Description Business District, Boardwalk
Story 1
Sewer City
Water City
Listed by DON MARTIN REALTY, INC
NEARBY SCHOOLS & PROPERTIES
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Beata Lagares
Agent | License ID: 1862650