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$ 2,813,000
Est. payment | /mo
4,538 SqFt
$ 2,813,000
Est. payment | /mo
4,538 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 4,538 sqft
Price per Sqft $619
MLS Listing ID 262854
Annual Tax Amount $39,512
Tax Year 2025
Lot Dimensions 48800
Property Sub-Type Retail
Property Description
Prime Wildwood Boardwalk investment opportunity featuring Units 3J and 3K, with a combined 47 feet of direct Boardwalk frontage in one of the Wildwoods' busiest and most visited locations, directly across from Mariner's Pier. Located in an area that could be described as the "Times Square" of the Wildwood Boardwalk, these two units offer exceptional visibility and exposure. The property was formerly home to Harry's Corner and is now occupied by Wally's Restaurant under NNN lease agreements totaling $190,000 annually, which expires in 2027 and includes a five-year extension options. Unit 3K features 30.9 feet of direct Boardwalk, an additional 54.3 feet along Cedar Avenue Boardwalk, and generates $140,000 annually under the existing NNN lease. Unit 3J offers an additional 16.1 feet of direct Boardwalk frontage and generates $50,000 annually under the same lease terms and tenant. Unit 3k also features the iconic Coca-Cola sign, a well-known Wildwood Boardwalk landmarks, which generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. The owner is responsible for the sign's electricity, estimates at approximately $2,500 annually. Together, the units generate $205,000 in annual gross rental income, including the $190,000 from Wally's Restaurant and $15,000 from the Coca-Cola sign. At the combined asking price of $2,813,000, the property offers approximately a 7.27% return based on the current lease income and terms. A rare opportunity to acquire two contiguous Boardwalk units with strong frontage, established tenancy, and prominent visibility in the heart of the Wildwood Boardwalk.
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
Sewer City
Water City
Listed by DON MARTIN REALTY, INC
Nearby Locations
Scott Zielinski
REALTOR® License ID: NJ - 1645364 | PA - RS339644
+1(856) 264-8671 | scott@zhomesrealestate.com