401 Montgomery AveWildwood, NJ 08260

Property Details for 401 Montgomery Ave

Lot size

0.46 AC

Zone code

TE

Property type

Retail properties

Property subtype

Parking lots & garages

APN

14 00109-0000-00001

APU

1400109000000001

Description

Prime Wildwood, NJ location presents a unique investment opportunity encompassing two distinct properties: a beachfront boardwalk retail complex and a substantial parking lot. The retail complex features four fully leased storefronts totaling 8,400 square feet, complemented by three residential units (two efficiencies and one one-bedroom, one-bathroom apartment). Conveniently located within 1,000 feet of the Wildwood Convention Center, this property also includes public showers and lockers, along with garage and utility storage. The expansive 20,000-square-foot parking lot provides ample parking for 91 vehicles. This exceptional offering presents a compelling opportunity for an owner-user or a developer seeking to capitalize on the high-demand beachfront location. The property's current configuration, with its fully leased retail space and residential units, generates immediate income, while its prime location and substantial size offer significant potential for future development, such as a luxury hotel with integrated retail. The asking price is $8,500,000. The combined lot size is 28,400 square feet. Showings are by appointment only.

• CAP approach

  CAP return

  Valuation

  6%

  $8,499,456

  6.5%

  $7,845,652

  7%

  $7,285,248

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,584,606

  Geo Method

  $6,584,606

• Alternative Use

  Use

  Valuation

  Residential

  $6,618,101

  Hospitality

  $6,062,145

  Educational

  $5,043,634

  Medical

  $5,217,092

  Retail

  $7,845,652

Location Insight

City

Wildwood

County

Cape May

State

New Jersey

Latitude

38.9831

Longitude

-74.8166

CBSA code

36140

CBSA name

OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].