Description
This prime Wildwood Boardwalk unit boasts 16.1 feet of direct boardwalk frontage, offering unmatched visibility in one of the areas busiest and most visited locations, just steps from Mariners 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 Wallys Restaurant. At the current asking price and under the existing lease, the property provides a 7% return for investors. Unit 3K is available for $2,299,000 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, resulting in a 6.74% cap rate.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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692SQFT
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$1,032$/SQFT
School Ratings & Info
Description
This prime Wildwood Boardwalk unit boasts 16.1 feet of direct boardwalk frontage, offering unmatched visibility in one of the areas busiest and most visited locations, just steps from Mariners 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 Wallys Restaurant. At the current asking price and under the existing lease, the property provides a 7% return for investors. Unit 3K is available for $2,299,000 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, resulting in a 6.74% cap rate.
Listing information © 2025 Cape May County Association of REALTORS® Multiple Listing Service. Information is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices Fox & Roach, Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2025-11-13T12:49:36.553.