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Type: Retail |
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LOT:
48800 |
| Taxes: 27034.8
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| Area: Wildwood
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| PROPERTY DESCRIPTION |
| 3400 Boardwalk is located in an area that could be described as the Times Square of the Wildwood Boardwalk, directly across from Mariner s Pier. The property offers exceptional exposure with 30.9 feet of direct boardwalk frontage and an additional 54.3 feet along Cedar Avenue Boardwalk. The main draw to this investment is the $140,000 NNN lease, which expires in 2027 and includes a five-year extension option. The property was formerly home to Harry s Corner and is now occupied by Wally s Restaurant. It also features the iconic Coca-Cola sign, a well-known boardwalk landmark that generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. The owner covers the electricity for the sign, which is estimated at approximately $2,500 per year. At the asking price, under the current lease terms with both the tenant and Coca-Cola, the property offers an investor a 7.27% return. Additionally, Unit 3J is available for $714,000 and generates $50,000 in annual rental income under the same lease terms with the same tenant, resulting in a 7% cap rate.
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- Heating:No Heating
- 1 To 5 Spaces
- Cooling:Central Air Conditioning
- Cooling:Wall Air Conditioning
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| PROPERTY MAP VIEW |
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Request Property Information - 3400 Boardwalk, Wildwood NJ
For Sale: $2,099,000
| MLS Number: 253062
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DOM: 183 Days
Provided by: The DiAntonio Group - www.capemaycommercial.com
(Information Above Will Appear at the Top of the Email that is Sent to The DiAntonio Group) |
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Let a sales associate at DiAntonio Group be the buyer agent for this listing. Listing is provided by . The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.
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