3400 Boardwalk, Unit 3K, Wildwood NJ |CMCMLS| Cape May County Association of Realtors

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3400 Boardwalk, Unit 3K, Wildwood, NJ - Active

For Sale: $2,299,000

Beds: Baths:

Type: Retail

DOM: 0 Days

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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. The unit also features the iconic Coca-Cola sign, a well-known landmark on the boardwalk that generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. At the asking price and under the current lease terms with the tenant and Coca-Cola, the property offers an investor a 6.74% 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.

PROPERTY FEATURES

Heating:No Heating
1 To 5 Spaces
Cooling:Central Air Conditioning
Cooling:Wall Air Conditioning

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ADDITIONAL PROPERTY PICTURES

Listing is provided by DON MARTIN REALTY, INC, Richard Martin, 609-729-8855. 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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