For Sale 3400 Boardwalk, Unit 3K, Wildwood, NJ, 08260

This prime Wildwood Boardwalk unit boasts 16.1 feet of direct boardwalk frontage, offering unmatched visibility in one of the area’s busiest and most visited locations, just steps from Mariner’s 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 Wally’s 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.

PRIME LOCATION....ACROSS FROM BEACH AND BWALK. PARKING LOT GOES FROM OCEAN TO ATLANTIC AVENUES. PRIME FOR HOTEL, MOTEL AND OTHER COMMERICAL USES ENDLESS POSSIBILITIES. THIS AREA IS ONE OF THE HOTEST AREAS IN WILDWOOD FOR DEVELOPMENT. DOESN\'T GET ANY BETTER. ROADMAP FOR SUCCESS: HAVE THE VISION; REALIZE THE IMPACT; AND SEE THE GROWTH. SKY IS THE LIMIT.

Bring a developer\'s dream to life! This extraordinary opportunity awaits you to create a breathtaking oasis of 24 ocean-view condos just steps to the beach. The vision promises a lifestyle that merges luxurious modern design, panoramic vistas, and the mesmerizing allure of the sea. The land is currently a functioning parking lot that measures 150\' x 200\', totaling 30,000 sq ft. But imagine 24 impeccably designed condos, each adorned with a private balcony that captures an enchanting ocean panorama. All 24 units will offer approximately 1800 sq ft of living space, 3 bedrooms with en-suite baths, a den, a powder room, and a laundry room. The architecture embodies a contemporary and elegant aesthetic, complementing the coastal charm of Wildwood. This visionary development includes two elevators and two levels of parking, thoughtfully designed to accommodate 2 parking spots per unit, making coastal adventures and day-to-day routines a breeze. You can even hit the gym or take laps in the rooftop pool while watching the sunset on the horizon! Seize the opportunity to team up with an experienced developer to make your mark on the coastline and create an enclave of luxurious ocean view condos that will captivate hearts and stand the test of time. Development plans available. Asking price includes plans with local approvals. Motivated Seller willing to seller finance for the right developer to bring this vision to life. This 24-unit concept would not require CAFRA approvals.