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    Renovated Income-Producing Rental Property Title is generated by Realmo AI

    120 E Schellenger Ave, Wildwood, NJ 08260

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    For Sale
    $1,200,000

    Commercial - Wildwood, NJ

    Added:
    Feb 4, 2026
    Days on Market:
    97
    Last Refresh:
    May 12 at 9:06 pm

    Property Features for 120 E Schellenger Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    PARZ
    Bathrooms
    9
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Security features
    Security Lighting
    Interior features
    Restroom
    Exterior features
    Security Light/System
    Basement Y/N
    1
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8588

    Utilities

    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1960
    Floors in Building
    2
    Flooring type
    Carpet, Carpet - Partial, Linoleum, Vinyl
    Roof type
    Asphalt

    We can help!

    Listing Contact
    JILL FLUHARTY

    Listing agent JILL FLUHARTY License #1538790

    Listing office KELLER WILLIAMS REALTY-WASHINGTON TWP 381 EGG HARBOR RD, SEWELL, NJ

    Listing date Feb 4, 2026

    MLS# 604587 Listing URL

    Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High income‑producing potential: Generates over $130,000 per season.
    • Fully renovated in 2021, turnkey condition.
    • Prime location: Short walk to the beach, boardwalk, dining, and nightlife.
    • 14 private rental rooms and 9 full bathrooms designed for high occupancy.
    • Two full kitchens and a spacious common living room.
    • Strong and proven performance history with immediate cash flow.

    Overview

    Located in Wildwood, New Jersey, the property at 120 E Schellenger Ave is a renovated seasonal rental property featuring 14 private rooms and offering income potential. Renovated in 2021, this property includes 9 full bathrooms, two full kitchens, and a common living room. The layout is designed to maximize occupancy. The property is currently set up to generate over $130,000 per season. It is also available for seasonal rent at $90,000. Situated within walking distance to the beach, boardwalk, dining, and nightlife, the property benefits from its location. This property is intended for use as a seasonal rental. It is suitable for investors seeking income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wildwood
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.8154349
    Latitude
    38.9898312

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    FAQs

    What type of property is this?
    Short term rental property - Fully renovated 14-room rental property in Wildwood, NJ.
    Where is this short term rental property located?
    The property is located at 120 E Schellenger Ave Wildwood, NJ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: High income‑producing potential: Generates over $130,000 per season.; Fully renovated in 2021, turnkey condition.; Prime location: Short walk to the beach, boardwalk, dining, and nightlife.
    (609) 289-0940
    We can help!
    Listing Contact
    JILL FLUHARTY
    Real Estate License ID: 1538790
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    120 E Schellenger Ave, Wildwood, NJ 08260
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