Apartment Building with Multiple
New
For Sale
$935,000
234 E Spencer Avenue, Wildwood, NJ 08260
The property includes multiple living spaces and six kitchen facilities.
Property Size3,269 SF
Days on Market4
Property Features for 234 E Spencer Avenue
General Information
Standard status
Active
Size
3,269 SF
Property subtype
Apartment
Building Details
Building Size
3,269 SF
Year Built
1930
Listing Agency:
SEAPOINTE VILLAGE REALTY, LLC
Listed By:
Judy Huber
(609) 602-4260
Source:
Teamoceanside
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 25 at 2:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SEAPOINTE VILLAGE REALTY, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building in Wildwood contains 10 bedrooms, 6 full bathrooms, and 6 kitchens, along with multiple living spaces. The property was built in 1930 and is located at 234 E. Spencer Avenue.
Wildwood provides access to beaches, the boardwalk, dining, shopping, and entertainment. The building’s documented configuration includes separate kitchen facilities and multiple living areas.
Wildwood provides access to beaches, the boardwalk, dining, shopping, and entertainment. The building’s documented configuration includes separate kitchen facilities and multiple living areas.
Key Highlights
- 10 bedrooms and 6 full bathrooms
- 6 kitchens and multiple living spaces
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,478
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,560
$889.6K
Cap Rate 7%
$635,400
$635.4K
Cap Rate 9%
$494,200
$494.2K
Market Conditions
NOI Build-Up for 3,269 SF
Gross rent
$85.1K $26.04/SF
− Vacancy
−$4.3K −$1.30/SF
EGI
$80.9K $24.74/SF
− OpEx
−$36.4K −$11.13/SF
NOI
$44.5K $13.61/SF
Area
Cape May County, NJ
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,560
Cap Rate 7%
$635,400
Cap Rate 9%
$494,200
Alternative Uses
Best Use
Apartment 5plus
$635.4K
$556.0K – $741.3K
NOI $44,478 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$875.6K – $1.17M
NOI $70,046 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
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Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes multiple living spaces and six kitchen facilities.
Where is this apartment building located?
The property is located at 234 E Spencer Avenue Wildwood, NJ.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: 10 bedrooms and 6 full bathrooms; 6 kitchens and multiple living spaces; Built in 1930
