Corner Commercial
For Sale
$599,900
3701 Pacific Avenue, Wildwood, NJ 08260
Spacious corner commercial building near the Wildwood Boardwalk and Morey’s Piers, with activity across the street.
Property Size2,980 SF
Price / SF$201.31
Days on Market132
Property Features for 3701 Pacific Avenue
General Information
Standard status
Active
Size
2,980 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$5,807
Amenities
3
TE
No Parking.
23.84 x 125.00
Central Business District.
Building Details
Year Built
1954
Listing Agency:
Rio Realty
(609) 222-1561
Listed By:
John Renteria · License #0571314
(609) 222-1561
Source:
Xome
Added: Apr 15
Changed: Aug 23
Last Checked: Jul 22 at 2:35PM
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 Rio Realty
Investment Insights
Based on property information with market context.
This spacious corner commercial building offers a high-exposure position and an open, flexible interior that can be adapted to a variety of concepts. The property is presented as a blank canvas for new uses, with room to create a fresh layout for retail, dining, office, or hospitality-related operations.
The address is 3701 Pacific Avenue in Wildwood, NJ 08260. It is described as steps from the Wildwood Boardwalk and close to Morey’s Piers, with a new motel opened directly across the street contributing to nearby activity.
Offered for sale, the building’s configuration and prominent corner placement are designed for businesses that benefit from consistent, visitor-oriented foot traffic.
The address is 3701 Pacific Avenue in Wildwood, NJ 08260. It is described as steps from the Wildwood Boardwalk and close to Morey’s Piers, with a new motel opened directly across the street contributing to nearby activity.
Offered for sale, the building’s configuration and prominent corner placement are designed for businesses that benefit from consistent, visitor-oriented foot traffic.
Key Highlights
- Corner commercial property at 3701 Pacific Avenue
- Steps from the Wildwood Boardwalk and close to Morey’s Piers
- Large building footprint positioned for high exposure as a corner property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,544
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,880
$690.9K
Cap Rate 7%
$493,486
$493.5K
Cap Rate 9%
$383,822
$383.8K
Market Conditions
NOI Build-Up for 2,980 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.6K $18.00/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$49.3K $16.56/SF
− OpEx
−$14.8K −$4.97/SF
NOI
$34.5K $11.59/SF
Area
Cape May County, NJ
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,880
Cap Rate 7%
$493,486
Cap Rate 9%
$383,822
Alternative Uses
Best Use
Retail
$493.5K
$431.8K – $575.7K
NOI $34,544 @ 7.0% cap · market cap 5.76%
Second Best
Hotel Hospitality
$327.6K
$286.6K – $382.2K
NOI $22,931 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$912.2K
$798.2K – $1.06M
NOI $63,853 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Groceries 8%
Hotels & Casinos 3%
Dining 2%
Wawa
Shops & Services
11,860 visits/mo
0.2 miles
Dollar Tree
Shops & Services
5,505 visits/mo
0.4 miles
Dollar General
Shops & Services
3,377 visits/mo
0.2 miles
Family Dollar
Shops & Services
3,099 visits/mo
0.3 miles
Liquor Mart
Groceries
2,297 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Spacious corner commercial building near the Wildwood Boardwalk and Morey’s Piers, with activity across the street.
Where is this hotel located?
The property is located at 3701 Pacific Avenue Wildwood, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Corner commercial property at 3701 Pacific Avenue; Steps from the Wildwood Boardwalk and close to Morey’s Piers; Large building footprint positioned for high exposure as a corner property
