3218 Ave Wildwood, NJ 08260
- Investment properties
- 0.34 lot acres
Current Use by Public Records
- Investment properties
Property Details for 3218 Ave
- Year built
- 1971
- Lot size
- 0.34 lot acres
- Property type
- Investment properties
Description
This exceptional 39-room motel in Wildwood, NJ, presents a lucrative investment opportunity. Boasting a prime location just over a block from the renowned boardwalk and beach, this well-established business has been operating successfully for over 50 years. The property sits on a 0.34-acre lot and offers a diverse range of accommodations, including spacious two-room efficiencies, executive suites, and VIP rooms, many featuring private balconies. A highlight is the stunning rooftop pool, providing guests with breathtaking ocean views and a perfect vantage point for enjoying the vibrant fireworks displays. The motel's convenient location allows guests easy access to Wildwood's bustling nightlife, attractions, and numerous events, including the Barefoot Music Fest, various sports tournaments, and beach races. The property has undergone recent upgrades, ensuring a turnkey operation for the new owner. One ground-floor room has previously been used for various commercial purposes, such as ice cream sales, presenting additional income potential. Off-street parking is available for guests. With its strong history, desirable amenities, and prime location, this motel represents a rare chance to acquire a thriving business in a highly sought-after destination. The asking price is $5,800,000.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wildwood
- County
- CAPE MAY
- State
- New Jersey
- Longitude
- -74.82
- Latitude
- 38.9888