Property profile

1352 Washington St Cape May, NJ 08204

OFF-MARKET
Other commercial real estate
Property ID
US59-0933182
0.43 ac lot
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This mixed-use property is situated within a Historic District and includes an on-site billboard that dates to the 1920s and was refurbished in the mid-1970s, alongside an existing structure described as non-contributing. The building contains four residential units and one commercial space, historically configured as four rental areas with room rentals on the third floor; current residential layout consists of one one-bedroom unit and three two-bedroom units, each with a living room, kitchen, and bathroom. The third floor, previously used for room rentals, has not been occupied for decades and is currently used for storage only, with no current egress. A full basement extends beneath the building and provides both interior and exterior access, and includes separate heating and hot-water infrastructure for the residential and commercial components. Natural-gas baseboard heating is provided, and the property is not served by central air conditioning. Three residential units are separately metered, while one residential unit shares utilities with the commercial space, which has operated as a barber shop. The property includes on-site parking with a dedicated lot serving both the residential tenants and the commercial unit, with defined ingress and egress driveways.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.43 ac (18,748 SF)
Zoning code R-2
APN 02 01144-0000-00006-0000-B01
UPID US59-0933182

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Barber Shop

Location

1352 Washington St Cape May, NJ 08204-5251
Cape May metro Census 22000 OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$290k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$290k

Owner & transaction history

since 2023
1 recorded transaction
2023
Price N/A

Zoning & alternative use

R-2 · Cape May, NJ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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