This property comes with plans and Approvals for a 28 Room Hotel at 650 SQ FT per unit and 28 parking spots..... In its Present State , This income producing property offers exceptional opportunities. 6 businesses on almost a full CITY BLOCK includes, the Monaco Motel, paid parking lot with over 30 spaces, 5 boardwalk stores (same block as the famous Mack's Pizza). The motel is the first beachside motel located 1 block from the Wildwood Convention Center and offers income and potential galore with 17 well kept rooms and a 2 bedroom, 1 1/2 bath, full kitchen, year round heated owners quarters, plus 1 year round heated motel room, laundry facilities, storage and parking. The boardwalk stores are fully rented with great rental income. Restaurant "The White Dolphin" includes 2 full kitchens, 1 kitchen is on the main floor of the eatery, the 2nd is in full size basement along with huge walk-in refrigerator and freezer, and a spacious office to keep all affairs in order. Top floor of the Restaurant there is a 1,000 sq. ft. 4 bed 2 bath apartment. "Fruit and Scoop" is a large Ice Cream and food service store." The Game" has a few classic boardwalk games of chance to challenge you skills. All businesses are separately metered, tenants pay all utilities. Agent has all lease information on file. The big Corner boardwalk business ," The Grandview" 4000 sq. ft., besides the giant retail space, it includes a 2500 sq. ft. 2 bedroom, 2 bath year round apartment with breathtaking views. The Potential development of this massive property it is only limited to yourvision. This is a must tour property to truly see the economic value.
Courtesy of CAPE ISLANDS REALTY, LLC, Joseph V. Rullo
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Ryan Vince shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2022 Cape May County Association of REALTORS, Inc. All rights reserved.
Data last updated 4:56 PM UTC 10/1/22