3400 Boardwalk, Wildwood NJ

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3400 Boardwalk, Wildwood, NJ - Active

For Sale: $2,099,000

Half Baths:

Type: Retail

DOM: 196 Days

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PROPERTY DESCRIPTION

3400 Boardwalk is located in an area that could be described as the Times Square of the Wildwood Boardwalk, directly across from Mariner s Pier. The property offers exceptional exposure with 30.9 feet of direct boardwalk frontage and an additional 54.3 feet along Cedar Avenue Boardwalk. The main draw to this investment is the $140,000 NNN lease, which expires in 2027 and includes a five-year extension option. The property was formerly home to Harry s Corner and is now occupied by Wally s Restaurant. It also features the iconic Coca-Cola sign, a well-known boardwalk landmark that generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. The owner covers the electricity for the sign, which is estimated at approximately $2,500 per year. At the asking price, under the current lease terms with both the tenant and Coca-Cola, the property offers an investor a 7.27% return. Additionally, Unit 3J is available for $714,000 and generates $50,000 in annual rental income under the same lease terms with the same tenant, resulting in a 7% cap rate.

PROPERTY FEATURES

Heating:No Heating
1 To 5 Spaces
Cooling:Central Air Conditioning
Cooling:Wall Air Conditioning

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Request Property Information - 3400 Boardwalk, Wildwood NJ

Bedroom(s) | Bathroom(s) | For Sale: $2,099,000 | MLS Number: 253062 |
Property Type: Retail
Provided by: The Sudell Team - www.guysudell.com
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Let The Sudell Team be your buyer agent for this listing. Listing is provided by DON MARTIN REALTY, INC. The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.

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