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Motel - Wildwood, NJ Incredible investment opportunity to purchase this motel style apartment building, along with a vacant commercial lot currently used as onsite parking. 235 E Garfield Av. has been completely renovated and consists of 8 two bedroom apartments and 3 one bedroom apartments and it is run as a full service motel with an on site laundry room. All units feature air conditioning/heat systems, that allow for year round use. One electric meter. The Sellers generated around $250k in revenue in 2019, $270k in 2020 and over $300k in 2021 already. Included in the sale is also separately deeded 100x90 vacant lot for 30+cars located at 3719 Pacific Ave. Offered together as a package ONLY, the vacant lot is zoned commercial and could be developed into another income producing property by the savvy investor in the future. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible Airbnb cash flow. Located in a qualified NJ opportunity zone .
Days On Market
January 21, 2022
Data Provided by Cape May County Association of Realtors
Anne of Green Gables
ESPN, CPN, ASP
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