5100 ATLANTIC AVE Active Save Request In-Person Tour Request Virtual Tour
Wildwood,NJ 08260
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,544 sqft
Price per Sqft $491
Subdivision 08260
MLS Listing ID NJCM2005976
Style Traditional,Other
Year Built 1915
Annual Tax Amount $28,029
Tax Year 2024
Lot Size 8,999 Sqft
Property Sub-Type Other
Property Description
Prime investment opportunity in Wildwood – 5100 & 5200 Atlantic Ave. 5100 Atlantic Ave is a boutique 11-unit hotel, completely renovated in 2020, and 5200 Atlantic Ave is a 3-bedroom home with a 9-car parking lot, just 1.5 blocks from the boardwalk and beach. The hotel, known as 5100 Vacation Club, features fully furnished suites with stainless steel kitchens, private balconies, sleeper sofas, separate electric meters, professional fire/sprinkler systems, ADA access, an in-ground pool, outdoor lounge/BBQ areas, and a dedicated office structure. The 5200 Atlantic property currently serves as the owner's quarters, laundry, and storage but also offers strong redevelopment potential with a matching lot size. Seasonal revenues average $420K with upside of $150K by extending operations beyond Memorial Day to Labor Day, along with long-term value-add through future development. Additional potential includes utilizing the parking lot for a new build with ground-level parking and residential units above. Offered at $4,899,000, the sale includes both properties, reservation inventory, furniture, fixtures, and equipment, with seller financing available for qualified buyers.
Location
State NJ
County Cape May
Area Wildwood City (20514)
Zoning T
Interior
Hot Water Natural Gas
Heating Baseboard - Hot Water,Central,Energy Star Heating System,Forced Air,Zoned
Cooling Central A/C,Attic Fan,Energy Star Cooling System,Multi Units
Exterior
Garage Spaces 3.0
Water Access N
View Ocean
Building
Foundation Block,Other
Sewer Public Septic,Public Sewer
Water Community
New Construction N
Schools
School District Wildwood City Schools
Others
Special Listing Condition Standard