3400 Boardwalk - Restaurant FOR SALE


Wildwood, NJ 08260
$2,299,000 USD
609-729-8855
3400 Boardwalk, Wildwood, NJ for Sale
$2,299,000 USD
Restaurant - FOR SALE
1/10
null | 6.74% Cap Rate

3400 Boardwalk
Wildwood, NJ 08260


OVERVIEW

3400 Boardwalk, Unit 3K is located in an area that could be described as the Times Square of the Wildwood Boardwalk, directly across from Mariner’sPier. The property offers exceptional exposure with 30.9 feet of direct boardwalk frontage and an additional 54.3 feet along Cedar AvenueBoardwalk. 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. The unit also features the iconic Coca-Cola sign, a well-known landmark on the boardwalk that generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. At the asking price and under the current lease terms with the tenant and Coca-Cola, the property offers an investor a 6.74% 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.

FOR SALE DETAILS

PRICE

$2,299,000 USD

PRICE/SF

$598 USD /SF

CAP RATE

6.74%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

BA-1

APN/PARCEL ID

14-00187-0000-00001-01-C003H

ASK ABOUT THIS PROPERTY

Richard MartinDonald Martin Realty IncMore Info
609-729-8855

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Richard MartinDonald Martin Realty IncMore Info
609-729-8855

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.