Description
5200 Atlantic Ave, Wildwood, NJ, 08260-MLS # NJCM2002198, is being sold for land only for new construction of a sister Condotel Motel known as the "5100 Vacation Club", located on 5100 Atlantic Ave, Wildwood, NJ, 08260-5200 Atlantic Ave, MLS # NJCM2002198. These two properties are being sold together.
5200 Atlantic is Zoned H/M 1 for a sister Condotel Motel new construction with a 90 x 100 ft buildable footprint of 11 private luxury family of suites. These units would be combined with the existing "5100 Vacation Club" which could make a combined 22 Keys of Boutique Private Family Suites. A rare opportunity with the almost nonexistent inventory in the Wildwoods business and vacationing community. The existing "5100 Vacation Club" on 5100 Atlantic Avenue is an income producing condotel motel and as a family run vacation business, providing a unique boutique of private luxury family suites and managed services. This is an incredible opportunity for new construction of up to 11 additional private luxury family suites. Location, Location, Location! Just one block from the beach and boardwalk a few blocks away from the Wildwood Convention Hall, business and yearly festivals throughout the summer as well as pre and post season.
5200 Atlantic Avenue, new construction qualifies as an opportunity zone. The investors will need to provide additional money for the new construction of the sister condotel motel. The new construction models and renderings of Cedar Built Construction of units of 8 to 11 units. The artists renderings of 8 Luxury Private Family of Suites as the sister Condotel Motel with Private Decks and Ocean Views. The floor plans, costs and materials pricing as well as 3D Animated Walkthroughs are available upon request. All variances and due diligence are required with the city of Wildwood. Attention Investors: The seller is willing to provide up to 50% financing for the entire project in 1st position with 50% investors down payment. Encouraging investors further, the sellers can provide a transferable $500,000 assumable SBA loan at 3.28% with a 30-year term fixed rate to qualified buyers.
Listing Agent: Scott McSorley
Listing Office: Weichert Realtors - Ship Bottom
Attribution contact: 6094946000 | 9086703574
Location
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Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 1st October, 2023 8:55 AM (UTC)
