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5106 OCEAN AVE Wildwood, NJ 08260
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Key Details
Sold Price $2,200,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 15,000 sqft
Price per Sqft $146
MLS Listing ID NJCM103552
Sold Date 12/30/21
HOA Y/N N
Originating Board BRIGHT
Year Built 1952
Tax Year 2018
Lot Size 0.344 Acres
Acres 0.34
Lot Dimensions 100 x 140
Property Description
The Lufran Motel is a tremendous opportunity to own a 27 room motel with one of the largest pools with unobstructed direct ocean views. This is a seasonal income producing property which gets inundated with summer vacationers seeking beach fun and poolside relaxation. Customer activity and bookings have increased significantly in the past years with more people staying before and after the summer season. The motel grounds are spacious with plenty of outside area for upper deck and pool side lounging with tables & cooking areas for motel guests.
The beach and boardwalk access is minutes right outside the door and in minutes guests can have their feet on the beach sand or on their way to boardwalk for food, games and entertainment. A variety of incredible restuarants and eateries are just a short walk to the next street. Located direct on Ocean Ave, this is a prime location and opportunity, having direct ocean views and access to the Wildwood Boardwalk & convention center.
This is a must see in order to see the beautiful ocean views and really gain an understanding of this significant business opportunity and its location. The motel property is being sold "As Is". The property is perfectly suited for updating or new construction with 100 x 140 sq ft, of direct unobstructed ocean view frontage to update or develop with new condotel construction.
The Wildwood area has had some large scale development with state and federal funding. This area is a diamond in the rough. This location has a flexible, buildable footprint. For options, please call listing agent to discuss opportunites!
Location
State NJ
County Cape May
Area West Wildwood Boro (20513)
Zoning 4A COMMERCIAL
Direction West
Interior
Hot Water Electric
Heating Hot Water
Cooling Wall Unit
Flooring Laminated
Equipment See Remarks
Heat Source Natural Gas
Exterior
Garage Spaces 21.0
Utilities Available Phone, Sewer Available, Under Ground, Water Available, Natural Gas Available, Cable TV Available, Electric Available, Above Ground
Water Access N
View Water, Ocean
Roof Type Asphalt
Street Surface Black Top
Accessibility 2+ Access Exits
Road Frontage City/County
Total Parking Spaces 21
Garage N
Building
Lot Description Additional Lot(s), Backs - Parkland, Poolside
Foundation Block, Concrete Perimeter, Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Glenwood Ave
Middle Schools Wildwood
High Schools Wildwood
School District Wildwood City Schools
Others
Tax ID 00015140
Ownership Fee Simple
SqFt Source Estimated
Security Features Surveillance Sys,Window Grills
Acceptable Financing Negotiable
Listing Terms Negotiable
Financing Negotiable
Special Listing Condition Standard
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Bought with Scott McSorley • Weichert Realtors - Ship Bottom
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "