3400 Boardwalk, Wildwood NJ | Keller Williams Jersey Shore

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3400 Boardwalk, Wildwood, NJ - Active

For Sale: $2,099,000

Beds: Baths:

Type: Retail

DOM: 184 Days

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PROPERTY DESCRIPTION

3400 Boardwalk is located in an area that could be described as the Times Square of the Wildwood Boardwalk, directly across from Marinerâ€™s Pier. The property offers exceptional exposure with 30.9 feet of direct boardwalk frontage and an additional 54.3 feet along Cedar Avenue Boardwalk. 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 Harryâ€™s Corner and is now occupied by Wallyâ€™s Restaurant. It also features the iconic Coca-Cola sign, a well-known boardwalk landmark that generates an additional $15,000 in annual income through a lease agreement with Coca-Cola. The owner covers the electricity for the sign, which is estimated at approximately $2,500 per year. At the asking price, under the current lease terms with both the tenant and Coca-Cola, the property offers an investor a 7.27% 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.

PROPERTY FEATURES

Heating:No Heating
1 To 5 Spaces
Cooling:Central Air Conditioning
Cooling:Wall Air Conditioning

PROPERTY MAP VIEW

ADDITIONAL PROPERTY PICTURES

Request Property Information - 3400 Boardwalk, Wildwood NJ

For Sale: $2,099,000 | MLS Number: 253062

| DOM: 184 Days
Provided by: Keller Williams Jersey Shore - www.kwjerseyshorerentals.com

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