2697 Bay Drive

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2697 Bay Drive

Cape May Beach, NJ 08251
Asking Price
Contact for price
Asset Type
Residential Land
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Residential land parcel spanning 0.56 acres in total size.
  • Located on Bay Drive in Cape May Beach, New Jersey.
  • Property is available for sale to investors and builders.
  • Parcel is situated at coordinates 39.0089 and -74.9517.
  • Site offers potential for future residential housing development.

What's Special

This 0.56-acre residential land parcel at 2697 Bay Drive presents a development opportunity in Cape May Beach, New Jersey. Situated in a coastal environment known for its regional tourism and seasonal activity, the site provides space for residential construction projects. The local economy in this part of the state benefits from steady demand for housing near the shoreline, making this an appropriate acquisition for builders or private investors seeking a location in this specific market. Prospective buyers can evaluate the site for single-family residential development given the coastal location and existing land characteristics. Cape May Beach serves as a quiet residential enclave within the broader Cape May County, characterized by a mix of primary and secondary homes. Access to local amenities and the surrounding natural landscape remains a primary feature for properties in this submarket. The topography and size of the parcel accommodate various site planning layouts for residential infrastructure.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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