1040 New York Avenue

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1040 New York Avenue

Cape May, NJ 08204
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 available for sale in Cape May
  • Located at 1040 New York Avenue with geographic coordinates 38.9339, -74.9097
  • Strategic position within the desirable 08204 zip code
  • Site supports potential for custom residential development
  • Cape May market benefits from stable demand and tourism

What's Special

This land for sale at 1040 New York Avenue in Cape May, New Jersey, presents a clear residential development opportunity for builders and private investors. Situated within a historic and highly sought-after coastal region, this parcel offers significant potential for those looking to establish a footprint in one of the state's most recognizable vacation destinations. The local economy relies heavily on seasonal tourism, sustained by the region's unique Victorian architectural heritage and expansive beach access, which draws visitors year-round. Cape May attracts a consistent demographic of residents and investors interested in low-density, high-quality living environments. Given the existing zoning and typical neighborhood composition, this site is well-suited for the construction of a single-family home or a custom residential project. Its placement provides proximity to local amenities while maintaining the quiet character typical of the surrounding residential blocks. Prospective buyers have the ability to leverage this site for a primary residence or a strategic asset addition in a resilient market known for enduring property value and long-term appreciation.

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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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