1502 Velvento Avenue

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1502 Velvento 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).

  • The parcel measures 0.22 acres of residential land.
  • Property is located in the coastal city of Cape May.
  • Site coordinates are 38.9382 latitude and -74.8993 longitude.
  • Residential zoning allows for future development of housing.
  • Location offers access to established Cape May infrastructure.

What's Special

Cape May serves as a prominent coastal destination in New Jersey, characterized by its historic charm and active tourism industry. This 0.22-acre parcel of residential land sits within the 08204 zip code, offering proximity to the region's well-established community infrastructure. The site is situated near key transit routes that support the area's year-round residential population and seasonal visitor flow. Given the residential zoning and the size of the lot, this property is suited for the development of a single-family home or a secondary residence. Investors and builders will find the location conducive to projects requiring access to the Cape May submarket. With its coastal positioning, the land presents a functional footprint for those seeking to establish a presence in this popular seaside municipality.

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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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