1512 Velvento Avenue

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1512 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).

  • Residential land parcel situated in Cape May, New Jersey.
  • The property encompasses a total area of 0.22 acres.
  • Cape May features a robust economy supported by coastal tourism.
  • Zoned for residential use with potential for various building types.
  • Coordinates are located at 38.9382 latitude and -74.8993 longitude.

What's Special

Cape May serves as a prominent coastal destination in New Jersey, known for its distinct Victorian architecture and steady tourism-driven economy. This 0.22-acre parcel of residential land on Velvento Avenue benefits from the region's appeal as both a seasonal retreat and a year-round community. The surrounding area maintains a character defined by historic preservation and proximity to Atlantic coastline amenities. Developing this site provides a potential foundation for a residential build suited to the local housing market. Its position within this established residential neighborhood allows for integration into the existing fabric of the community. Builders and investors seeking a foothold in the Cape May submarket may find this land suitable for residential projects ranging from primary residences to vacation properties.

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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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