16 Reading Avenue

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16 Reading 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 16 Reading Avenue in the 08204 zip code.
  • Property situated within a historic and popular coastal region.
  • Suitable site for diverse residential development and construction projects.
  • Benefits from proximity to local Cape May amenities and beaches.

What's Special

This residential land parcel is located at 16 Reading Avenue in Cape May, New Jersey. The property occupies a position within this historic coastal community, known for its Victorian architecture and seasonal tourism economy. Investors and developers will find this site suitable for various residential project applications in a highly sought-after seaside market. Cape May serves as a primary destination for summer visitors, supported by a stable year-round population and ongoing demand for housing. The coastal location benefits from proximity to local beaches and regional transit routes connecting the peninsula to the broader mid-Atlantic corridor. This site provides a clean slate for residential construction, offering potential for those looking to capitalize on the sustained interest in Cape May real estate.

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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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