1616 New York

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1616 New York

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 located at 1616 New York in Cape May.
  • Located within the desirable coastal market of Cape May, New Jersey.
  • Property is currently available for purchase as a residential development site.
  • Positioned in a region characterized by consistent seasonal and permanent demand.
  • Ideal location for a new single-family or multi-family residential construction project.

What's Special

Situated at 1616 New York in Cape May, New Jersey, this residential land parcel presents a specific development opportunity within a highly sought-after coastal destination. Cape May maintains a robust reputation for its historic charm and active seasonal tourism economy, providing a stable environment for new residential construction projects. The local submarket draws consistent interest from both vacation property seekers and individuals looking for permanent coastal residences. Developing this site allows for a custom residential build tailored to the character of the surrounding community. Potential uses for this asset include the creation of a single-family home or a multi-unit dwelling, depending on local requirements. As a coastal market, Cape May benefits from consistent regional demand and a distinct population base that values proximity to the Atlantic shoreline and the town’s regional amenities. This parcel provides a blank canvas for investors or future homeowners to execute residential plans in a well-established 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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