359 Congress Street

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359 Congress Street

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 359 Congress Street
  • Situated within the coastal city of Cape May
  • Asset category designated for residential development purposes
  • Well-positioned in a stable regional New Jersey market

What's Special

Developing residential housing in Cape May presents a unique potential given the established character of the local coastal market. This land parcel at 359 Congress Street is positioned to accommodate a residential project in a well-regarded New Jersey destination. Cape May maintains consistent appeal as a historic shoreline community, drawing both seasonal residents and a steady year-round population. The surrounding area features residential density that supports a variety of housing configurations. Buyers looking for development sites in this region will find this location provides proximity to the central districts and the broader Cape May peninsula. The site serves as a clean canvas for professionals focused on residential inventory expansion in a stable submarket. With its specific designation for residential use, this property is suited for those aiming to integrate into the existing architectural landscape of this seaside city.

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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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