523 Bank Street

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523 Bank 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 situated in Cape May, New Jersey.
  • Located at 523 Bank Street near coastal amenities.
  • Property is available for acquisition as a residential site.
  • Site offers potential for custom residential project development.
  • Positioned within a popular historic seaside vacation market.

What's Special

Cape May serves as a prominent coastal destination in New Jersey, known for its historic architecture and steady tourism-driven economy. This residential land parcel at 523 Bank Street represents a site for potential development within this established community. The surrounding submarket is characterized by high demand for quality housing stock, making this an appropriate selection for investors or residential builders looking to capitalize on the region's appeal. Prospective buyers may consider various residential layouts that align with the local aesthetic and zoning requirements of this seaside borough. Positioned near the southern tip of the state, the property offers proximity to regional infrastructure and area amenities. Development of this site could cater to permanent residents or the seasonal vacation market that defines much of the local real estate landscape. Its placement in a mature residential corridor supports a variety of housing project configurations, allowing for a strategic contribution to the local housing inventory.

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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

Location & Travel Times