REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,599,000
Est. payment | /mo
3 Baths
$ 1,599,000
Est. payment | /mo
3 Baths
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 613290
Style Comm. w/Apartments
Year Built 1924
Annual Tax Amount $2,025
Tax Year 4200
Property Description
PRIME DOWNTOWN OCEAN CITY INVESTMENT OPPORTUNITY! Located in the heart of Ocean City at 10th Street and Asbury Avenue, this versatile three-story mixed-use property offers endless possibilities for investors, business owners, and owner-occupants alike! The first floor features commercial space in a highly desirable downtown location, ideal for establishing your business or generating rental income. Above, you'll find two beautifully remodeled residential units. The spacious second-floor unit offers 4 bedrooms and 1 full bath, while the third-floor unit features 3 bedrooms and 1 full bath. Both residential units have been tastefully updated, providing attractive options for year-round living, seasonal use, or rental income. ALL THREE UNITS WILL BE DELIVERED VACANT AT SETTLEMENT giving the new owner complete flexibility to occupy, lease, or establish their own rental rates from day one! Live in one unit while generating income from the others, operate your business downstairs, or maximize the property's investment potential. Just steps from Ocean City's popular shops, restaurants, and downtown attractions- and a short walk to prime Boardwalk attractions and beautiful beaches- this is a rare opportunity to own a mixed-use property in one of the shore's most sought-after communities. Each unit has one private parking spot. Residential units will be delivered fully furnished. Both Residential units have private in unit laundry. LOCATION, FLEXIBILITY & INCOME POTENTIAL — THE POSSIBILITIES ARE ENDLESS! Residential was used for seasonal rentals ($60k / per unit) & yearly commercial space ($40k) - projected income for the building $160k
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Location Details Boardwalk,Business District,See Remarks,Boardwalk Area
Interior
Interior Features Restroom, Security System, Storage
Heating Forced Air, Gas-Natural
Flooring Concrete, Hardwood, Slab
Exterior
Exterior Feature Dock/Pier/Slip, Sign, See Remarks
Parking Features 1 to 5 Spaces, Assigned, Paved
Roof Type Asphalt
Building
Story 3
Sewer Public Sewer
Water Public
Listed by BHHS FOX and ROACH-Simpson OC
NEARBY SCHOOLS & PROPERTIES
Kayla Noll
REALTOR® | Team Principal License ID: NJ-1643324
+1(732) 735-1918 | kayla@kaylanollgroup.com