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$ 3,500,000
Est. payment /mo
Price Dropped by $250K
900-908 Bay Ave Ocean City, NJ 08232
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 595286
Style Commercial
Annual Tax Amount $16,758
Tax Year 2024
Property Description
TROPHY LOCATION - LOCATION - LOCATION! This super rare Double Lot 227x107 HUGE CORNER LOT is located NEAR OPEN BAY in Ocean City NJ's Drive-in Business /Mixed-Use Zone and offers incredible ENDLESS POSSIBILITIES! Enlarge existing commercial expansion ideas and/or pursue various Mixed-Use Redevelopment Opportunities! Currently, there is a landmark operating business situated on the property known as “Island Beach Gear”. Main retail floor boasts 8,400 sq ft with an additional 2,100 sq ft of storage on the 2nd floor off the back of the building with a total of 10,500 sq ft of operational retail space, plus a large parking lot and delivery trailer access in the side of building. Approved uses in this zone include retail, professional office, food service/restaurants, drive thru business, and many others. There is an easement off the backside of the property for the benefit of the owner. In past years, existing business owners secured approvals for an expansion of the existing retail operation which included a two-story building (images of approved plans are included). Another fabulous option is redevelopment! The coveted commercial 100x107 corner parcel boasts the highest traffic intersection in all of Ocean City which translates to high volume traffic and lucrative profits for any business with the highest visibility like no other which you want to design and call your own for this corner. This allows you creative opportunity to build a by-right commercial only building on the 100 x 107 corner lot (highest visibility on the island); and a mixed-use residential units on top of commercial) building on the 127 x 107 adjacent lot along Bay Ave. Seller is open to contracting with a buyer for the property subject to seller getting approvals for the mixed-use project. Current tenant's lease expires Sept 1st, so current retail building is also being listed for lease effective Sept 2025. Call us directly for more specific details, to schedule a private showing and make an offer today!
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Location Details Business District,Island
Rooms
Basement Crawl Space
Interior
Interior Features Display Windows, Fire Sprinkler System, Handicap Features, Restroom, Security System, Smoke/Fire Alarm, Storage
Heating Gas-Natural
Flooring Linoleum/Vinyl
Exterior
Exterior Feature Storage Building, Loading Dock, Truck Door, Security Light/System
Parking Features 11 or More Spaces
Building
Sewer Public Sewer
Water Public
Listed by eXp Realty - Ocean City O382L