Proposed 24-48 Unit Condo-Hotel Development
RAW "AS-IS" LAND (PLANS AND LOCAL APPROVALS)
Marketing description
**SELLER OFFERING THE PROPERTY FOR $3.5M PURCHASE PRICE AND WILLING TO TAKE BACK $1M NOTE**
Bring a developer's dream to life! This extraordinary opportunity awaits you to create a breathtaking oasis of 24-48 ocean-view condos just steps to the beach. The vision promises a lifestyle that merges luxurious modern design, panoramic vistas, and the mesmerizing allure of the sea. The land is currently a functioning parking lot that measures 150' x 200', totaling 30,000 sq ft. But imagine 24-48 impeccably designed condos, each adorned with a private balcony that captures an enchanting ocean panorama. All 24-48 units will offer approximately 1800 sq ft of living space, 3 bedrooms with en-suite baths, a den, a powder room, and a laundry room. The architecture embodies a contemporary and elegant aesthetic, complementing the coastal charm of Wildwood. This visionary development includes two elevators and two levels of parking, thoughtfully designed to accommodate 2-4 parking spots per unit, making coastal adventures and day-to-day routines a breeze. You can even hit the gym or take laps in the rooftop pool while watching the sunset on the horizon! Seize the opportunity to make your mark on the coastline and create an enclave of luxurious ocean view condos that will captivate hearts and stand the test of time. Development plans available. Asking price includes plans with local approvals for 48 units (minor land use amendment to downsize to 24 units). The 24 unit concept would not require CAFRA approvals; however, the 48 unit concept would require CAFRA approvals. Motivated Seller willing to seller finance for the right developer to bring this vision to life.
Investment highlights
• Rare generational development opportunity in the heart of Wildwood right on the beach/boardwalk, and near iconic attractions.
• Locally approved for a 48-unit luxury condominium project featuring ocean-view residences, modern coastal architecture, private balconies, premium amenities, and structured parking.
• CAFRA review for 48 units currently paused due to statewide LUP deficiency recalculations, but project holds strong fallback density options including a 40-unit compromise and a 24-unit by-right path.
• Seller offering flexible “as is” raw land sale with attractive seller-financing option: up to 50 percent of purchase price carried for three years, significantly reducing upfront capital requirements.
• Expansive 30,000 sq ft parcel (150 x 200) currently operating as a parking lot, providing a clean development slate and favorable site geometry for multi-level construction.
• Highly sought-after location poised for long term appreciation driven by Wildwood’s revitalization, tourism expansion, and strong second-home and short-term rental demand.
• Multiple exit strategies including luxury condo sellout, hybrid condo-hotel concept, or long-term hold with rental revenue potential.
• Ideal opportunity for experienced developers seeking a coastal project with significant upside upon CAFRA clearance.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
