The subject property is offered as a development opportunity, and in addition to the outright sale of the property, the seller is highly motivated to engage a joint venture partner for the development of the property as a hotel, timeshare or high-rise condominium. Other creative deal structures are available, as well on this project.

Just a short two-block walk from the world's famous Boardwalk in the renowned City of Wildwood, NJ, the subject property provides an unequaled opportunity for development of a hotel, timeshare, or condominium. Recently appraised for $14.5M, the property sits on the 3400 block of Pacific Avenue, which has undergone recent development, and is in the center of the tourism and entertainment district with retail, restaurants, night clubs and more.

The City of Wildwood has expressed great desire to see a project of this nature developed in this area of Wildwood. In addition to this support, the property could service the local convention center as convention tourism is rising past local room capacity. As most of the existing development consists of low-rise, exterior corridor motels and condominiums, a high-rise project will be a true stand-out feature in the area. Zoning is in place for a height of 25 stories or 250 feet, and with +/-600K of buildable square feet, above garage levels, several options remain viable, including a full-service hotel, a timeshare development or a high-rise condominium.