3845 Bayshore Road, Cape May, NJ 08204

BAYSHORE RETAIL CENTER

3845 Bayshore Road, Cape May, NJ 08204

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• Price:
  $9,500,000
• Building Size:
  161,000 SF
• Price/SF:
  $59.01
• Property Type:
  Retail
• Property Sub-type:
  Retail (Other)
• Additional Sub-types:
  Neighborhood Center
• Property Use Type:
  Investment
• Cap Rate:
  8.49%
• Year Built:
  1989
• Lot Size:
  55 AC
• Find Out More...

Last Verified  1/28/2011 Listing ID  16254834

Attachments

• Acme(67 KB)
• Acme & Big Lots Profile(6 MB)
• Site Plan(211 KB)
• Aerial(885 KB)
• NJ CONSUMER NOTICE(338 KB)
• Confidentiality & Disclaimer 909(160 KB)
• Bayshore % Reimbursements(51 KB)
• PropertyWebsiteURL

Highlights

• SUPERB LOCATION WITH BARRIERS TO ENTRY
• High Volume Acme Supermarket excellent generator
• Tremendous additional development Opportunity

• SIGNIFICANT PRICE REDUCTION
• High visibility with great signalized access

Description

The property is grocery anchored by Acme Supermarket with a lease FOR 99 YRS THRU 2087 with a one time rental amount PAID AT LEASE INCEPTION. ACME PAYS IT PRO RATA SHARE TO CAM AND PAYS 50% OF R.E. TAXES. Property consists of two parcels totaling approximately 55 acres. Parcel "A" 42Acres+/- and "B"13Acres+/- currently zoned Residential. Lower Township indicated possible commercial development up to 15,000 SF

Situated in Lower Township, Cape May County, the southernmost point in New Jersey..Cape May is America's oldest seaside resort. only 1 mile from the Cape May Lewis Ferry and approx 2.5 miles to the Garden State Parkway.

Financial Summary

Debt & Equity Information

• Actual
• Effective Gross Income
  $1,222,667
• Net Operating Income
  $806,177
• Pre-Tax Cash Flow
  $304,150