X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WILDWOOD, NJ-The 1.4-acre site at 3400 Pacific Ave. here is on the market, currently listed with an asking price of $13 million. The potential seller, a local investor, has hired Marcus & Millichap to find a buyer.

“It’s just two blocks from the boardwalk and the beach,” says Brian Weaver of Marcus & Millichap’s New Jersey office. “The property can be easily developed into a hotel, timeshare or condominium. The City of Wildwood and officials of the newly constructed convention center have expressed great desire to see a project of this nature come online in Wildwood.”

And the site comes with clearance from local officials for a substantial development. Current zoning calls for a height of 25 stories or 250 feet, and 600,000 sf of building space above garage levels. The seller has released a rendering of what such a project might look like.

Located within walking distance of this oceanfront city’s convention center, the site is in an area that has seen a number of new developments in recent years. It’s also an area that is in the center of a tourism and entertainment district with retail, restaurants and nightclubs.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.