1505 Yacht Avenue
Cape May, NJ, 08204 $ 7,250,000
Bedrooms-- Baths-- Sq 32,086 Monthly Estimate*
$ 45,231
for $7,250,000. This 32,086 square foot building was built in 1900.
Once in a Lifetime Prime Waterfront Development Opportunity in Cape May An exceptional opportunity to develop 0.7 acres of waterfront property on Cape Mays Yacht Ave. This rare offering includes approved plans for a seven-townhome condominium association with a small marina, creating an exclusive waterfront community in one of Cape Mays most desirable locations. Situated in a highly walkable location, this property offers convenient access to the Marina District, where youll find some of Cape Mays most popular restaurants, including Lucky Bones, The Lobster House, and Meyers. Just a short distance away, explore the charm of Historic Cape May, known for its Victorian homes, boutique shopping, and pristine beaches. Cape May is a premier destination for boaters and coastal enthusiasts, providing direct harbor access and a vibrant seaside atmosphere. Whether youre an investor, developer, or visionary buyer, this is a rare opportunity to bring a luxury waterfront project to life. For those seeking to create their own waterfront masterpiece, this property also presents the unique opportunity to design a private luxury estate with unparalleled harbor views. Imagine a custom-built home or two with expansive decks, private docks, and direct access to Cape Mays premier boating watersa haven for yachting, fishing, and waterfront living at its finest. Whether as a multi-unit development or a one-of-a-kind private retreat, this rare waterfront property is a blank canvas ready for your vision: Highlights Dig Ready for 7 townhomes, 1Existing renovated Historic Home, 17 -23 slips, 7 marina parking, marina bathroom room, 7 overflow residential parking, Garages for townhomes. Need a builder we can supply a fantastic local builder who has been involved from the beginning on this project.
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FeaturesInteriorHeating Fuel Other
Hot Water Natural Gas
Heating Y/N Y
Central Air Y/N N
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GeneralSewer Public Hook/Up Avail
Heating Other
Cooling Other
Possession Settlement
Zoning R-5
Construction Materials Shake Siding
Year Built 1900
Property Subtype Land for Commercial Use
Tax Year 2024
Ownership Other
Cool Fuel Other
Municipality CAPE MAY CITY
Business Type Other
Accessibility Other
County CAPE MAY
New Construction N
Property Type Commercial Sale
Subdivision Name CAPE MAY CITY
Water Access Y/N Y
Status PENDING
Directions Yacht Avenue.
City CAPE MAY
Number Of Units Total 2
MLS Area Cape May City (20502)
Tax Annual Amount 14491.0
Property Condition Excellent
Acceptable Financing Other
Historic Y/N N
Lease Considered Y/N N
Vacation Rental Y/N N
Virtual Tour https://my.matterport.com/show/?m=Jcg1WRCHKKj
Location Type Corner Lot/Unit
Standard Status Pending
Year Built Source Estimated
Tax Lot 00006
Association Recreation Fee N
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ExteriorWater Source Public
Type of Parking Parking Lot
Water View Y/N N
Building Area Total 0.00
Lot Dimensions .7366
Water Body Type Canal
Waterfront Y/N Y
Other Equipment See Remarks
Number of Docks 5+
Land Assessed Value 1224800.00
Navigable Water Y/N Y
Number of Slips 5+
Water Oriented Y/N Y
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* Excluded FeaturesList ByCoastline Realty, LlcBroker
carolmenz@coastlinerealty.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $45,231
- Monthly Property Taxes
- $1,208
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Cape May, NJ
Average List Price $3,333,155
Percent of Sale Price 54%
About Cape May, NJ 3,270 Population
-19% Since 2002
$ 57,321 Median Income
39.35 Median Age
9% Households with Children
Trends Information provided by ATTOM Data Solutions.
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 5/23/2025 | $7,250,000 | -6.45% | Price Down |
| 4/8/2025 | $7,750,000 | | Listed Price |