1352 WASHINGTON STREET

CAPE MAY, NJ 08204

**Investor Alert – Prime Redevelopment Opportunity in Historic District** Exceptional opportunity for a seasoned investor or developer to acquire a uniquely positioned property located within the Historic District. The existing structure is considered **non-contributing**, while the on-site billboard, dating back to the 1920's refurbished in the mid 70's by a local builder, is recognized as a contributing feature, creating a rare dynamic for redevelopment potential. The current configuration consists of a mixed-use building with **four residential units and one commercial space (barber shop)**. Originally designed as 5 rental areas with rental rooms on third floor, the property now includes one (1) one-bedroom unit and three (3) two-bedroom units, each with living room, kitchen, and bath. The third floor, historically used for room rentals, has not been occupied for decades and is presently utilized for storage only (no current egress). The property features a full basement with both interior and exterior access, housing separate heating systems and hot water infrastructure. Three residential units are separately metered; one unit shares utilities with the commercial space (paid by the commercial tenant). Heating is natural gas baseboard; no central air conditioning. Ample on-site parking is available, including a dedicated lot servicing both residential tenants and the commercial unit, with defined ingress and egress driveways. All residential tenants are **month-to-month**, offering flexibility for repositioning or redevelopment. This property is being offered strictly as an **AS-IS sale**. Seller will make **no repairs, credits, or concessions**, and provides **no warranties or guarantees**. Inspections are for informational purposes only. **All offers must be accompanied by a Letter of Intent (LOI)** and should be structured as cleanly as possible, with minimal contingencies. Seller’s priority is a strong, straightforward transaction. **Post-closing occupancy required:** Seller requests a leaseback period for the two 2nd floor units that they currently occupy personally of approximately **6–8 months** following settlement. This is a rare opportunity to capitalize on land value and redevelopment potential in a historically significant location. Serious, qualified investors only.

Listing courtesy of Homestead Real Estate Co Inc.



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