Island Beach Gear - Double-Sized CORNER Lot 900-908 Bay Ave 10,500 SF 1% Leased Retail Building Ocean City, NJ 08226 $4,885,720 CAD ($465.31 CAD/SF)

TROPHY LOCATION - LOCATION - LOCATION! This super rare Double Lot 227x107 HUGE CORNER LOT is located NEAR OPEN BAY in Ocean City NJ's Drive-in Business /Mixed-Use Zone and offers incredible ENDLESS POSSIBILITIES! Enlarge existing commercial expansion ideas and/or pursue various Mixed-Use Redevelopment Opportunities!
Currently, there is a landmark operating business situated on the property known as “Island Beach Gear”. Main retail floor boasts 8,400 sq ft with an additional 2,100 sq ft of storage on the 2nd floor off the back of the building with a total of 10,500 sq ft of operational retail space, plus a large parking lot and delivery trailer access in the side of building. Approved uses in this zone include retail, professional office, food service/restaurants, drive thru business, and many others. There is an easement off the backside of the property for the benefit of the owner. In past years, existing business owners secured approvals for an expansion of the existing retail operation which included a two-story building (images of approved plans are included). Another fabulous option is redevelopment! The coveted commercial 100x107 corner parcel boasts the highest traffic intersection in all of Ocean City which translates to high volume traffic and lucrative profits for any business with the highest visibility like no other which you want to design and call your own for this corner. This allows you creative opportunity to build a by-right commercial only building on the 100 x 107 corner lot (highest visibility on the island); and a mixed-use residential units on top of commercial) building on the 127 x 107 adjacent lot along Bay Ave. Seller is open to contracting with a buyer for the property subject to seller getting approvals for the mixed-use project. Current tenant's lease expires Sept 1st, so current retail building is also being listed for lease effective Sept 2025.
Call us directly for more specific details, to schedule a private showing and make an offer today!