Rivera Realty

240 NEW JERSEY AVENUE, FORTESCUE, NJ 08321

240 NEW JERSEY AVENUE, FORTESCUE, NJ 08321

$2,500,000

Sq. Ft.: N/A
Type: Commercial
Listing Courtesy of: DePalma Realty (856) 825-5500
Request Information
Please welcome 240 New Jersey Avenue to the market. This bayfront property is located in up and coming Fortescue, a picturesque Bayshore town and a fisherman's paradise that has largely yet to be discovered. This town is a hidden gem lining the Delaware Bay with quaint, beachfront properties. It is one of the only places left on the Eastern Seaboard where you can get million-dollar views at a major value. But this property isn't just in a beautiful, peaceful location, it also represents an incredibly lucrative investment opportunity. This piece of land is 1.5 acres RIGHT ON THE BAY and is currently known as Heritage Bayfront Camping Resort with 20 campground spots ready for your RV, and with electrical connections already in place. What's more is how the ground itself could be utilized in the future. Sitting in the Resort Residence Zone, this property has potential use as a full-on mobile home park, luxury bayfront single family home, bed & breakfast, or, as the town of Fortescue continues to grow, a restaurant location or hotel location? and the uses don't end there. The property also includes a 3-bay garage with new flooring as well as a single-family home and lot 43.01, which includes a riparian grant 400+/- feet into the Delaware Bay. Finally, the seller has had a bulkhead permitted and ready to be built that is tall enough to exceed the floodplain, potentially saving thousands in flood insurance. Fortescue has seen tremendous growth the past few years and holds the fundamentals of location, value, and timing that are necessary for a phenomenal real estate investment to pay off. The Township is currently in the works to bring public sewer, which will further increase investment in the area. A water supply company is already in place and services this location. You do not want to be the investor that waited and in 10 years Fortescue is a bustling beach, fishing, and tourism town where prices are much higher! The property includes lots 41-42-43 & 43.01. The owner will either credit the buyer $500,000.00 and sell it as is, or install a brand-new bulkhead in front of this property at the current list price.
Listing Courtesy of: DePalma Realty (856) 825-5500
Property Features
Location Information
County: CUMBERLAND
Municipality: DOWNE TWP
Cross Street: Bayview Blvd
Latitude: 39.23671
Longitude: -75.17123
MLS Area: Downe Twp (20604)
Interior Features
Heating: None
Heating Fuel: None
Cooling: None
Exterior Features
Is New Construction: No
Septic or Sewer: On Site Septic
Water: Community
Lot Size in Acres: 1.43
Commercial/Industrial Type: Bed and Breakfast, Campgro
Approximate Net Sq. Ft.: 1,438
Road Frontage: 377
Has Waterfront: Yes
Has Water Access: Yes
Additional Information
ListDate: 2023-10-10 00:00:00.0
Property SubType: Commercial Sale
Year Built: 1920
Status: Active
Tax Year: 2023
Tax Amount: $7,915


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List Price:
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
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BRIGHT(MRIS/Trend) data last updated at May 2, 2024 11:18 PM ET