New

$6,000,000

For Sale

8 days ago

513 Washington Street, Cape May, NJ

Name: 513 Washington Street, For Sale in Cape May - eXp Realty
Brand: HOFFMAN AGENCY
SKU: 262299
Price: 6000000 USD

House

MLS® 262299

0 Bed

0 Bath

8750 sqft

Key Facts
Description
Map

Key Facts

Type Industrial

Levels Commercial Sale

Size 8750 sqft

Garage

Taxes $26,838

Days Active 7

Lot Size

Approx. Age

Avg. Price Per Sqft $685

MLS® Number 262299

Property Address: 513 Washington Street, Cape May, NJ, 08204

Average square foot calculated using Size range provided by listing agent.

Description

513 Washington Street — Cape May, NJ Three mercantile licenses. 6, 015 square feet of masonry block footprint. One of the largest buildings on the Washington Street Mall. 513 Washington is a substantial masonry block structure occupying one of the deepest footprints on Cape May's premier pedestrian retail corridor. The building currently supports three separate mercantile commercial tenancies — a rare configuration on a mall where most buildings carry one. Current income is $249, 735 annually, anchored by a long-term confectionery tenant through January 31, 2031. Real estate taxes are $25, 954. Market rent on the mall currently runs approximately $150 per square foot on new leases. The building is more than a storefront. Two sections rise to multiple stories. The front section runs three levels, with the upper floors currently configured as office and readily convertible back to residential use. The rear section carries a two-bedroom layout on the second floor. This is above-grade square footage on the Washington Street Mall — space that most buildings on this corridor simply don't have. Vertical expansion warrants investigation. The masonry block construction and the scale of the footprint raise a further question: whether additional stories could be added above the existing structure. Cape May's seasonal economy runs on a workforce that has nowhere to live, and employee housing above commercial space on the mall — subject to municipal approvals and historic district review — would address a documented need while adding an income stream the building does not currently produce. A buyer with the patience to work the approvals process may find a path here that doesn't exist elsewhere on the mall. Three licenses in place, real above-grade area, and a location that cannot be replicated. Leases available upon request.

MLS® Number262299

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age

Basement

Driveway

Garage Spaces

HeatGas Natural

A/CCentral Air Conditioning

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Aug 19, 2026List Date

$6,000,000List Price

Commute

Commute

Starting Address

Destination Address

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment

I want to view this property

By pressing "Take a Tour", I confirm that I have read and agree to the eXp Privacy Policy, and Terms of Use.

By pressing "Take a Tour", I am electronically signing and consenting to receive marketing comms about real estate brokerage and mortgage lending services, delivered via email, phone and/or text (using "automated technology" such as an automatic telephone dialing system, and/or an artificial or prerecorded voice), from eXp Realty® and its independent contractor real estate professionals and their affiliate SUCCESS® Lending using the contact information I provided. Your consent is not a condition of purchase and you may revoke it at any time by replying "STOP" to any texts. Text HELP for more info. Message and data rates may apply. You may also contact us directly at 1-844-683-4664.

Similar Listings

Comparable Properties

DMCA Notice

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply

Fair Housing and Reasonable Accommodations

MLS Compliance Statements

Karen Richards - Designated Managing Broker, Broker Operations - TX

Texas Real Estate Commission information about brokerage services

Texas Real Estate Commission Consumer Protection Notice

eXp Realty® is committed to adhering to the guidelines of The New York State Fair Housing Regulations.The Fair Housing Notice →

*Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H.Learn More →

eXp Realty of California, Inc. | CA DRE# 01878277 | Deborah Penny - Designated Broker

eXp Realty of Southern California, Inc. | CA DRE#01325837 | Jason Crawford – Designated Broker

eXp Realty of Greater Los Angeles, Inc. | CA DRE# 01240990 | Mike Mendibles - Designated Broker

eXp Realty of Northern California, Inc. | CA DRE# 01951343 | Ryan Rosas - Designated Broker