705 Route 9, Lower Township, NJ 08204

$2,900,000
List Price
$2,900,000
Price Change
▼ $600,000 1675377815
Status
ACTIVE
MLS#
223046
Region
Lower Township/North of Canal
City
Lower Township
Acres
11.85

Property Description

11.85 acres just a short distance to Cape May and the Wildwoods. Currently used as a solar field. This property once had approvals for approximately 48 three bedroom, two bath townhouses (see pictures and associated docs for plans). There are approximately six years left on the solar lease. At the termination of the lease in January 2028, the solar panels become property of the property owner. Currently, solar panels are owned and maintained by a third party company. Property and office building are being sold strictly in "AS-IS" condition. Solar panels have an expected life usage of 25 years, which gives the new owner the opportunity to continue the solar field operation (approximately 10 years left). Keep the panels or remove and pursue development opportunities.

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Calculator source: Real Geeks

Listing courtesy of deSatnick Real Estate LLC - North Wildwood.