Beachfront Land Parcel At 111 South Amherst Avenue Ventnor City Sold For $1.1M
111 Amherst Avenue
$1,100,000
$293/SF
Building Size
3,750 SF
Asset Type
Land
Closing
Sep 13, 2024
AI
A beachfront land parcel located at 111 South Amherst Avenue in Ventnor City has been sold, achieving a sale price of $1,100,000. The lot encompasses a total of 3,750 square feet, translating to a price per square foot of $293. The property's location provides prime access to the Atlantic Ocean and is in proximity to Atlantic City and Margate, making it suitable for a second home.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,100,000
- Lot Size: 3,750 SF
- Price per Square Foot: $293
- Address: 111 South Amherst Avenue
- Market: Ventnor City
- Broker: Joseph Bograd - New Era Real Estate
Joseph Bograd from New Era Real Estate represented the transaction, facilitating the sale of this beachfront land parcel. The deal reflects the ongoing interest in properties with direct access to oceanfront locations.
Ventnor City Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93