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$6,500,000
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Property Description
Once in a Lifetime Prime Waterfront Development Opportunity in Cape May An exceptional opportunity to develop 0.7 acres of waterfront property on Cape May's Yacht Ave. This rare offering includes approved plans for a seven-townhome condominium association with a small marina, creating an exclusive waterfront community in one of Cape May's most desirable locations. Situated in a highly walkable location, this property offers convenient access to the Marina District, where you'll find some of Cape May's most popular restaurants, including Lucky Bones, The Lobster House, and Meyer's. Just a short distance away, explore the charm of Historic Cape May, known for its Victorian homes, boutique shopping, and pristine beaches. Cape May is a premier destination for boaters and coastal enthusiasts, providing direct harbor access and a vibrant seaside atmosphere. Whether you're an investor, developer, or visionary buyer, this is a rare opportunity to bring a luxury waterfront project to life. For those seeking to create their own waterfront masterpiece, this property also presents the unique opportunity to design a private luxury estate with unparalleled harbor views. Imagine a custom-built home or two with expansive decks, private docks, and direct access to Cape May's premier boating waters-a haven for yachting, fishing, and waterfront living at its finest. Whether as a multi-unit development or a one-of-a-kind private retreat, this rare waterfront property is a blank canvas ready for your vision: Highlights - Dig Ready for 7 townhomes, 1Existing renovated Historic Home, 17 -23 slips, 7 marina parking, marina bathroom room, 7 overflow residential parking, Garages for townhomes. Need a builder we can supply a fantastic local builder who has been involved from the beginning on this project.
Full Property Details
Full Property Details for 1505 Yacht Ave
General
- Sold For: $6,500,000
- Taxes: $14,491 (2024)
- Status: Closed
- Type: Commercial Investment
- Source: BrightMLSPhilly
- MLS ID: NJCM2005008
- Added to Site: 346 day(s) ago
Business
- Business Type: Other
Additional Information
- Equipment: See Remarks
Parking
- Total Spaces: 11
- Parking Type: Parking Lot
Location
- Area: Cape May City (20502)
- Municipality: CAPE MAY CITY
- County: CAPE MAY
- Subdivision: CAPE MAY CITY
- Driving Directions: Yacht Avenue.
- Location Details: Corner Lot/Unit
Heating & Cooling
- Cooling Type: Other
- Cooling Fuel: Other
- Heating Type: Other
- Heating Fuel: Other
- Water Heater: Natural Gas
Utilities
- Sewer: Public Hook/Up Avail
- Water: Public
Structural Information
- Construction: Shake Siding
- Year Built: 1900
- Year Built Source: Estimated
- Property Condition: Excellent
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Dimensions: .7366
- Zoning: R-5
Water Features
- Water Front: Yes
- Navigable Water: Yes
- Water Access: Yes
- Water Front Type: Canal
- Dock/Slip Conveys: Yes
- Docks: 5
Financial Considerations
- Assessment Year: 2024
- City/TownTax Freq: Annually
- County Tax Freq: Annually
- Tax w/Assessment: $1,371,000
- Tax Amount: $14,491
- Tax Year: 2024
Disclosures and Reports
- Ownership: Other
- Lot Number: 6
Listed and Sold by Coastline Realty, LLC, Carol A. Menz
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Schools
Schools serving 1505 Yacht Ave
School Districts:Cape May City School District, Lower Cape May Regional School District
| Name | Grades | Distance |
|---|---|---|
Cape May City Elementary School 921 Lafayette Street, Cape May, NJ 08204 | PK-6 | 0.8 mi |
Richard M Teitelman School 687 U.S. 9, Cape May, NJ 08204 | 7-8 | 2.1 mi |
Lower Cape May Reg High School 687 U.S. 9, Cape May, NJ 08204 | 9-12 | 2.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1505 Yacht Ave
Date
Details
Price
Change
Source
1/15/2026
Sold
$6,500,000
-10.34%
MLS
5/23/2025
Price Reduced
$7,250,000
-6.45%
MLS
4/08/2025
Listed
$7,750,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1505 Yacht Avenue, Cape May, NJ 08204 (MLS# NJCM2005008) is a Commercial Investment property that was sold at $6,500,000 on January 15, 2026. Want to learn more about 1505 Yacht Avenue? Do you have questions about finding other Commercial Investment real estate for sale in Cape May? You can browse all Cape May real estate or contact a Coldwell Banker agent to request more information.

