Two Wildwood Motels Sold
It’s the week of the Fourth of July and we learned that two more Wildwood motels have been sold.
This has truly been a crazy year of motels being sold left and right. Before we get into the story check out the list below of motels that have been sold so far this year. You can click the link to get more information about it’s sale.
Blue Marlin Motel Sold
The Tropicana Motel SOLD
The Aruba Motel Sold
Pink Champagne MotelSold
Sea Foam SOLD
Commander By The Sea SOLD
Now let’s get into it. While scrolling the Property Transfer Records for Cape May Country we noticed that two buildings had sold, 4906 Ocean Ave for $508,000 and 5010 Ocean Ave for $522,000.
Looking at the addressed we found that the 4906 Ocean Ave is the address for Rus Mar Motel and 5010 Ocean Ave is the address for the Rio Motel and Suites.
What is interesting about the sale is that they sold to similar generic LLCs. (4906 Ocean LLC and 5010 Ocean LLC). This tells me that these had to be purchased by the same owner.
Looking at the lots online they are only one block apart and really do not take up too much room. I am very interested to see what would be done to these properties. It doesn’t look like enough space to knock down and build condos. To show you what I am referring to I decided to upload a photo of the two lots and highlight the buildings in yellow.
Two Wildwood Motels Sold