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About This Property
Seize this rare chance to acquire a .30-acre vacant commercial lot located directly across from the Atlantic Ocean on highly visible S. Atlantic Avenue. When combined with the adjacent building at 1630 S. Atlantic Avenue, the total property expands to approximately .70 acres, unlocking an exceptional development opportunity in one of the area's most desirable beachside corridors.
Zoned commercial, this property offers flexible use options-ideal for a luxury short-term rental complex, boutique hotel, mixed-use development, or six high-end residential units (up to 35 feet in height). Enjoy stunning ocean views, strong year-round traffic, and proximity to restaurants, retail, and major attractions.
Property Highlights:
Combined .70-acre site (vacant lot + rental building)
Directly across from the ocean with exceptional visibility
Zoned commercial with flexible development potenti
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 22, 2026 | Price Increased |
$950,000
↑ $60K
(6.7%) | |
| Price Increased | |||
| Oct 31, 2025 | Listed by Cornell Real Estate | $890,000 | |
| Listed by Cornell Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017