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107 Old Goshen Rd Road
Cape May Court House, NJ 08210
SEAN MULLIGAN with ARC REAL ESTATE, original listing - (609) 371-4265
$599,900
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
Exceptional Healthcare Facility Opportunity in Dennis Twp, NJ South Seaville Manor Auxiliary, Inc., a 501c (3) Non-Profit Organization, offers an exclusive opportunity with this Residential Health Care Facility (RHCF) and Hospice located in the peaceful Cape May County. This property, designed to serve the terminally ill and disabled, is ideal for investors or organizations looking to make a meaningful impact in healthcare services. This property presents a rare chance to develop a compassionate and much-needed healthcare facility in a community eagerly awaiting such services. The serene location combined with the significant square footage and existing approvals make it an ideal investment for specialized healthcare providers or non-profit organizations. Exceptional Healthcare Facility Opportunity in Dennis Twp, NJ South Seaville Manor Auxiliary, Inc., a 501c (3) Non-Profit Organization, offers an exclusive opportunity with this Residential Health Care Facility (RHCF) and Hospice located in the peaceful Cape May County. This property, designed to serve the terminally ill and disabled, is ideal for investors or organizations looking to make a meaningful impact in healthcare services. Property Details: Type: Residential, suitable for conversion to RHCF and Hospice. Year Constructed: 1975. Interior Space: 6,852 sq ft. Acreage: 0.6 acres. Current Status: The building has been vacant for 20 years, primarily used for storage. Features: Capacity: Plans for 20 private rooms with private baths for each resident. Utilities: Electricity (Atlantic City Electric), natural gas (South Jersey Gas), and broadband internet (Comcast Cable, Verizon DSL). Tax Benefits: Eligible for tax-free waiver upon operating. Investment Highlights: Unique Offering: The only non-profit RHCF in Cape May County, Southern New Jersey. (Our understanding) Development Potential: Requires build-outs; initial renovations were approximately completed around 2000. Approvals: Existing approvals go with the property, helping with ease of transition. This property presents a rare chance to develop a compassionate and much-needed healthcare facility in a community eagerly awaiting such services. The serene location combined with the significant square footage and existing approvals could make it an ideal investment for specialized healthcare providers or non-profit organizations. Please see the video tour and schedule a showing today.
Property Information
Lot Size
0 sqft square ft
Property Type
Commercial Sale-Other
Year Built
--
MLS Number
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Location
Address
107 Old Goshen Rd Road
City
Cape May Court House
State
NJ
Zip Code
08210
County
CAPE MAY
Listing
Provider
ARC REAL ESTATE, original listing
Name
Phone
(609) 371-1600
Office Name
Office Phone
(609) 371-4265
Agent Name
SEAN MULLIGAN
Agency Phone
(609) 371-4265

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.