Humphrey Hughes House

Cape May, New Jersey
coldwellbankercapemay.com/property.php?MLSNo=210
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Property Type
Potential Bed & Breakfast
Guest Rooms
10
Baths
12
Restaurant
No
Owners Quarters
Yes
Asking Price
$3,999,999

Occupancy Rate
75%
Average Daily Rate
$250
Gross Revenue
$721,865
Gross Revenue Multiplier
6

Property Overview

Magnificent seaside estate located in the primary historic district of the oldest seashore resort in the United States. This beach block property is located within walking distance of all attractions in the city of Cape May.


Property Description

This circa 1900 seaside cottage is on the beach block of one of New Jersey's finest resorts. Located within walking distance of this seaside beauty are some of the finest restaurants in the State, outdoor cafes, quaint shops, theater, and the best collection of Victorian Homes at the shore. Relax on the fifty foot front porch with ocean views and warm Summer breezes as the horse and carriage slowly pass by. Formal living room, with cozy fireplace and spectacular carved woodwork, dining room for ten with fireplace, large parlor, glass enclosed sunporch with ocean views, innkeepers' quarters.


Business Description

One of Cape May's premier Bed and Breakfast Inns for the last 32 years. This Inn has a license for 10 guest rooms and 2 apartments and has been maintained since retirement. Ten guest rooms, some with sitting rooms, all with private baths. Private owners' quarters, housekeepers bedroom, laundry area, work space. Owners retired 2 years ago the financial information is based on 2021 potential income.


Reason for Selling

Owners retired two years ago, they have been living in residence for 2 years.


Terms & Asking Price

Conventional loan.