"It's just two blocks from the boardwalk and the beach," says Brian Weaver of Marcus & Millichap's New Jersey office. "The property can be easily developed into a hotel, timeshare or condominium. The City of Wildwood and officials of the newly constructed convention center have expressed great desire to see a project of this nature come online in Wildwood."

And the site comes with clearance from local officials for a substantial development. Current zoning calls for a height of 25 stories or 250 feet, and 600,000 sf of building space above garage levels. The seller has released a rendering of what such a project might look like.

Located within walking distance of this oceanfront city's convention center, the site is in an area that has seen a number of new developments in recent years. It's also an area that is in the center of a tourism and entertainment district with retail, restaurants and nightclubs.