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801-811 Atlantic Ave

Ocean City, NJ 08226
  • $10,000,000
  • STATUS: Active
  • ON SITE: 76 Days
  • MLS #: 566972
$10,000,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

Impossible to find, perhaps just SIMPLY UNHEARD OF... YET HERE IT IS!! This offering is for TWO income producing hotels @ 10% CAP RATE - both w/value added upside to increase cash flows & optional renovation/expansion and condo conversion opportunity. These incredible income producing properties are ideally situated on a highly coveted PRIME BEACH BLOCK/ OFF-BOARDWALK location, on the island resort of Ocean City NJ ("Americas Greatest Family Resort at the South Jersey Shore). Just steps to its white soft sandy beaches & world famous Ocean City Boardwalk, they are indisputably positioned within the island's highest traffic volume for beach, boardwalk, hospitality & tourist destination spots right in the heart of the Hospitality Zone, with generous by-right approved usages. This 77-Key multiple building commercial /multi-family property consists of: 801 Atlantic Ave, Ocean City NJ 08226, commonly known as the Pavilion Motel (consist of 58 keys (57 Rooms + a managers apt); swimming pool, parking lot, main reception area & onsite small leased restaurant) & sits on HUGE very rare 300x100 corner lot; and 811 Atlantic Ave, Ocean City NJ 08226, commonly known as the Fountain View Motel (adjacent value added motel next door w/19 keys) & sits on the adjacent 90x100 CORNER lot. Given the historically high level of interest in the Jersey Shore island markets for such an incredibly rare opportunity, coupled with the current high demand for impressive cash flow opportunity (w/lots of upside) and so few hospitality properties currently servicing this market, time is of the essence! We invite you to explore this unique WEALTH CREATION OPPORTUNITY in further detail. This is your chance to secure an immediate acquisition of income producing assets at an IMPRESSIVE CASH FLOW AT HIGHLY COMPETITIVE CAP RATE, value added upside w/ optional future condo conversion opportunity and/or renovation/expansion of existing operation. This offering is listed 3 ways: $10 million for hotels (801-811 Atlantic Ave) only; $6 million for additional affiliated apartment building (819 Moorlyn Terrace) only; and $16 million for all three parcels altogether comprising 1 ACRE OF BEACH BLOCK / OFF-BOARDWALK property (801 Atlantic Ave). Contact listing agent for Confidentiality/NDA, which is available to financially qualified buyers - Don't hesitate another minute - you must act on this today!

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© 2022 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Cheryl Huber Team. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2022-11-27T23:49:50.147.
www.oceancitynewjerseyhomes.com/homes/133005830
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801-811 Atlantic Ave Ocean City, NJ 08226

  • Price: $10,000,000
  • Status: Active
  • On Site: 76 Days
  • MLS #: 566972
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Ocean City/Central
County:
Cape May
Area:
Ocean City/Central
Property Description
Impossible to find, perhaps just SIMPLY UNHEARD OF... YET HERE IT IS!! This offering is for TWO income producing hotels @ 10% CAP RATE - both w/value added upside to increase cash flows & optional renovation/expansion and condo conversion opportunity. These incredible income producing properties are ideally situated on a highly coveted PRIME BEACH BLOCK/ OFF-BOARDWALK location, on the island resort of Ocean City NJ ("Americas Greatest Family Resort at the South Jersey Shore). Just steps to its white soft sandy beaches & world famous Ocean City Boardwalk, they are indisputably positioned within the island's highest traffic volume for beach, boardwalk, hospitality & tourist destination spots right in the heart of the Hospitality Zone, with generous by-right approved usages. This 77-Key multiple building commercial /multi-family property consists of: 801 Atlantic Ave, Ocean City NJ 08226, commonly known as the Pavilion Motel (consist of 58 keys (57 Rooms + a managers apt); swimming pool, parking lot, main reception area & onsite small leased restaurant) & sits on HUGE very rare 300x100 corner lot; and 811 Atlantic Ave, Ocean City NJ 08226, commonly known as the Fountain View Motel (adjacent value added motel next door w/19 keys) & sits on the adjacent 90x100 CORNER lot. Given the historically high level of interest in the Jersey Shore island markets for such an incredibly rare opportunity, coupled with the current high demand for impressive cash flow opportunity (w/lots of upside) and so few hospitality properties currently servicing this market, time is of the essence! We invite you to explore this unique WEALTH CREATION OPPORTUNITY in further detail. This is your chance to secure an immediate acquisition of income producing assets at an IMPRESSIVE CASH FLOW AT HIGHLY COMPETITIVE CAP RATE, value added upside w/ optional future condo conversion opportunity and/or renovation/expansion of existing operation. This offering is listed 3 ways: $10 million for hotels (801-811 Atlantic Ave) only; $6 million for additional affiliated apartment building (819 Moorlyn Terrace) only; and $16 million for all three parcels altogether comprising 1 ACRE OF BEACH BLOCK / OFF-BOARDWALK property (801 Atlantic Ave). Contact listing agent for Confidentiality/NDA, which is available to financially qualified buyers - Don't hesitate another minute - you must act on this today!
Exterior Features

Commercial Style Comm. W/ApartmentsCommercialHotelMotelOther (See Remarks) Exterior Features FenceSignSwimming Pool Location Beach BlockBoardwalk AreaBusiness DistrictCommercial ParkCornerIslandSee RemarksShopping Center Lot Dimensions 300X100+75X90 Parking 11 Or More SpacesAssignedOne Per Unit Motel/HotelOther (See Remarks)Paved Road Frontage Township

Interior Features

Air Conditioning Ceiling Fan(S)Window Units Elevators 1 Flooring Carpet-PartialCarpet-Wall To WallConcreteHardwoodLinoleum/VinylOther (See Remarks) Heating BaseboardForced AirGas-NaturalHot WaterMulti-ZonedSee Remarks Hot Water Gas Interior Features Elevator PassSecurity SystemSmoke/Fire AlarmStorage Specialty Rooms Laundry RoomUtility Room

Property Features

Approved Short Sale N/A Auction YN No Available EquipmentFixturesFurnishingsIncome Expense Info.InventoryLease InformationLiving SpaceOther (See Remarks)Refrigeration/FreezerState Housing CertificateUtility Information Bank Owned Foreclosure No Buildings 3 May Be Subject To Third Party Approval Short Sale No Sewer Public Sewer Tax Year 2022 Taxes 66109 Water Public

South Jersey Shore Regional MLS logo Listing information © 2022 South Jersey Shore Regional MLS.
Listing provided courtesy of Keller Williams Realty Jersey Shore-Ocean City: .


© 2022 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Cheryl Huber Team. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2022-11-27T23:49:50.147.
 
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The Cheryl Huber Team
109 34th St
Ocean City NJ, 08226