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9 E 55th St

Ocean City, NJ 08226
  • $2,800,000
  • STATUS: Active
  • ON SITE: 87 Days
  • MLS #: 568592
UPDATED: 64 min ago
$2,800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Fantastic MIXED USE / MULTI-FAMILY Development OR Renovation Opportunity! Large Ocean City NJ Southend -Double CORNER 80 x 115 lot! Property is located just a 3 short blocks from Ocean City beaches, tucked right off of Ocean Drive & approved for "Mixed Use" in the Neighborhood Business Zone. PURCHASE AS IS to operate your own Restaurant/Neighborhood Food Service Business(s) or any other commercial use, plus renovate and/or expand/enlarge the existing 2nd Fl residential unit for your family to reside in, renovate/expand and/or rent out. The current Subject Property use is a Landmark famous Ocean City restaurant, known as "Captain Bob's Restaurant" that is approved for private membership BYOB dinners. Operational restaurant boats fantastic INDOOR-OUTDOOR Dining, Take Out Window & Tons of Parking. The inside of the existing restaurant has 12 tables/ seating for 52, but is zone approved for seating up to a 100 customers. Restaurant has two restrooms. The outdoor seating provides an addition 12 tables /seating for 24. Parking lot has 14 designated parking spaces, plus space for an additional 16 spaces if double-stacked/valet. The building also consists of a Seller's large private residential unit on the 2nd floor, consisting of 3 bedrooms and 1.5 baths; large eat in kitchen; living room; sitting room/den with fireplace; hardwood floors throughout; large standup storage attic; and garage. And if opting for an AS IS purchase, the whole property offers fantastic "value-add" upside potential if fully renovated/expanded.... OR... As a prospective development, choose to either: 1) Subdivide and build TWO 3-Unit buildings on 40x115 lots OR, 2) Build ONE large 7-Unit mixed use building on 80 x 115 lot (Similar concept 7-unit mixed-use building was just built on very small 50x70 lot at 601 Asbury Ave) and which still leaves generous space forgarages and plenty of parking. The proposed Seven (7) Unit development would include Four (4) extra large five to six bedroom luxury residential units (approx 2200 sq ft each) + Three (3) commercial units (approx 3,800 sq ft: consisting of either three 1,260 sq ft units; or two 1,000 sq ft units and one large 1,800 sq ft unit). Purchase AS IS with a renovation/expansion upside, or future new development opportunity, or both. Live at the beach and run your dream business! Lots of options here. If you know the market here, opportunities in Ocean City NJ like this one do not come around often at all. So if you, your family, business partners, or someone you know has interest in this property listing and the investment and income producing opportunities associated with it, please act quickly andCALL NOW!

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© 2023 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 2023-01-27T18:50:15.02.
www.oceancitynewjerseyhomes.com/homes/134388855
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9 E 55th St Ocean City, NJ 08226

  • Price: $2,800,000
  • Status: Active
  • On Site: 87 Days
  • Updated: 64 min ago
  • MLS #: 568592
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Ocean City/Southend
County:
Cape May
Area:
Ocean City/Southend
Property Description
Fantastic MIXED USE / MULTI-FAMILY Development OR Renovation Opportunity! Large Ocean City NJ Southend -Double CORNER 80 x 115 lot! Property is located just a 3 short blocks from Ocean City beaches, tucked right off of Ocean Drive & approved for "Mixed Use" in the Neighborhood Business Zone. PURCHASE AS IS to operate your own Restaurant/Neighborhood Food Service Business(s) or any other commercial use, plus renovate and/or expand/enlarge the existing 2nd Fl residential unit for your family to reside in, renovate/expand and/or rent out. The current Subject Property use is a Landmark famous Ocean City restaurant, known as "Captain Bob's Restaurant" that is approved for private membership BYOB dinners. Operational restaurant boats fantastic INDOOR-OUTDOOR Dining, Take Out Window & Tons of Parking. The inside of the existing restaurant has 12 tables/ seating for 52, but is zone approved for seating up to a 100 customers. Restaurant has two restrooms. The outdoor seating provides an addition 12 tables /seating for 24. Parking lot has 14 designated parking spaces, plus space for an additional 16 spaces if double-stacked/valet. The building also consists of a Seller's large private residential unit on the 2nd floor, consisting of 3 bedrooms and 1.5 baths; large eat in kitchen; living room; sitting room/den with fireplace; hardwood floors throughout; large standup storage attic; and garage. And if opting for an AS IS purchase, the whole property offers fantastic "value-add" upside potential if fully renovated/expanded.... OR... As a prospective development, choose to either: 1) Subdivide and build TWO 3-Unit buildings on 40x115 lots OR, 2) Build ONE large 7-Unit mixed use building on 80 x 115 lot (Similar concept 7-unit mixed-use building was just built on very small 50x70 lot at 601 Asbury Ave) and which still leaves generous space forgarages and plenty of parking. The proposed Seven (7) Unit development would include Four (4) extra large five to six bedroom luxury residential units (approx 2200 sq ft each) + Three (3) commercial units (approx 3,800 sq ft: consisting of either three 1,260 sq ft units; or two 1,000 sq ft units and one large 1,800 sq ft unit). Purchase AS IS with a renovation/expansion upside, or future new development opportunity, or both. Live at the beach and run your dream business! Lots of options here. If you know the market here, opportunities in Ocean City NJ like this one do not come around often at all. So if you, your family, business partners, or someone you know has interest in this property listing and the investment and income producing opportunities associated with it, please act quickly andCALL NOW!
Exterior Features

Driveway Gravel Garage Attached GarageThree Or More Cars Location CornerSee Remarks Lot Dimensions 80 X 115 (Double Lot) Outside Features Bay ViewCurbsPatioSidewalks Parking Three Or More Cars Siding Exterior ConcreteVinyl Storms Screens Combination Waterfront YN No

Interior Features

Air Conditioning Ceiling Fan(S)CentralGasWindow Units Appliances DishwasherDisposalDryerGas StoveMicrowaveRefrigeratorWasher Basement Crawl Space Heating BaseboardForced AirGas-Natural Other Rooms Den/Tv RoomDining AreaEat In KitchenKitchenLaundry/Utility RmLiving RoomStorage Attic Water Heater Gas

Property Features

Adult Community /55+ No Approved Short Sale N/A Auction YN No Bank Owned Foreclosure No May Be Subject To Third Party Approval Short Sale No Multifamily Type 4 - 10 Units New Construction No Rental Information 100 Percent OccupancySeasonalSee Remarks Sale Or Rent For Sale Separate Meters Cable TvCoolingElectricGasHeatHot WaterSewerWater Sewer Public Sewer Suitable For Condo ConversionExpansionMulti Family + RoomsOther (See Remarks) Tax Year 2022 Taxes 7878 Water Public

South Jersey Shore Regional MLS logo Listing information © 2023 South Jersey Shore Regional MLS.
Listing provided courtesy of Keller Williams Realty Jersey Shore-Ocean City: .


© 2023 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 2023-01-27T18:50:15.02.
 
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The Cheryl Huber Team
109 34th St
Ocean City NJ, 08226