Property Description:

Scarborough Inn B&B

BOUTIQUE HOTEL FOR SALE

Award-Winning Scarborough Inn is one of Ocean City’s premier bed & breakfast Inns, which easily could be renovated into a Luxury Boutique Hotel, or converted into a multi-family investment property at the Jersey Shore! Possibilities are endless with any savvy and innovative investor.  This charming and beautifully restored 4-story building is approximately 16, 00 sq ft; consists of 24 spacious guestrooms, all with private baths; a ground floor level that provides upside to a new owner with a vision for expansion; and an onsite laundry.  The property’s vintage charm and modern amenities include a dining room where breakfast and tea are served, a business center, outside garden, 100 foot wrap around porch & spectacular living room with fireplace, and so much more! The Scarborough Inn also features an owner’s apartment, and staff quarters. This Landmark Property for sale in Ocean City New Jersey sits on a very large 50 x 135 desirable lot. (Seller also independently owns and leases an adjacent 50 x 135  parking lot that can accommodate up to 24 cars. This lot is NOT included with this sale and is listed separately for sale.) Property is centrally and ideally located in the heart of the Hospitality Zone, and its guests will enjoy a short walk to the Ocean City Beach, the world famous Ocean City NJ Boardwalk, bike rentals, Ocean City restaurants and ice cream shops, plus downtown shopping.

Seller’s Assets Include:

• ~ Subject Property is 16,000 sq Ft Building
  4 floors with approx 4K sq ft per floor
  (50 x 135 Lot): Block 705, Lot 15

• ~ LISTED SEPARATELY FOR SALE
  Adjacent Parking Lot w/24 Parking Spots
  (50 x 135 Lot): Block 705, Lot 14

• ~ Operating Business FF&E /Commercial Assets

• ~ CLIENT DATABASE: Sellers have more than 20,ooo contacts in their reservation system

• ~ PROPERTY BUILDING OPERATING SPECS:
  35 current rooms (mixed-use/ common and private spaces); however only 22-24 of rooms in active Inn inventory rented generating $375 to $400K in seasonal only gross sales

Building Specs:

Ground Floor:

• Storage (bedroom size room w/rough plumbing & closet next to it)

• Staff Lounge (bedroom size room)

• Storage (bedroom size room with a closet that used to be a bathroom)

• Room: currently J1 room consisting of: 3 twin beds + bathroom

• Room: currently J1 room consisting of: 3 twin beds + bathroom

• Storage: (extra-large bedroom + bathroom)

• Storage: (bedroom size bedroom + bathroom)

• Storage: (single smaller bedroom + bathroom)

• Maintenance Room (with a closet that used to have a bathroom, but it has a utility sink for painters)

• Storage (bedroom size room, beside laundry room, currently used as housekeeping supply room)

• Guest Laundry/Storage (pluming for a bathroom) –currently for guest paid laundry; J-1s pay to do their laundry here; locker room

• Commercial Laundry

• 2 common bathrooms (no showers)

1st (Main) Floor:

• Front Desk Reception area 1)

• Double Living Room

• 1&7-Apartment, full kitchen/living room, bathroom

• 2-Manager’s private Office

• 4 & 6-Commercial Dining Room w/ kitchen

• 3-Room: king bed, bathroom

• 5-Room: queen bed, bathroom

• 8-Apartment: kitchen, pullout Q sofa-bed, Q bed, bathroom

• Small Laundry Room (plumbing)

2nd Floor:

• Library (no bathroom right now, however, maid’s closet used to be the bathroom for this room)

• 9-Q Room, bathroom

• 10-Q Room, bathroom

• 11-Q Room, bathroom

• 12-Q Room, bathroom

• 14-Q Room, bathroom

• 15-Q Room, bathroom

• 16-Q Room, bathroom

• 17-Room, 2 twins, bathroom

• 18-Q Room, bathroom

• 19-Room, 2 twins, shared bathroom (Jack-n-Jill, shared w/19A)

• 19A-Room, queen, shared bathroom

• 20-Q Room, bathroom

• 22-Room, daybed/trundle (2 Twin beds), shared bathroom

• 22A-Room, queen, shared bathroom

3rd Floor (top):

• 23-Game/common office space ( with plumbing- but no bathroom) There is a sink & ice machine in this room

• 24-Q Room, bathroom

• 25-K Room, bathroom

• 26-K Room, bathroom

• 27-Q Room, bathroom

• 28-Q Room, bathroom

• 29-Q Room, bathroom

• 30-Q Room, bathroom

• 31-Room, 2 twins, shared bathroom

• 31A-Room, queen, shared bathroom

• 32-Room, 2 twins, shared bathroom

• 32A-Room, queen, shared bathroom