|Type: Commercial||Style: Commercial|
|City: Ocean City||Area: BeachBlock Location|
|Sq ft: 1 Acres||Dimensions: 0|
Exclusive Ocean City
10% CAP RATE
Hospitality Beach Block Acquisition
This is a SUPER RARE and absolutely incredible WEALTH CREATION OPPORTUNITY for your hard asset portfolio that you must explore!
Fabulous multi-facet acquisition features: TWO income producing hotels @ 10% CAP RATE w/significant value added upside (easily increase cash flows together with asset values); several expansion/renovation or condo conversion opportunities; fully renovated income producing apartment building @ 8-9% CAP RATE w/upside; plus the inclusion of APPROVED PLANS for future redevelopment and/or condo conversion opportunity.
Boasting a whopping ONE (1) ACRE OF VERY RARE and highly coveted PRIME BEACH BLOCK / OFF- BOARDWALK real estate, these incredible income producing properties are ideally situated on the upscale island resort of Ocean City NJ (“America’s 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 85-KEY multiple building commercial /multi-family property is being listed and offered to the market 3 different ways,
and it consists of:
1. TWO HOTELS ONLY: $10 million for two hotels (801-811 Atlantic Ave) only, (77 keys) offered at an impressive 10% CAP RATE
801 Atlantic Ave, Ocean City NJ 08226, commonly known as the Pavilion Motel (consist of 58 keys (57 Rooms + a manager’s apt); swimming pool, parking lot, main reception area & onsite small leased restaurant)
811 Atlantic Ave, Ocean City NJ 08226, commonly known as the Fountain View Motel, (This is an adjacent value added motel next door that consists of 19 keys)
Seller’s existing commercial operating businesses assets, good will, and affiliated business assets, all which would be included as a part and parcel to the sale of any or all of the Subject Properties and/or their operating businesses.
2. APARTMENTS ONLY: $6 million for newly renovated 8-Unit apartment building only, offered at 8-9% CAP RATE
819 Moorlyn Terrace, Ocean City NJ 08226, commonly known as the Beach House Apartment Building (Brand newly renovated apartment building that consists of 8 keys, all three (3) bedroom one (1) bath apartment units, that can be condoed. Building has its own designated parking lot in the back of building.)
The sellers recently fully renovated the apartment building and have almost doubled their revenues from 2021 to 2022. (Sellers are also open to selling the hotels only and keeping the apartment building, whose 8 units can be condoed and independently sold off at any time.)
3. TOTAL PACKAGE: $16 million for all three parcels altogether comprising 1 ACRE OF BEACH BLOCK / OFF-BOARDWALK property (801 Atlantic Ave)
Development Approvals: Sale of all three parcels to same buyer would automatically include Seller’s existing Preliminary Site Plan and NJ CAFRA permit approvals for development of 35 (three bedroom-three bathroom) lock out units with hotel and mixed use. Or, you may opt to later redesign the approved project, as per your own specification, subject to the by rights of hospitality zone.
MEDIA, News Article Featured Sale Offering published in
Philadelphia Business Journal
Click Here for article contents:
Click Here to check out our detailed
commercial listing on LoopNet:
Full Package Offering: 801 Atlantic Ave:
Pavilion Hotel, Apartments & Redevelopment
TWO Hotels Only: 801-811 Atlantic Ave:
Two Hotels with 77 Keys at 10% CAP RATE
Apartment Building Only: 819 Moorlyn Terr
819 Moorlyn Terrace: Renovated 8-Unit Apartment Building @ 8-9% CAP RATE
Please see the attached photos of all aspects of the offering (Aerial shots [(1) total Acre of Beach Block property]; all 4 building-85 keys; main office; pool & patio; restaurant; hotel rooms; new apartments; parking) + a tax map & rendition of proposed and approved future development.
— Here is a link to the Pavilion website:
We invite you to explore this very unique
WEALTH CREATION OPPORTUNITY
in further detail. 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!
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, optional condo conversion opportunity, plus approvals pertaining to prospective future development opportunity.
If you are an financially qualified and experienced buyer in hospitality and/or commercial development and who has genuine interest in this incredible opportunity, please contact us directly. We are excited to work with our buyers via signed NDA in order to get a copy of the sellers’ financials, surveys, and property documents for review. This is your chance to secure an immediate acquisition of income producing assets at an IMPRESSIVE & HIGHLY COMPETITIVE CAP RATE, value added upside, plus docs pertaining to an approved prospective future development opportunity.
Don’t hesitate or put this off until tomorrow and let this pass you by — please call us directly at (609) 412-5547 to discuss in more detail right now!
(Proof of Funds/ Financial Pre-Qual is required).
Call Us: (609) 412-5547
Request More Information
Kristina Doliszny, Robert Doliszny, Ocean City Real Estate Group, Keller Williams Realty Jersey Shore