|Type: Commercial||Style: Commercial|
|City: Ocean City||Area: Central 7th-17th St|
|Sq ft: 0||Dimensions: 2.3 Acres|
- ~ 8% CAP RATE ~ 4 Hotel /Hospitality Income Producing Properties
- ~ Hospitality Re-Development Investment Opportunity ~ Profitable BEACHBLOCK, off BOARDWALK location
- ~ Assocaited with a total of 2.3 Acres of Available Sale Properties ~ Located in Ocean City's Highly Desirable & Newly Created HOSPITALITY ZONE
- ~ Centrally Located in Highest Tourist Traffic Volume ~ Decades of Repeat Clientelle Following
Pavilion Motel & Apt Units
FOUR (4) HOTEL/ HOSPITALITY
INCOME PRODUCING PROPERTIES
(All Four Properties Are Operated Altogether Under One Entity,
And Are Being Offered For Sale Altogether)
Originally Asking $8,800,000
FOUR Independent Multi-Family/Multi-Use Income Producing Properties Are Being Offered For Sale – Altogether They Consist of Approx 1 ACRE of Prime BEACHBLOCK/OFF BOARDWALK Real Estate!
This RARE “Once-In-A-Lifetime” AQUISTION OPPORTUNITY sale is for both real estate property & businesses consisting of 91 total units (various size & amenities) producing income under one consolidated hospitality P&L operation (known as Pavilion Hotel or Pavilion Motor Lodge and Apartments) & are for sale altogether at approx. 8% cap rate based off original asking price. Depending on contract terms, sale may be contingent on sale of all four properties together, or a prospective Buyer may opt to purchase two or three of the four properties; as a result, all four property locations are each independently listed & include:
1) 801 Atlantis Ave, also known as the PAVILION MOTOR LODGE & RESTAURANT. This sale is for both real estate property and business consisting of a 58 unit operating motel; onsite restaurant; reception; swimming pool & 54 onsite parking spaces.
Asking $5,400,000 REDUCED TO: $4,725,000
2) 811 Atlantic Ave, also known as the FOUNTAIN VIEW MOTEL This sale is for both real estate property and an operating motel which consists of 19 units.
REDUCED TO: $1,550,000
3) 813-819 Moorlyn Terrace, also known as the MOORLYN POOL APARTMENTS. This sale is for both real estate property and the operating apartment building consisting of eight 2-bedroom units, plus seven parking spaces. Asking $975,000
4) 825 Atlantic Ave, also known as the “PAVILION ANNEX”. This sale is for both real estate property and operating rental property consisting of 6 rental units.
REDUCED TO: $650,000
This sale includes the purchase of all existing commercial operating businesses, legal entities, good will, and all related business assets associated to the list of four hospitality income producing properties listed above.
RARE ACQUISTION OPPORTUNITY:
All properties are located in Ocean City New Jersey right ON BEACHBLOCK & OFF BOARDWALK in the Heart of the Hospitality Zone* Overlooking Ocean City NJ Beaches & Boardwalk– America’s Greatest Family Resort!!! The central location of these properties are indisputably positioned within Ocean City’s highest traffic volume for beach, boardwalk, hospitality, and tourist destination spots.
In addition, Seller is also selling TWO additional OFF-BOARDWALK PARKING LOTS consisting of 146 existing parking spaces (Click This Link To View Parking Lot Sale Listing Details Here) along with two other single family home properties strategically located right on Atlantic Ave, adjacent to the existing parking lots (Click This Link To View Single Family Home Listing). Total acquisition of all 8 properties would equal about 2.3 Acres of Prime Beachblock, Off Boardwalk property. (Click To See Link To Listing Details Here ).
Consequently, driven by its most desirable size and location, your very rare “once in a century” acquisition may prove to be an incredible development investment opportunity for approved uses (see below)
For acquisition of all 8 properties:
Click To See Link To Listing Details Here
*PRINCIPAL APPROVED USES ON ANY LOT IN THE HOSPITALITY ZONE INCLUDES SOME OF THE FOLLOWING:
HOSPITALITY DEVELOPMENT: Hotels**; Motels**; Satellite Hotel**; Rooming & Guest Houses; Best & Breakfast Inns; Restaurants; Retail Sales; Retail Services; Commercial Parking Lots; Essential Services; Rental Management Services (**Kitchen facilities shall be permitted in all hotel, motel and satellite motel units.)
RESIDENTIAL DEVELOPMENT: Multi-Family (5 or more dwelling units) buildings; Quadruplex; TriPlex; One Family & Two Family Dwellings (existing lots, subject to bulk requirements; development on lots subsequent to ordinance require a use variance). Mixed Use Buildings.
This Exclusive Agency Listing is also posted on LoopNet. Click below to view listings:
~ Hotel Properties Only:
Click Here For LoopNet Listing- 4 Hotel properties Only
Asking $8,800,000: NOW $7,900,000
~ Two Boardwalk Parking Lots, 146 Parking Spaces:
Located at 748 Boardwalk Rear & 821 E 8th St
Click Here For LoopNet Listing- 2 Existing Boardwalk Parking Lots
Asking $4,700,000: NOW $3,975,000
~ Two Single Family Attached Homes w/2 Bonus Apartments
(Multi-Family on Extra Large Lot)
Adjacent to Seller’s Parking Lots For Sale
Click Here For LoopNet Listings: 725 Atlantic Ave ($450K) +
727 Atlantic Ave ($550K)
Together for Both Properties:
Asking $1,100,000 NOW $1,000,000
~ Total Acquisition:
Click Here For LoopNet Listing- All 8 Properties
Asking $14,600,00: NOW $12,875,000
See aerial and site plan photos — Call Us Directly at (609) 412-5547 for more information and to schedule a site visit
Call Us: (609) 412-5547
Beach Block, Boardwalk, Corner
Request More Information
Ocean City Real Estate Group, Keller Williams Realty Jersey Shore, Robert Doliszny & Kristina Doliszny