Property Description:

SOLD
(Jan 2020)

The Iconic Landmark

PAVILION HOTEL, POOL & RESTAURANT

This offering is for both real estate property & its popular hotel operating business consisting of 57 units (approx $105-114K per key); onsite restaurant; reception; heated swimming pool, outdoor patios; & onsite parking in back of property. Hotel generates an average of over $900,000 in seasonal revenues and profit at a reasonable cap rate.

Located in center heart of Ocean City NJ – America’s Greatest Family Resort, this property sits on HUGE & very rare 300 x 100 corner lot located right on the BEACH BLOCK & OFF-BOARDWALK!! The desirable central location of this property is indisputably positioned within Ocean City’s highest traffic volume for beach, boardwalk, and all its hospitality & tourist destination spots.

Please note that this hotel is associated with an APPROVED DEVELOPMENT PROJECT and also a part of a larger operational hotel/apartment complex producing income under one consolidated hospitality P&L operation (commonly known as “Pavilion Motor Lodge, Pool and Restaurant”, or “Pavilion Hotel & Apartments”). This complex has been in operation for almost 70 yrs & has a coveted & unbelievable repeat (multi-generational) guest/customer following. Existing complex consists of THREE seasonal-only properties: two hotels and one apartment building, altogether generating approx $1.3 million in gross seasonal revenues and profit at a reasonable cap rate.

Signed NDA/Confidentiality Agreement from qualified buyers required.

If you have serious interest & require more information, please call Kristina Doliszny directly now at (609) 412-5547

Listing Agent:

Kristina Doliszny, Ocean City Real Estate Group
Keller Williams Realty – Jersey Shore
1 Atlantic Ave,Ocean City NJ 08226
(609)412-5547-Direct/Cell

Call Us Directly at (609) 412-5547 for more information and to schedule a site visit