Property Description:

~ RARE ACQUISTION OPPORTUNITY! ~

2.3 ACRES

of Prime BEACHBLOCK / OFF BOARDWALK
Landmark Resort Development Overlooking
Ocean City NJ Beach & Boardwalk
— America’s Greatest Family Resort!–

SOLD IN 2017

 CLICK HERE TO WATCH VIDEO

INFINITE HOSPITALITY / COMMERCIAL /MIXED USE RESIDENTIAL
FUTURE DEVELOPMENT POSSIBILITIES!!!

Design, Create, Develop & Build Your Own Legacy
In The Heart of Ocean City’ s New Hospitality Zone*

All properties are located OFF BOARDWALK & ON BEACHBLOCK in the Heart of the Hospitality Zone.*  The central location of these properties are indisputably positioned within Ocean City’s highest traffic volume for beach, boardwalk, hospitality, and tourist destination spots. 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). Subject Properties and their location was endorsed by the Rutger’s Hospitality Redevelopment Plan which lead to the creation of Ocean City’s new Hospitality Zone.

Property Acquisition Opportunity Includes All Of The Following:

1) FOUR EXISTING INCOME PRODUCING PROPERTIES WITH ONSITE PARKING
(8% Cap Rate) Asking $8,800,000

(Click This Link For Hotel Listing Details Here )

2) TWO EXISTING OFF BOARDWALK / BEACHBLOCK PARKING LOTS
(146 Parking Spaces) Asking $4,700,000

(Click This Link To View Parking Lot Sale Listing Details Here)

3) TWO 5-Bedroom Single Family Attached Homes w/two ground floor bonus apartments on Large 150 x 50 Lot (STRATEGICALLY LOCATED on Atlantic Ave & adjacent to existing parking lots) Asking $1,100,000

No Longer Available- SOLD in April 2016

4) ENDORSED BY RUTGER’S HOSPITALITY
REDEVELOPMENT PLAN

*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:

~ 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 $4,275,000

~ Hotel Properties Only:
Click Here For LoopNet Listing- 4 Hotel properties Only
Asking $8,800,000: NOW $7,000,000

~ Two Single Family Attached Homes w/2 Bonus Apartments
(Multi-Family on Extra Large approx. 60 x 150 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

725-727 Atlantic Ave- SOLD April 2016

~ Total Acquisition:
Click Here For LoopNet Listing- All 8 Properties
Asking $14,600,00: NOW $11,275,000

See aerial and site plan photos — Call Us Directly at (609) 412-5547 for more information and to schedule yourself a site visit ASAP!