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1125 Ocean Avenue, Ocean City

For Sale: $13,500,000   |   Undercontract-cont Toshow

MLS: 564238   |   Bedrooms: 0   |   Bathrooms: 0   |   Type: COMMERCIAL/INDUSTRIAL   |   DOM: Days

Ocean City NJ's FAMOUS LANDMARK Properties Are For Sale! This very RARE "Once-In-A-Lifetime" AQUISTION OPPORTUNITY sale is for 3 properties & business consisting of 57 (various) units operating as Tahiti Inn Motel & Apartments+3 developable lots, currently operating as two parking lots, all which total approx ONE (1) ACRE of Prime Coveted BEACHBLOCK OFF-BOARDWALK OCNJ real estate. Just a few steps to beach & boardwalk, these 3 large parcels include 1125 Ocean Ave Huge 210 x 130 CORNER property consists of Motel building Apt building main lobby w public bath large heated Swimming Pool & Sundeck Area on-site laundry facility hotel on-site under cover parking garage (1 spot p rm) & operation features 57 keys (69 beds 65 baths). These include 42 Motel Rooms Suites & some w kitchenettes 12 Apts (22 beds 20 baths & all w full kitchens) 1 Owner s Apt (2 bed 1 bath) 1 Manager s Apt (1 bed 1 bath) 1 Employee Rm (Multiple beds for J-1s & small kitchenette). Sellers P&Ls represent 7-8% asking cap rate on NOI + the 3 lots. 1115 Ocean Ave PARKING LOT 1, next door to motel, is a combined double 90x130 lot, est value $4+million. 1116 Ocean Ave PARKING LOT 2 50x135 lot across the street, est value $2.5million & can build a triplex. All 3 parcels are located in Hospitality Zone, which boasts variety of impressive by-right development opportunities. A huge piece of Off Beach Boardwalk land is exceptionally rare to find on any island beach resort, especially OCNJ! Call Now!

AMENITIES

  • Heating:Forced Air   
  • Heating:Gas-Natural   
  • Heating:See Remarks   
  • Heating:Space/Wall/Floor   
  • Heater:Gas  
  • Security System  
  • Storage  
  • Three Phase Electric  
  • Cooling:Wall Units  
  • Public Sewer  

PROPERTY LOCATION / MAP
Last Database Update: 09/29/2022

 Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City.
© 2015 South Jersey Shore Regional MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional MLS. Real Estate listings held by brokerage firms other than Cesari Real Estate are marked with the Broker Reciprocity logo (a little black house) and detailed information about them includes the name of the listing brokers. Information is deemed reliable but is not guaranteed. The broker providing these listings to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which they may be interested in purchasing.
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1125 Ocean Avenue, Ocean City

For Sale: $13,500,000 / MLS: 564238

Beds: 0 /
Baths: 0 /
COMMERCIAL/INDUSTRIAL

/
DOM: Days
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