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801 Atlantic Avenue, Ocean City

For Sale: $16,000,000   |   Active

MLS: 566971   |   Bedrooms: 0   |   Bathrooms: 0   |   Type: 51 - 100 Units   |   Lot: 300x100+100x90   |   DOM: Days

This is a SUPER RARE & absolutely incredible WEALTH CREATION OPPORTUNITY for your hard asset portfolio that you must explore in detail! 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 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 consists of 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 (adjacent value added motel next door w 19 keys) 819 Moorlyn Terrace, Ocean City NJ 08226, commonly known as the Beach House Apartment Building (Brand newly renovated apartment building w 8 keys, all three (3) bedroom one (1) bath apartment units- all which can also be easily condoed). Apartments have their own designated parking lot in back of building. 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. 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! We invite you to explore this unique WEALTH CREATION OPPORTUNITY in further detail. 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. This offering is listed 3 ways $10 million for hotels (801-811 Atlantic Ave) only $6 million for apartment building (819 Moorlyn Terrace) only and $16 million for all three parcels altogether comprising 1 ACRE OF BEACH BLOCK OFF-BOARDWALK property (801 Atlantic Ave). Contact listing agent for Confidentiality NDA, which is available to financially qualified buyers - Don't hesitate another minute - you must act on this today!

AMENITIES

  • Curbs   
  • Handicap Access   
  • In Ground Pool   
  • Ocean View   
  • Patio   
  • Sidewalks   
  • Laundry/Utility Rm   
  • Workshop   
  • Heating:See Remarks   
  • Heater:Gas  
  • Cooling:Wall Units  
  • Cooling:Window Units  
  • Public Sewer  
  • No  

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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801 Atlantic Avenue, Ocean City

For Sale: $16,000,000 / MLS: 566971

Beds: 0 /
Baths: 0 /
51 - 100 Units

Lot: 300x100+100x90 /
DOM: Days
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