1125 Ocean Avenue
1125 Ocean Avenue Ocean City, New Jersey 08226 United States

$13,500,000
 Get directions
 
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,...

Keller Williams Realty Jersey Shore-Ocean City

Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City
$13,500,000
Change Currency
Commercial
Property type
564238
Web Id
564238
MLS ID
Ocean City
School District
11
days ago

About 1125 Ocean Avenue

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!

Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City

Amenities

  • Hardwood Floors
  • Security System
  • Storage
  • Vinyl Flooring

features

cooling
Gas Heating
1125 Ocean Avenue, Ocean City, New Jersey 08226 United States is a Commercial for Sale for $13,500,000. Was built in , has on a lot of and it's composed from Bedrooms, full baths
Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City

Keller Williams Realty Jersey Shore-Ocean City

Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City
Contact Agent