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Commercial Off Market
1125 Ocean Ave
Ocean City, New Jersey 08226
Cape May CountyCommunity:
$13,500,000
0 br, 0.0 bath
0 sq. ft.
0.000 acres
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 onNOI + 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!
Interior:
- Bedrooms: 0
- Baths: 0.0
- Sq Ft: 0
- Year Built: 0
- Utilities:
- Fireplaces:
- Stories:
- Heat/AC: Forced Air
- Garage: Paved or Surfaced
Exterior:
- Lot Size: 0.000 acre
- Lot Dimensions:
- View Types:
- Yard:
- Siding: Block,Stone,Stucco
- Roof: Unknown
- Property Taxes: $55,860
- Swimming Pool: Yes
- MLS #: 564238
Contact Information:
Ad Number: 2851394
Viewed 125 times.
Updated: Jun 20, 2022
This property is a Commercial located at 1125 Ocean Ave, Ocean City, New Jersey 08226, and is currently Off Market at $13,500,000. This Commercial has 0 bedrooms, 0.0 baths, 0 sq ft.