$7,500,000
$9,500,000
21.1%For more information regarding the value of a property, please contact us for a free consultation.
1 Acres Lot
SOLD DATE : 01/21/2020
Key Details
Sold Price $7,500,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 528628
Sold Date 01/21/20
Style Commercial,Comm. w/Apartments,Hotel,Motel,Other (See Remarks)
Annual Tax Amount $70,916
Tax Year 2018
Lot Size 1.000 Acres
Property Description
ATTENTION ALL HOTEL OWNERS, DEVELOPERS & INVESTORS! Here is your rare "Once In a Lifetime Chance" to acquire ONE ACRE of Prime BEACHBLOCK/OFF BOARDWALK Landmark real estate and develop/build your own legacy in the heart of Ocean City' s new hospitality zone overlooking ocean/beach & boardwalk! This luxury development project, together w/its lucrative hotel use approval, is virtually "SHOVEL READY!" and is now being offered for sale (or joint venture opportunity). The central location of these sale properties are indisputably positioned within Ocean City's highest traffic volume for beach/boardwalk/hospitality/tourist destination spots. Seller is willing to sell real property AS IS, together w/all project development approvals granted year to date, OR...engage a potential investor/ JV Partner in constructing the project. Sale includes: One generous CONTINUOUS ACRE of very rare corner property off Beach & Boardwalk; 3 adjacent Commercial AS IS income-producing producing properties (2 hotels + 1 apt bldg); PRELIMINARY SITE PLAN APPROVAL to build 35 (3bed/3bath) lock out units w/desirable hotel-use approval; and CAFRA approval. Due to its history, size, & unbelievable LOCATION, this exquisite property is already considered a landmark Jersey Shore destination; & it's destined to instantly become the #1 place to own, vacation, escape to relax & play in Ocean City NJ. Financially qualified buyers only please- NDA required.
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Location Details Beach Block,Boardwalk,Business District,Commercial Park,Corner,Island,Shopping Center,See Remarks,Boardwalk Area
Interior
Interior Features Elevator Pass, Fire Sprinkler System, Living Space Available, Restroom, Security System, Smoke/Fire Alarm, Storage
Heating Baseboard, Forced Air, Gas-Natural, Hot Water, Multi-Zoned, See Remarks
Flooring Carpet-Partial, Carpet-Wall to Wall, Concrete, Hardwood, Linoleum/Vinyl, Other (See Remarks), Slab
Exterior
Exterior Feature Swimming Pool, Sign, Fence, Security Light/System, See Remarks
Parking Features 11 or More Spaces, Assigned, One per Unit Motel/Hotel, Other (See Remarks), Paved
Building
Story 3
Sewer Public Sewer
Water Public
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