FOUR independent Multi-Family/Multi-Use Income Producing Properties being offered for sale altogether-consists of almost 1 ACRE of prime BEACHBLOCK/OFF BOARDWALK Real Estate! This RARE "Once-In-A-Lifetime" AQUISTION OPPORTUNITY sale is for both real estate property & businesses consisting of 91 total units (various size & amenities) producing income under one consolidated hospitality P&L operation (known as Pavilion Hotel) & altogether are for sale at approx 7-8% cap rate based off original asking price. All four property locations are each independently listed & include: 810 Atlantic Ave; 811 Atlantic Ave; 825 Atlantic Ave; and 813 Morrlyn Terrace. Depending on contract terms, sale may be contingent on sale of all four properties. Properties are located ON BEACHBLOCK & OFF BOARDWALK in the Heart of the Hospitality Zone - Overlooking Ocean City NJ Beaches & Boardwalk– America’s Greatest Family Resort!!! The central location of these properties are indisputably positioned within Ocean City’s highest traffic volume for beach, boardwalk, hospitality, and tourist destination spots. In addition, the seller is also selling two additional Boardwalk parking lots consisting of 146 existing parking spaces (listed separately: 748 Boardwalk Rear+821 E 8th St) along w/two other single family homes strategically located at 725-727 Atlantic Ave, adjacent to existing parking lots. Total acquisition of all 8 properties would equal about 2.3 Acres of Prime BEACHBLOCK/Off Boardwalk property.
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Listing courtesy of: KELLER WILLIAMS REALTY JERSEY SHORE oc
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