748 BOARDWALK Rear, Ocean City, NJ 08226
Listing Presented By
KELLER WILLIAMS REALTY JERSEY SHORE oc
Commercial/Industrial - Ocean City, NJ
TWO existing off BOARDWALK PARKING LOTS are being offered as a combined sale & consists of 146 existing parking spaces with an approx total of 44,026 Sq Ft* . Acquisition offers incredible and impressive cash income potential! Lots include: 1) 748 Boardwalk Rear (Parking Lot), Approx total sq ft of parking is 36,525 sq ft*; and 2) 821 E 8th Street (Parking Lot), Approx total sq ft of parking is 7,501 sq f*t. All 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, these two boardwalk parking lots can be purchased along with two other single family home properties on 60 x 150 lot strategically located at 725-727 Atlantic Ave, adjacent to the existing parking lots. (*Total sq footage may increase to approx. 54,000 sq ft if buyer opts to also purchase the two existing single home properties.) Sellers also have four Hotel/Multi-Family/Hospitality income producing properties being offered for sale at an impressive 8% cap rate, mainly operating at 801 Atlantic Ave. aka as "Pavilion Hotel". Total acquisition of all 8 properties would equal about 2.3 ACRES of BEACHBLOCK/ Off BOARDWALK prime real estate, which can prove to be an outstanding future development opportunity. Property is located in the HOSPITALITY ZONE which allows for numerous commercial, mix use residential development options.
Last Updated: May 8, 2016
Posted: February 8, 2016