For Sale 1624 ATLANTIC, Atlantic City, NJ, 08401

7,433 sq ft building located on a busy corner location of Atlantic Avenue and Martin Luther King Blvd !!! Potential is endless for a business location with such high exposure . Building has two additional floors which need complete rehab to turn back into apartments or another use that the city would approve . Currently is a Thrift store .This building is a piece of the old time Atlantic City , was once the Paddock Club . Being sold AS IS .

Plenary Retail Consumption Liquor License Available for Atlantic City. Sellers operated a successful business for many years and sold the real estate. License is up to date. Call to discuss. **** PLENARY RETAIL CONSUMPTION LICENSE (“33”). This license authorizes the sale of alcoholic beverages for consumption on the licensed premises by the glass or other open receptacle and also allows the sale of alcoholic beverages in original containers for consumption off the licensed premises.

INVESTOR ALERT- Turn Key Cash Flowing Commercial Mixed Use property ! 4,602.00 approx sq.ft mix use building with a store front and 2 apartments . All units separate gas and electric . First Floor is a Commercial storefront with private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms. Apartment 2 is renovated/remodeled Two bedroom with Den/extra sleeping area is located in the heart of it all !!! Den is located on the lower level of this two story unit . Plus very large private deck off the kitchen . New Kitchen ,Flooring ,lighting, doors plus all new trim. Freshly painted Close to the Atlantic City Hospital ,Casinos , beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250.00 cap rate of at 10% $502,500. 9% $558,333. 8% $628,125.Rental Income rent : Storefront $2,500.00 or $30,000.00 per year , Second floor $1,650.00 or $19,800.00 per year . Third floor $1,650.00 or $19,800 per year . annual income of $69,600.00 .Water & Sewer $1,100.00 per year.