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For Sale 617 8th St, Ocean City, NJ, 08226

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617 8th St, Ocean City, NJ, 08226

$3,900,000

Robert Bechtel
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9%+ CAP RATE!! INVESTOR\'S INCOME AQUISTION OPPORTUNITY WITH TONS OF UPSIDE! The Blue Water Inn Hotel is a 39-Unit Mixed Use commercial investment property, with parking! This income producing gem is centrally located on a HIGH TRAFFIC CORNER of 8th & Ocean Ave in the very HEART OF THE HOTEL/ HOSPITALITY DISTRICT & situated on a whopping 135\' x 93.05 lot just a couple blocks from Ocean City\'s white sand beaches and bustling World- Famous Boardwalk. The property features a total of 39 units which consists of: 32 hotel rooms (with 32 baths); 4 renovated apartments (2-1BR/1BA, 1-2BR/1BA, 1-3BR/1BA & 1-Manager\'s efficiency apartment w/1BA); and 3 leased commercial stores on the street level of the building. The three commercial storefronts currently include a full-service restaurant and two additional food & beverage service retail stores. In addition, the building includes an additional 1/2 bath in Guest Check-In Lobby; 3 courtesy dayrooms with showers; laundry facility; and a total of 28 parking spaces in the parking lot adjacent to & in back of the hotel. Property recently started to undergo upgrades & renovations inclusive of the apartments; new front porch; and windows are relatively new. For the experienced developer/investor, this incredible acquisition opportunity comes with tremendous upside potential associated with property stabilization and income growth tied to increased seasonal rents to become in line with market rates, plus expanding business to include Winter Rental which could quickly add an instant $100K to the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. Pre-Qual & NDA required for financially qualified buyers only. Call Now!

Listing courtesy of: Keller Williams Realty Jersey Shore-Ocean City
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional Multiple Listing Service. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Information is deemed to be accurate but not guaranteed. Copyright South Jersey Shore Regional Multiple Listing Service. All rights reserved.
Total Rooms
Full Bath 0
# of Stories
Year Build
Lot Size
Tax 12348.00
SQFT
ExteriorVinyl
ParkingGarage11 or More Spaces, Assigned
BasementCrawl Space
WaterPublic
Bedrooms 0
Half Bath 0
# of Stories
Lot Dimensions
# Units
Tax Year 2023
Area Ocean City/Central
OutsideFeaturesSecurity Light/System, See Remarks, Sign
InteriorFeaturesRestroom, Smoke/Fire Alarm, Storage
HotWaterGas
SewerPublic Sewer
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Nearby Listings

Incredible FIVE (5) UNIT Multifamily/Mixed-Use Investment Opportunity consisting of four brand newly renovated 2-Bed/2-Bath residential units, plus a commercial ground floor unit with tons of bonus storage. MODERN, NEW & CHIC - fabulously located just one short block from BEACH & BOARDWALK, plus pool privileges included! Each of these four beach vacation units (Units B, C, D & E) boasts brand-new white kitchen cabinetry, SS appliances, beautifully tiled baths, washer/dryer, hardwood floors throughout and large back deck - SIMPLY PERFECT BEACH CONDOS - and all are ready to go for Summer of 2024! Building also includes an existing generous sized commercial unit (Unit A). 5-Unit building already has NJ condo approval; units are also each listed for sale separately (Units B&C $599K each; Top Floor Units D&E $619K each; & Commercial Unit A $550K). Opt to buy all 4 units for $2.43M for your family or as investment rental income, or buy the entire 5-unit building for $2.925M. Approved architectural plans, survey & draft master deed available upon request. As a bonus to the sale of residential units, seller will offer owner a contract for pool privileges for all owners, guests and prospective tenants directly across the street at the Forum Hotel and assigned parking for residential unit owners. Property offers SUPREME RENTAL INCOME POTENTIAL as its ideally located in the heart of Ocean City\'s cash cow hospitality zone, one block from the Ocean City Boardwalk and its white sandy beaches, and a few short blocks to Ocean City\'s bustling downtown shopping district. Fantastic multiple unit rental income investment opportunities in an incredible Jersey Shore vacation spot like this one doesn\'t come around often, so ACT FAST! So come join us at an OPEN HOUSE this weekend! Saturday 03/9 & Sunday 03/10 - 10am to 4pm. Come grab a snack and get a first look at this newly renovated coastal getaways!

Property 2

715 8th St, Units A,B,C,D&E, Ocean City

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  • 0.0

  • $2925000

Ocean City RESTAURANT USE/FOOD SERVICE Commercial Condo FOR SALE – Available Immediately!! Ocean City’s Famous former LANDMARK “OC SURF CAFE” is officially up for grabs! -Fabulous RESTAURANT Location Incredible commercial space in HUGE TRAFFIC VOLUME location, right in the center heart of the hotel & hospitality zone! Everyone knows your success depends upon LOCATION- LOCATION- LOCATION! Well, it doesn’t get better than this! Ideally located. this spot is PERFECT for any restaurant, start-up new food service business, or satellite location for an expanding one. Surrounded by multiple hotels/B&Bs; lots of restaurants; busy bike rental center; City’s multiple public Boardwalk parking lots; & just steps to the beach/boardwalk, this space is ideal for RESTAURANT OWNERS of all food cuisine types, including seafood; breakfast café/ luncheonettes; Specialty Donut/Pastry & Coffee Shops; franchises; or large take-out location. Former tenant operated well known/ famous landmark restaurant known as the “OC Surf Cafe” before retiring. Seller completely renovating the 4 residential units in the building including the exterior façade. 5-Unit building already has NJ condo approval. Master deed available upon request. Property offers SUPREME INCOME POTENTIAL as its ideally located in the heart of Ocean City’s cash cow hospitality zone, one block from the Ocean City Boardwalk and its white sandy beaches, and a few short blocks to Ocean City’s bustling downtown shopping district. Fantastic business operation opportunities in an incredible Jersey Shore vacation spot like this one doesn’t come around often, so ACT FAST! Time is of the essence on this one…so CALL US RIGHT NOW!

Property 2

715 8th St, Unit A, Ocean City

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  • 0.0

  • $550000