AGENT LISTINGS
Carol Cawley

Carol Cawley 609-760-3809 609-391-1330x416

1330 Bay Avenue, Ocean City

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For Sale 724 Ocean, Ocean City, NJ, 08226

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724 Ocean, Ocean City, NJ, 08226

$5,000,000

Carol Cawley
  • Buyer Agent Compensation: N/A
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RARE ACQUISITION OPPORTUNITY - HEART OF OCEAN CITY’S HOSPITALITY DISTRICT! Securing a hotel operation in Ocean City NJ is like winning a lottery ticket – it rarely happens! First and due to super low hotel-room supply and incredibly high demand, there are only a handful of coveted hospitality assets available in Ocean City, which happens to continuously fuel investors upside. Second, it’s only once every few decades that a turn-key hotel hits the market on this high disposable income beach island resort. This brand newly remodeled hotel is modernly appointed with today’s fashion forward designs, high ceilings, wide hallways, generous common area spaces and a coveted wrap-around porch like no other! It boasts 29 fabulous hotel suites (including three 2-bedroom suites); a bonus income hotel section that includes 10additional rooms which can house up to 29 staff and/or island employees requiring seasonal accommodation; 25 parking spaces in an adjacent parking lot; and an in-ground swimming pool at the back of the hotel. Ideally situated just a short 1 ½ block from Ocean City’s white soft sandy beaches and world-famous boardwalk, its superb “walk-to-everything” location makes it the perfect spot for vacationers. Property wascompletely renovated, yet intentionally retained some of its architectural exterior and interior details to preserve the old school Ocean City allureand still left room for a new owner to incorporate their own touches making this unique hospitality property a truly “one-of-a kind” gem. The hotel opened its doors in late Summer 2024, enjoyed an impressive opening start-up season (whose late seasonal start income generates approx.7% cap rate) with nothing but upside and opportunity tied to its ongoing and future operation. Winter Rentals could quickly add an instant $100Kto the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. This is a perfect asset for any existing short-term rental investor or hotelier looking to scale up and add to their portfolio. Pre-Qual & NDA are required for financially qualified buyers only. For more property details, obtain an NDA to review financials and schedule a private showing, please call us directly now.

Listing courtesy of: eXp Realty - Ocean City O382L
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 12396.00
SQFT
OutsideFeaturesIn Ground Pool, Porch, Sidewalks
OtherRoomsLaundry/Utility Rm, Living Room, Storage Attic, Workshop
HeatingSpace/Wall/Floor
HotWaterGas
SewerPublic Sewer
Bedrooms 0
Half Bath 0
# of Stories
Lot Dimensions
# Units 21 - 50 Units
Tax Year 2024
Area Ocean City/Central
ParkingGarageNone
BasementSlab
CoolingCeiling Fan(s), Window Units
WaterPublic
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Nearby Listings

Located directly on the beachfront in Ocean City’s Southend, 4919 Central Avenue presents a rare opportunity: ownership of the ground along the sand, with city-approved plans and architectural flexibility already in place. Set on a 37x100 lot, the existing duplex features 4 bedrooms and 2 full baths per unit, elevated above an oversized garage that provides generous off-street parking for both residences. Included with the sale are fully approved plans for a luxury single-family residence offering over 4,000 sq ft of living space across 2½ stories. The proposed design includes 5 bedrooms, 5.5 baths, an elevator, expansive decks with sweeping ocean views, and thoughtfully designed bonus spaces such as a sitting area and private study — flexible enough to accommodate up to 7 total bedrooms. The top-level primary suite is generously sized and positioned to capture breathtaking views from its private deck. Importantly, the approved plans raise the home and front decks by over 4 feet, enhancing sightlines and providing improved views of the ocean, beach, and dunes from nearly every room. Whether preserved as an upgraded duplex or transformed into a new custom home, 4919 Central offers buyers a unique position: direct beachfront access, grandfathered oversized lot coverage, and completed approvals that save time and create options. Opportunities like this are increasingly rare — and represent long-term value in one of the most desirable coastal markets on the East Coast.

Property 2

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Set along Central Avenue just two blocks from Ocean City’s beach and boardwalk, this top-floor three-bedroom, two-bath condominium offers a worry-free shore retreat in the heart of the action. Built around 1997 and thoughtfully updated, it welcomes you with a light, open-concept layout, high ceilings and a stylish beach-themed décor. Nearly all furnishings convey with the sale, so you can arrive with an overnight bag and start enjoying your second home right away. Beyond the beach, everything you need is within easy reach. Stroll down Central Avenue to a variety of local shops, bakeries and boutiques, or head to Asbury Avenue for more shopping, coffeehouses, pizzerias and casual restaurants. The iconic Ocean City Boardwalk—with its amusement rides, mini-golf, arcades and bike rentals—offers entertainment options for all ages, and seasonal farmers markets, concerts and festivals keep the calendar full throughout the year. The condo’s major systems are in great shape: the roof was replaced about three years ago, the gas water heater was installed roughly five years ago, and the natural-gas furnace and central air-conditioning system are only about six years old. With these big-ticket items taken care of, you can spend more time relaxing and less time worrying about maintenance. Off-street parking for three vehicles makes living here stress-free, even during busy summer months. Priced aggressively at $900,000 for such a desirable location, this turnkey condo is subject to the seller finding suitable replacement housing and completing a 1031 exchange. Opportunities like this don’t last—schedule your private showing today and make this shore retreat yours before it’s gone!

Property 2

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