For Sale 7 Texas, Atlantic City, NJ, 08401

This exceptional commercial building, formerly a hotel with 48 rooms, offers immense potential for redevelopment. Building plans have already been approved for an additional 4th floor, which will house 32 apartments and a luxurious penthouse, making this an ideal opportunity for investors. The property has been completely gutted, providing a blank canvas for future development. Located in the heart of Atlantic City, just next to the Tropicana Casino and across the street from the beach, this prime location is further enhanced by its proximity to AC\'s first authentic Biergarten. With an income potential of over $500,000 per year, this is a rare chance to capitalize on a strategic location in one of the city\'s most vibrant areas.

RARE OPPORTUNITY: TWO LOTS FOR THE PRICE OF ONE! Perfectly positioned in an unbeatable location zoned MUA (Mixed Used Recreation District). Just a short walk to Tanger Outlets, Bass Pro Shops, the boardwalk, beach, casinos and endless dining and shopping options. Per Land Use Officer, (NJ CRDA) a duplex can be placed on the whole parcel, not on each lot as there is not enough depth as required by City and the density will supersede the requirements. Variance will be needed to build a duplex. It can also be 2 single families with a party wall but also with prior approvals. (Buyer responsible for all required certifications, permits, due diligence and approvals).

Buyers are solely responsible for all due diligence and certifications with the City of Atlantic City. This includes: confirming permitted RM-1 uses for this specific lot size, verifying all building requirements and setbacks, investigating utility connections, and securing all necessary permits and approvals for their intended project. This is an excellent opportunity for a buyer prepared to conduct thorough research and adhere to all city regulations to develop a multi-family property.