Listing Courtesy of American Heritage Realty
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PRIME INVESTMENT OPPORTUNITY -- SHOVEL READY-- 114 ROOMS-- HOME 2 SUITES by HILTON--Expected to Return NEARLY $19M on a 7 year exit plan!INCLUDED IN PRICE: Free and Clear Land Ownership Transfer; All Zoning and Planning Boards and CAFRA Approvals; Approved Preliminary Architectural Plans and Assistance With Final Ready to Build Plans and Permitting; Executed Hilton Franchise Agreement Transfer; Site Work and Preparation Completed, Ready for Foundation; Introduction to Modular Unit Builder for floors 2 through 5; And, Full Cooperation and Assistance from Seller throughout the transition of ownership and construction period.PROJECT DESCRIPTION: A fully-approved, to-be-built five-story, 114-room extended-stay lodging facility situated on a 2.61 acre site in Somers Point, Ocean County, New Jersey. Amenities will include a breakfast dining area, an indoor swimming pool, a lobby work station, a market pantry, a guest laundry room, and a vending area. Paved parking spaces for 125 automobiles will surround the hotel. The gross building area is 69,029 square feet. The site is cleared and ready for construction. The first floor will be standard construction while floors 2 through 5 will be modular construction.The construction period is estimated at Ten to Twelve Months.PROPERTY TAX MAP ID: Block 1715, Lots 1 and 8; and, Block 1815, Lots 3 and 8ZONING DESIGNATION: HC-2: Highway Commercial

Address: 19 MACARTHUR BLVD
State: NJ
City: Somers Point
County: ATLANTIC
Zip Code: 08244
MLS#: NJAC102972
MLS Area: Somers Point City (20121)
Taxes: $28,152

Price History

Date Price Event Change MLS#:
1/10/2019 $3,555,000 List Price NJAC102972

Nearby Schools

New York Avenue School(Preschool-Preschool)
St Joseph Regional School(K-8)
St. Joseph Regional School(Preschool-8)5
Jordan Rd Elementary School(K-8)
Jordan RD Elementary School(K-8)
Dawes Ave Elementary School(Preschool-6)
Dawes Ave Elementary School(Pk-6)
St Joseph Regional School(K-8)
St. Joseph Regional School(Preschool-8)5
Jordan Rd Elementary School(K-8)
Jordan RD Elementary School(K-8)
Dawes Ave Elementary School(Preschool-6)
Dawes Ave Elementary School(Pk-6)
Charter~Tech High School(9-12)3
Charter~Technical High School(9-12)

Interior Details

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Exterior Details

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  • Pool:No
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  • Sewer:No Septic System

Community Details

Rental Information

  • Rental Income:$0
  • Rental Number:0

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Property Information Last Updated: 9/25/2018 12:10:40 PM
Listing Courtesy of American Heritage Realty


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