$4,250,000
$4,500,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
1 Acres Lot
SOLD DATE : 11/22/2021
Key Details
Sold Price $4,250,000
Property Type Commercial
Sub Type Land for Commercial Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NJCM104478
Sold Date 11/22/21
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $13,368
Tax Year 2020
Lot Size 1.000 Acres
Acres 1.0
Property Description
Rare opportunity to purchase 1.0 acre of land on the beach block. Developers/Investors this is your chance to build a new hotel and/or condos on the beach block in Ocean City, NJ. When have you ever seen a full acre for sale in the Hospitality Zone. Central Boardwalk Parking is located behind the Promenade Food Court adjacent to the boardwalk. Currently used as a parking lot with estimated 140 parking spots, this property is located in the "Hospitality Zone" in OCNJ so the possibilities are limitless. Close to the Music Pier, shopping, restaurants, amusement rides, and much more. Keep it as a parking lot and continue to generate income with little expenses or overhead or develop the property. This is all about LOCATION! See attached survey and allowable uses from the city. Also, this property has 2 tax parcels,748 Boardwalk & 821 E 8th St the List price includes both tax parcels
Location
State NJ
County Cape May
Area Ocean City City (20508)
Zoning HOSPITALITY ZONE
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Garage Spaces 142.0
Utilities Available Electric Available
Waterfront N
Water Access N
View Ocean
Street Surface Black Top
Accessibility None
Parking Type Parking Lot
Total Parking Spaces 142
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Ocean City Schools
Others
Tax ID 08-00702-00019
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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