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120-136 Sumner Avenue

Seaside Heights, NJ 08751
  • $5,499,900
  • STATUS: Active
  • ON SITE: 126 Days
  • MLS #: 22201193
UPDATED: 15 min ago
$5,499,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

Sea Palace Inn and Sea Palace Motel. 2 Building compound steps from the beach on the main corridor into town. Well run and super clean multiple properties for the price of one. Gross income in excess of $1,100,000.00. NOI could be over $800,000.00. Huge double digit Cap Rate over 14%. 44 units plus mgrs unit. Handicap access includes a large elevator. These well maintained properties are steps to the beach and have a significant upside as the owner runs only part of them year around. Great opportunity for an owner operator to step into a monster income. Located 1 hr from NYC, Philly and AC off Pky Exit 82. Shows very well. Need POF to book appointments.

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© 2022 Monmouth-Ocean MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Streetlight Team | Formula Realty. Data last updated 2022-05-22T11:20:02.117.
www.streetlightrealestate.com/homes/124782369
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120-136 Sumner Avenue Seaside Heights, NJ 08751

  • Price: $5,499,900
  • Status: Active
  • On Site: 126 Days
  • Updated: 15 min ago
  • MLS #: 22201193
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Seaside Heights (SEH)
County:
Ocean
Area:
Seaside Heights (SEH)
Property Description
Sea Palace Inn and Sea Palace Motel. 2 Building compound steps from the beach on the main corridor into town. Well run and super clean multiple properties for the price of one. Gross income in excess of $1,100,000.00. NOI could be over $800,000.00. Huge double digit Cap Rate over 14%. 44 units plus mgrs unit. Handicap access includes a large elevator. These well maintained properties are steps to the beach and have a significant upside as the owner runs only part of them year around. Great opportunity for an owner operator to step into a monster income. Located 1 hr from NYC, Philly and AC off Pky Exit 82. Shows very well. Need POF to book appointments.
Exterior Features

Construction Siding Other - See Remarks Exterior HandicappedLightingSecurity SystemSign Garage No Location Business DistrictNear Parkway Access Lot Description Corner LotCurbingHighway FrontageLandscapedOceansideSee RemarksSidewalks Lot Dimensions 110 X 10090 X 100 Parking Driveway Off StreetOn Site Parking Spaces 32.00 Roof A-FrameShingled

Interior Features

Basement Other Elevators 1.00 Elevators Capacity 6.00 Floors Tile Heat AC Other Heat Fuel See Remarks Interior Handicapped Rental Units 44 Sq Ft Available For Lease 20000.0000 Water Heater Natural Gas

Property Features

Assessment Land 995000.00 Assessment Status Assessed Assessment Total 2531700.00 Business Name Sea Palace Inn And Motel Business Operating Yes Commercial Type Commercial Deed Restrictions No Electric1 200 - 400 AMP Farm No Farm Assessed No Financials Per Year Franchise No Gas On Site Handicap Access No Improvements Assessment 1536700.00 Landlord Pays Other - See Remarks Lease No New Construction No Sale Yes Sale Includes Business NameEquipment/FurnitureGoodwillInventoryLicenseMachineryPhone SystemSignsTraining By Owner Sewer Public Sewer Tax Year 2021 Taxes 63798.00 Use Hotel/Motel Water Public Water Zoning Central BusinessCommercialMixedMulti-FamilyMulti-Use

Listing information © 2022 Monmouth-Ocean MLS. Listing provided courtesy of Michael Loundy of Seaside Heights Realty Inc..


© 2022 Monmouth-Ocean MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The Streetlight Team | Formula Realty. Data last updated 2022-05-22T11:20:02.117.
 
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