125-127 S St. James Pl
Atlantic City, NJ 08401
Auction:11/13 - 11/15: Former Atlantic City H · Specialty Property For Sale · 65,000 SF

Property tours are available by appointment ONLY. Please contact Eva Horton to schedule at ehorton@ngkf.com or 770-552-2404. Investment Highlights: Huge value-add opportunity significantly below replacement cost ñ65,000 SF, 85-room, former Flanders Hotel/Claremont Hotel Owner-operator opportunity or value-add through lease-up at market rates or redevelopment Alternative uses include ALF, nursing school, dormitory, medical offices/clinics, etc Located on the "beach block" a block from the ocean Dense demographics with 2017 Population of ñ61,647 with 5-mile radius Investment Overview: The former Flanders Hotel/Claremont Hotel is a ñ65,000 SF, 85-room hotel, located at 127 S St. James Place in Atlantic City, NJ. This Property offers investors the opportunity to purchase this former hotel at a significant discount with a huge value add opportunity for either owner operators or investors through lease-up or redevelopment. The Property is the former eight-story Flanders Hotel that Claremont Hotel Inc. purchased and began renovating in 2011. Claremont made substantial progress with its renovation but halted the program prior to full completion/re-opening. The Property si The Property sits on a ñ0.24 AC parcel and contains a ñ65,000 SF and is comprised of 85 hotel rooms, a 4,000 square foot ballroom/restaurant, and street level retail spaces. In addition to its use as a hotel, alternative uses might include assisted living, nursing home, nursing school, dormitory, medical offices/clinics, retirement community, religious retreat, halfway house, psychiatric facility, etc. Atlantic City is a resort city on New Jersey's Atlantic coast that's known for its many casinos, wide beaches and iconic Boardwalk. Established in the 1800s as a health resort, today the city is dotted with glitzy high-rise hotels and nightclubs. More than $1.7 billion in investments in recent years has enhanced Atlantic City's magnetic appeal with world-renowned casinos resorts and hotels, big name restaurants featuring famous chefs, unique attractions, headline entertainment, luxurious spas, championship golf, elite shopping and more. Atlantic City is only an hour from Philadelphia and two-and-a-half hours from New York City and is accessible via rail service provided by NJ Transit which arrives and departs through the rail terminal adjacent to the Atlantic City Convention Cente