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Former Knights of Columbus Hotel- 1408 Pacific Ave 99 Room Hotel Atlantic City, NJ 08401 $4,500,000 ($45,455/Room)
INVESTMENT HIGHLIGHTS
- location, location, location..... Cannabis Green Zone, multifamily , condo.....Commercial
- The structure was vacant at the time of REPSO's survey, with interior demolition partially completed.
- Cannabis Green Zone, multifamily , condo.....Commercial
EXECUTIVE SUMMARY
*Building is in shell condition.
Subject Property: Current and Proposed Development
At the time of site reconnaissance, the subject property was developed with a single five-story structure with a full basement and a mezzanine level above the first floor in the southern portion of the building- This structure was indicated to have been constructed in 1927 and was originally utilized as a meeting and social hall for the Knights of Columbus organization- The upper three stories were utilized as hotel/lodging rooms. This structure has a full basement with a concrete foundation slab, a steel structural frame, concrete masonry unit (CMU) and brick bearing walls, concrete floor and roof decks, and masonry exterior walls. The structure was vacant at the time of REPSO's survey, with interior demolition partially completed. The former boiler and utility rooms are located at the southeastern portion of the structure opposite Pacific Avenue.
Subject Property: Current and Proposed Development
At the time of site reconnaissance, the subject property was developed with a single five-story structure with a full basement and a mezzanine level above the first floor in the southern portion of the building- This structure was indicated to have been constructed in 1927 and was originally utilized as a meeting and social hall for the Knights of Columbus organization- The upper three stories were utilized as hotel/lodging rooms. This structure has a full basement with a concrete foundation slab, a steel structural frame, concrete masonry unit (CMU) and brick bearing walls, concrete floor and roof decks, and masonry exterior walls. The structure was vacant at the time of REPSO's survey, with interior demolition partially completed. The former boiler and utility rooms are located at the southeastern portion of the structure opposite Pacific Avenue.
PROPERTY FACTS
| Price | $4,500,000 | Building Size | 54,972 SF |
| Price Per Room | $45,455 | No. Rooms | 99 |
| Sale Type | Investment | No. Stories | 5 |
| Sale Condition | Building in Shell Condition | Year Built | 1927 |
| Property Type | Hospitality | Parking Ratio | 0.31/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | F | Opportunity Zone |
Yes
|
| Lot Size | 0.25 AC | ||
| Zoning | Resort Commercial - Resort Commercial | ||
| Price | $4,500,000 |
| Price Per Room | $45,455 |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | F |
| Lot Size | 0.25 AC |
| Building Size | 54,972 SF |
| No. Rooms | 99 |
| No. Stories | 5 |
| Year Built | 1927 |
| Parking Ratio | 0.31/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | Resort Commercial - Resort Commercial |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 99 | $77.00 | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 02-00053-0000-00001 | Improvements Assessment | $144,800 |
| Land Assessment | $180,200 | Total Assessment | $325,000 |
PROPERTY TAXES
Parcel Number
02-00053-0000-00001
Land Assessment
$180,200
Improvements Assessment
$144,800
Total Assessment
$325,000
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Jackie 888
Former Knights of Columbus Hotel- | 1408 Pacific Ave
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