Dunes by the Ocean 1601 Ocean Ave 25 Room Hotel Point Pleasant Beach, NJ 08742 $3,600,000 ($144,000/Room)
EXECUTIVE SUMMARY
Just passed the 5 year DCA certification! The most popular Jersey Shore destination. Excellent shore property run as absentee ownership. Experienced Management in place! Manager will be willing to sign a long-term lease! Ideal 1031 exchange property! Owner operator can generate additional income. Beach access directly across the street. Excellent cash flow. Fully documented revenue/income history so can easily be financed, with 30% down payment. 23 rooms and 2 apartments. Operated only in spring/summer from May-September. Visit www.dunesbytheocean.com. At $150,000 per bedroom, one of the lowest price per bedroom along the shore! Price per SF is just $460, well below the replacement cost at the shore! The property sits on 3 lots and the land value alone is over $2.7 Million. New electrical panels and 600 AMP three phase electric service
PROPERTY FACTS
| Price | $3,600,000 |
| Price Per Room | $144,000 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 9,064 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2013 |
| Parking Ratio | 2.54/1,000 SF |
| Corridor | Exterior |
| Zoning | RR3 |
AMENITIES
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $474.00 | - |
| Guest Room | 23 | $259.00 | - |
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PROPERTY TAXES
| Parcel Number | 26-00179-02-00005 | Improvements Assessment | $480,000 |
| Land Assessment | $1,080,000 | Total Assessment | $1,560,000 |
