120-136 Sumner Avenue
120-136 Sumner Avenue Seaside Heights, New Jersey 08751 United States

$5,499,900
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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...
Marlene Albrecht
  • Real Estate Professional
1020 Highway 35
Middletown, New Jersey 07748 United States
$5,499,900
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Commercial
Property type
22201193
Web Id
22201193
MLS ID
Seaside Heights Borough
School District
168
days ago

About 120-136 Sumner Avenue

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.

PROPERTY INFORMATION

Basement
Other
Heating
See Remarks
Parking Description
Off Street, On Site

EXTERIOR

Exterior Features
Handicapped, Lighting, Security System, Sign
Lot Description
Corner Lot, Curbing, Highway Frontage, Landscaped, Oceanside, See Remarks, Sidewalks
Roofing
A-Frame, Shingled

INTERIOR

Flooring
Tile
Interior Features
Handicapped

ADDITIONAL INFORMATION

ANNUAL PROPERTY TAX
$63, 798
Listed by Seaside Heights Realty Inc.

Seaside Heights Realty Inc.

Marlene Albrecht
  • Real Estate Professional
1020 Highway 35
Middletown, New Jersey 07748 United States
Listed by Seaside Heights Realty Inc.
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