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Key Details
Sold Price $8,250,000
Property Type Commercial
Sub Type Hotel
Listing Status Sold
Purchase Type For Sale
Square Footage 40,000 sqft
Price per Sqft $206
MLS Listing ID 232867
Sold Date 03/28/24
Annual Tax Amount $67,914
Tax Year 2023
Lot Dimensions 40000
Property Sub-Type Hotel
Property Description
The Oceanic Motel and the Barefoot Bar located directly across from the Wildwood Convention Center, beach and boardwalk. Unobstructed views of the beach and boards is what makes this famous Wildwood hotel such an Icon at the shore. The motel portion boasts 70 units consisting of efficiency units up to 2 bedroom units. 30 units have kitchens. There are two bars on the property, one is a swim up bar, the only one on the island. This outside bar features plenty of patio space as well as a bandshell for entertainment. The inside bar boasts plenty of seating as well as food service and also plenty of room for entertainment. This sale includes a Broad C liquor license as well as additional 120x100 parking lot on Burke Avenue for bus parking, etc. Income and expense information available to qualified buyers and non-disclosure statement. Owner is a licensed New Jersey Real Estate Broker.
Location
State NJ
County Cape May County
Area Wildwood
Zoning HM
Location Details Business District,Boardwalk,Water View
Rooms
Other Rooms Laundry Room, Office Space Avail
Interior
Interior Features Display Window, Restroom
Hot Water Gas
Heating Electric, Forced Air
Cooling Central Air Conditioning, Wall Air Conditioning
Flooring Wall To Wall Carpet, Hardwood
Exterior
Exterior Feature Swimming Pool, Restrooms, Storage Building, Sign, Fence
Parking Features One Per Unit Motel/Hotel
Building
Lot Description Business District, Boardwalk, Water View
Story 4
Sewer City
Water City
Structure Type Block,Brick Face
Others
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Bought with KELLER WILLIAMS REALTY JERSEY SHORE wc