13% Cap | Historic Hotel | 42 Rooms

142 S. Tennessee Ave, Atlantic City, NJ 08401

Property Info

Zetabid is accepting offers on this asset in Atlantic City. Located in an opportunity zone and only a few minutes from the beach, this property has multiple redevelopment possibilities and is a true value add sale. There is an additional 3,500 SF of retail space on the ground floor recently leased for 5 years. Please visit our Due Diligence Vault for additional details and financial information.

  • City : Atlantic City
  • State : NJ
  • Zip Code : 08401
  • Property Type : Hospitality
  • Square Feet : 15240
  • Lot Size : .11 AC
  • Year Built : 1925
  • Year Renovated : 2001 | Exterior Paint 2018
  • PF 2020 Gross Income : $269,760
  • PF 2020 Expenses : $109,375
  • PF 2020 NOI : $177,245
  • Cap Rate : 13.03%
  • Retail Space | Ground Floor : 3,500 SF | 5 Year Lease 2025
  • Rooms | Baths : 42 | 5
  • Stories : 4
  • Zoning : RS-C
  • Parcel ID : 02-00053-0000-00017
Status:Active
Starting Bid: $1,359,900
  • Buy Now Price :$1,359,900

    Important Information

    • Broker Coop :2%
    • Financing :No
    • Inspection Contingency :Yes
    • Showings :Call Eric Koesterer @ 818.426.2660

    Auction Contact

    Broker Contact

    • Phone :(424) 888-6068