Remarks

Welcome to "The Passport Inn" (6 MacArthur Blvd) a rare and exceptional opportunity to own a prime piece of real estate in the highly sought after area of Somers Point, NJ. This unique property features an impressive 8698 square feet of space made up of a 22-unit motel and an additional 3-bed 2-bath apartment, perfect for owner's quarters or additional rental/ABNB income. The apartment has always been utilized by the owners who have owned and operated the property for over 30 years. The property boasts a sizable lot measuring 150 x 190 square feet, providing ample space for guests to enjoy. With impressive cash flow over the past 30 years and a desirable location across the street from the renowned Crab Trap restaurant and right over the 9th St bridge leading into Ocean City, this property presents an unparalleled opportunity to capture the shore rental market. The motel consistently operates at 100% capacity during the summertime and maintains a strong 70% booking rate in the offseason, ensuring a steady income stream with a loyal repeat customer base all year round. In 2011 the property underwent upgrades and renovations including new electric, plumbing, stucco, roof, pool, heating/air system, and much more. Don't miss out on this one-of-a-kind location and the chance to own a thriving business in the desirable Somers Point area. Franchise can be cancelled at any time without penalty. Training and help will be provided to new owners if needed.

Details

MLS#: 585798
Price: $2,590,000

Style: Commercial

County: Atlantic
Lot Size: 150 x 190
Tax Fee: 27029