175 Tennessee AveAtlantic City, NJ 08401

Property Details for 175 Tennessee Ave

Year built

1940

Lot size

0.34 AC

Property size (Sq ft)

37,852 SF

Property type

Hospitality properties

Property subtype

Hotels

Description

This exceptional investment opportunity presents a 71-key Super 8 by Wyndham hotel in Atlantic City, New Jersey. Located at 175 S Tennessee Ave, this four-story, 37,852 square foot property sits on a 0.34-acre lot and boasts 45 parking spaces. Built in 1940 and renovated in 2022, the hotel benefits from a strong location with a "Very Walkable" score of 79 and a "Good Transit" score of 54, ensuring easy access to the beach, boardwalk, and other attractions. The property features a ground lease expiring January 1, 2061, offering long-term stability. Financial highlights include an asking price of $2,975,000 ($41,901 per key), a 14.07% cap rate, and a net operating income (NOI) of $418,706. The hotel's 2023 gross room revenue was $1,027,589, and the property is zoned RS-C. This value-add opportunity within the thriving Atlantic City tourism market presents significant potential for increased profitability. The property's strong location, coupled with its affiliation with Wyndham Hotels & Resorts, provides a solid foundation for future growth. A 20% down payment of $699,000 is required, and SBA financing is available. Detailed financial statements are available upon request.

Location Insight

City

Atlantic City

County

Atlantic

State

New Jersey

Latitude

39.3592

Longitude

-74.4257

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