7080 Black Horse PikePleasantville, NJ 08232

Property Details for 7080 Black Horse Pike

Construction

CONCRETE BLOCKS

Lot size

0.71 AC

Property type

Hospitality properties

Property subtype

Motels

APN

08 04301-0000-00003

APU

804301000000003

Description

This exceptional investment opportunity presents a 48-unit motel ideally situated in West Atlantic City, New Jersey, just 4.5 miles from the renowned Atlantic City Boardwalk, casinos, beaches, Convention Center, and Tanger Outlets. The property, encompassing 10,000 square feet on a 0.71-acre lot, offers significant potential for strong returns. Each of the well-maintained guest rooms includes modern amenities such as free Wi-Fi, private bathrooms, microwaves, refrigerators, flat-screen TVs, and kitchenettes, ensuring a comfortable stay for guests. The motel's convenient location off US-Route 40 provides easy access to Atlantic City's vibrant attractions and surrounding areas. Its proximity to Atlantic City International Airport, serving over 3 million travelers annually, further enhances its appeal and potential for consistent occupancy. This two-story property represents a rare chance to acquire a thriving business with significant upside in a high-demand tourist destination. The asking price is $1,800,000. This turnkey operation is ready for a new owner to continue its success or implement further growth strategies. The property's strong location and existing infrastructure make it an attractive investment for both seasoned and aspiring hospitality entrepreneurs.

• CAP approach

  CAP return

  Valuation

  6%

  $11,270,311

  6.5%

  $10,403,364

  7%

  $9,660,267

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,457,478

  Geo Method

  $9,457,478

• Alternative Use

  Use

  Valuation

  Residential

  $11,357,451

  Hospitality

  $10,403,364

  Educational

  $8,655,477

  Medical

  $8,953,152

  Retail

  $13,464,075

Location Insight

City

Pleasantville

County

Atlantic

State

New Jersey

Latitude

39.3833

Longitude

-74.5012

CBSA code

12100

CBSA name

ATLANTIC CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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