Turn-Key Motel with Commercial
2741 Pacific Ave, Atlantic City, NJ 08401
Call to check price and availability
Recently renovated 25-unit motel with commercial space in Atlantic City.
Type:Hospitality
Property size:
9,032 SFPrice / SF:
$116/SF- Added:
- Jul 11, 2024
- Days on Market:
- 680
- Last Refresh:
- Mar 16 at 1:02 pm
Property Features for 2741 Pacific Ave
General Information
- Standard status
- Active
- Size
- 9,032 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1956
Listing agent BRYAN BAEHRLE License #1644942
Listing office Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield (609) 226-6680
Listing date Jul 11, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield
HighLights
- Prime Location: Directly across from Tropicana Casino and one block from the beach in Atlantic City's resort district.
- Turn‑Key & Income‑Producing: Fully operational, recently renovated 25‑unit motel with commercial space.
- Long‑Term Land Lease: Secured land lease through 2056 provides operational stability.
- Diversified Revenue Potential: Motel and street‑level commercial space benefit from high pedestrian traffic.
- Recent Upgrades: Enhancements improve efficiency and curb appeal.
- High‑Traffic Location: Situated at a signalized intersection in a high‑traffic area.
Overview
This is a fully operational and recently renovated 25-unit motel with commercial space. It is located directly across from Tropicana Casino and one block from the beach at a signalized intersection in Atlantic City’s high-traffic resort district. The property is an income-producing asset with consistent guest demand, strong visibility, and diversified revenue potential. The guest rooms are well-maintained, and the street-level commercial space benefits from steady pedestrian flow. The property is secured by a land lease through 2056, providing long-term operational stability. Recent upgrades enhance efficiency and curb appeal. The property is surrounded by casinos, dining, nightlife, and the Boardwalk. It is well-positioned for investors, hospitality operators, and 1031-exchange buyers seeking stable cash flow with future upside in a proven tourism market. The property size is 9,032 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$964.2K
NOI $86,775 @ 9.00% cap · cautious / downside scenario
Moderate
$1.24M
NOI $86,775 @ 7.00% cap · market / base-case scenario
Aggressive
$1.74M
NOI $86,775 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.5k | $15.00 |
| − Vacancy | −$11.5k | −$1.28 |
| EGI | $124.0k | $13.73 |
| − OpEx | −$37.2k | −$4.12 |
| NOI | $86.8k | $9.61 |
9,032 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.24M
$1.08M – $1.45M
NOI $86,775 @ 7.0% cap · market cap 8.26%
Second Best
Hotel Hospitality
$781.4K
$683.8K – $911.7K
NOI $54,700 @ 7.0% cap · market cap 5.21%
Theoretical Best
Warehouse
$3.36M
$2.94M – $3.92M
NOI $235,442 @ 7.0% cap · market cap 22.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Eldorado Motor Inn
Hotel & Motel
Golden Gate Jewelers
(Bike/Boat/Book/etc) Store
Similar Places Nearby
- Rodeway Inn Oceanview — 3200 Pacific Ave, Atlantic City, NJ 08401
- Downbeach Inn — 3601 Pacific Ave, Atlantic City, NJ 08401
- Bungalow Beach Boardwalk Run — 3007 boardwalk, atlantic city, nj 08401
- Stockton Atlantic City Apartments — 3701 boardwalk, atlantic city, nj 08401
- Days Inn by Wyndham Atlantic City Oceanfront-Boardwalk — 3000 Boardwalk At, Morris Ave, Atlantic City, NJ 08401
Location Insight
- Map
- Local Demand
- City
- Atlantic City
- County
- Atlantic
- State
- New Jersey
- Longitude
- -74.4445269
- Latitude
- 39.3536399
Nearby Similar for Sale
FAQs
What type of property is this?
Motel - Recently renovated 25-unit motel with commercial space in Atlantic City.
Where is this motel located?
The property is located at 2741 Pacific Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Prime Location: Directly across from Tropicana Casino and one block from the beach in Atlantic City's resort district.; Turn‑Key & Income‑Producing: **Fully operational, recently renovated 25‑unit motel with commercial space.**; Long‑Term Land Lease: Secured land lease through 2056 provides operational stability.
