175 Tennessee Ave Atlantic City, NJ 08401
- Hospitality properties
- 37,852 SF
- 0.34 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 175 Tennessee Ave
- Year built
- 1940
- Lot size
- 0.34 lot acres
- Property size
- 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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlantic City
- County
- Atlantic
- State
- New Jersey
- Longitude
- -74.4257
- Latitude
- 39.3592
