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Larry DePalma

Millville, New Jersey
Broker/ Owner
856-364-6697
Contact Me

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Listing 3 out of 344
$3,555,000 For Sale

19 Macarthur Boulevard
Somers Point, NJ 08244

Single Family Home
lot: 2.61 acres - MLS# NJAC102974
Property Photo
1/4

Description

PRIME INVESTMENT OPPORTUNITY -- SHOVEL READY-- 114 ROOMS-- HOME 2 SUITES by HILTON--Expected to Return NEARLY $19M on a 7 year exit plan!INCLUDED IN PRICE: Free and Clear Land Ownership Transfer; All Zoning and Planning Boards and CAFRA Approvals; Approved Preliminary Architectural Plans and Assistance With Final Ready to Build Plans and Permitting; Executed Hilton Franchise Agreement Transfer; Site Work and Preparation Completed, Ready for Foundation; Introduction to Modular Unit Builder for floors 2 through 5; And, Full Cooperation and Assistance from Seller throughout the transition of ownership and construction period.PROJECT DESCRIPTION: A fully-approved, to-be-built five-story, 114-room extended-stay lodging facility situated on a 2.61 acre site in Somers Point, Ocean County, New Jersey. Amenities will include a breakfast dining area, an indoor swimming pool, a lobby work station, a market pantry, a guest laundry room, and a vending area. Paved parking spaces for 125 automobiles will surround the hotel. The gross building area is 69, 029 square feet. The site is cleared and ready for construction. The first floor will be standard construction while floors 2 through 5 will be modular construction.The construction period is estimated at Ten to Twelve Months.PROPERTY TAX MAP ID: Block 1715, Lots 1 and 8; and, Block 1815, Lots 3 and 8ZONING DESIGNATION: HC-2: Highway Commercial

Features

  • Property Type: Single Family Home
  • Sub Type: Single Family Home
  • Listing Status: Active
  • County/Area: Atlantic County
  • Zip Code: 08244
  • School District: Somers Point
  • Lot Size: 2.61 acres
  • Zoning: HC-2
  • # of Parking Spaces Included: 26 to 50 Car Garage
  • Above Grade Fin SQFT Source: Assessor
  • Above Grade Finished Area Units: Square Feet
  • Below Grade Fin SQFT Source: Assessor
  • Below Grade Finished Area Units: Square Feet
  • Below Grade Unfin Area Units: Square Feet
  • Below Grade Unfin SQFT Source: Assessor
  • Building Total SQFT Source: Estimated
  • Business Name: Home 2 Suites By Hilton
  • Improvements: Above Grade, Below Grade
  • Lot SQFT: 113,692
  • Lot Size Units: Square Feet
  • Municipality: somers point
  • Photo Option: Lister Will Upload All
  • SchoolDistrictSource: 3rd Party
  • Sewer Septic: No Sewer System
  • Tax Annual Amount: 28152.0
  • Tax Year: 2018
  • Total Below Grade SQFT Source: Assessor
  • Total Finished SQFT Source: Assessor
  • Total SQFT Source: Assessor
  • Type Of Parking: Parking Lot
  • Year Built Source: Assessor
Courtesy of American Heritage Realty


Larry DePalma | 856-825-5500 | Contact Me
111 High Street N - Millville, NJ 08332
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