617 E 8th Street, Ocean City NJ |
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| Under Contract PRICE: $3,900,000 |
| MLS NUMBER: 590176 |
| BEDROOMS: 0 BATHROOMS: 0 |
| STREET ADDRESS: 617 E 8th Street |
| CITY: Ocean City NJ |
| PROPERTY TYPE: 21 - 50 Units |
| SQ FT: LOT DIMENSIONS: 135x93 |
| TOTAL ROOMS:
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| DAYS ON MARKET: |
| NEW CONSTRUCTION: No |
| TAXES: $12348 TAX YEAR: 2023 |
| PROPERTY DESCRIPTION |
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| This is the very BEST VALUE-ADD ON THE JERSEY SHORE ISLAND RESORT MARKET! Current Cash Flow Valuations are at a 9%+ CAPRATE which makes this fabulous buy an INVESTOR'S DREAM INCOME AQUISTION OPPORTUNITY & WITH TONS OF UPSIDE! The Blue Water Inn Hotel is a 40-Unit Mixed Use commercial investment property, with parking! This income producing gem is centrally located on a HIGH TRAFFIC CORNER of 8th & Ocean Ave in the very HEART OF THE HOTEL/ HOSPITALITY DISTRICT & situated on a whopping 135' x93.05 lot just a couple blocks from Ocean City's white sand beaches and bustling World Famous Boardwalk. The property features a total of40units which consists of: 32 hotel rooms (with 32 baths); 5 renovated apartments (3-1BR/1BA, 1-2BR/1BA, 1-3BR/1BA & 1-Manager'sefficiency apartment w/1BA); and 3 leased commercial stores on the street level of the building. The three commercial storefronts currently include a full-service restaurant and two additional food & beverage service retail stores. In addition, the building includes an additional 1/2 bath in Guest Check-In Lobby; 3 courtesy dayrooms with showers; laundry facility; and a total of 28 parking spaces in the parking lot adjacent to & in back of the hotel. Property recently started to undergo upgrades & renovations inclusive of the apartments; new front porch; and windows are relatively new. For the experienced developer/investor, this incredible acquisition opportunity comes with tremendous upside potential associated with property sta |
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| PROPERTY FEATURES |
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Cooling:Ceiling Fan(s),Window Units
Sale Includes: Blinds,Curtains,Drapes,Furnished,Rugs,Shades
Appliances : Dryer,Microwave,Refrigerator,Washer
Heating : None |
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Location : Boardwalk Area,Corner,See Remarks
Other Rooms : Laundry/Utility Rm,Living Room,Workshop
Sewer : Public Sewer |
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Siding/Exterior: Vinyl
Water Heater: Gas
Water: Public
Residential Style: No
Lot Dimensions
: 135x93
Lot Size: 135x93
Status: Under Contract
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| Last Database Update: 10/09/2025
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Listing Courtesy of . eXp Realty - Ocean City O382L.
© South Jersey Shore Regional MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional MLS. Real Estate listings held by brokerage firms other than Kevin Decosta of Fox & Roach Realtors - Berkshire Hathaway Homeservices are marked with the Broker Reciprocity logo (a little black house) and detailed information about them includes the name of the listing brokers. Information is deemed reliable but is not guaranteed. The broker providing these listings to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which they may be interested in purchasing. |
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Kevin Decosta