Active
301 Mays Landing Rd
Somers Point NJ, 08244
$2,899,999
Active
Commercial
Welcome to "The Passport Inn" (6 MacArthur Blvd) a rare and exceptional opportunity to own a prime piece of real estate in the highly sought after area of Somers Point, NJ. This unique property features an impressive 8698 square feet of space made up of a 22-unit motel and an additional 3-bed 2-bath apartment, perfect for owner's quarters or additional rental/ABNB income. The apartment has always been utilized by the owners who have owned and operated the property for over 30 years. The property boasts a sizable lot measuring 150 x 190 square feet, providing ample space for guests to enjoy. With impressive cash flow over the past 30 years and a desirable location across the street from the renowned Crab Trap restaurant and right over the 9th St bridge leading into Ocean City, this property presents an unparalleled opportunity to capture the shore rental market. The motel consistently operates at 100% capacity during the summertime and maintains a strong 70% booking rate in the offseason, ensuring a steady income stream with a loyal repeat customer base all year round. In 2011 the property underwent upgrades and renovations including new electric, plumbing, stucco, roof, pool, heating/air system, and much more. Don't miss out on this one-of-a-kind location and the chance to own a thriving business in the desirable Somers Point area. Franchise can be cancelled at any time without penalty. Training and help will be provided to new owners if needed.
582833
MLSⓇ ID
March 4, 2024
Listed
May 9, 2024
Updated
Map
301 Mays Landing Rd
Somers Point NJ, 08244
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Exterior Features
Swimming Pool
Lot Features
Swimming Pool
Other Property Details
Area Name
Somers Point City
Taxes
$27,029
Tax Frequency
Annually
Garage
No
View
No
County
Atlantic
Pool
Yes
Listing History
Date | Event | Price |
---|---|---|
4/25/2024 | Price Change | $2,899,999 -4% |
4/1/2024 | Price Change | $3,000,000 -7% |
Listed by KAYLA NOLL with Compass New Jersey-Ocean City
Listing Contact:
The IDX display contains information sourced from the South Jersey Shore Regional MLS as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
©2024 South Jersey Shore Regional MLS all rights reserved.
Data last updated on 5/9/2024 at 8:57 AM UTC