Coldwell Banker Home Page
Local Realty Service Provided By: Coldwell Banker James C. Otton Real Estate, Inc.
Property view
Listing view 2
Listing view 3

724 Ocean Ave, 
Ocean City, NJ 08226

$5,500,000


Bed


Bath


-

Sq Ft


Multi-Family

Active

Listed by

Kristina Doliszny

Robert Doliszny

eXp Realty - Ocean City O382l

609-513-1126

Last updated:

May 4, 2025, 02:47 PM

MLS#

595787

Source:

NJ SJSRMLS

About This Home

724 Ocean Ave

RARE ACQUISITION OPPORTUNITY - HEART OF OCEAN CITY’S HOSPITALITY DISTRICT! Securing a hotel operation in Ocean City NJ is like winning a lottery ticket – it rarely happens! First and due to super low hotel-room supply and incredibly high demand, there are only a handful of coveted hospitality assets available in Ocean City, which happens to continuously fuel investors upside. Second, it’s only once every few decades that a turn-key hotel hits the market on this high disposable income beach island resort. This brand newly remodeled hotel is modernly appointed with today’s fashion forward designs, high ceilings, wide hallways, generous common area spaces and a coveted wrap-around porch like no other! It boasts 29 fabulous hotel suites (including three 2-bedroom suites); a bonus income hotel section that includes 10additional rooms which can house up to 29 staff and/or island employees requiring seasonal accommodation; 25 parking spaces in an adjacent parking lot; and an in-ground swimming pool at the back of the hotel. Ideally situated just a short 1 ½ block from Ocean City’s white soft sandy beaches and world-famous boardwalk, its superb “walk-to-everything” location makes it the perfect spot for vacationers. Property wascompletely renovated, yet intentionally retained some of its architectural exterior and interior details to preserve the old school Ocean City allureand still left room for a new owner to incorporate their own touches making this unique hospitality property a truly “one-of-a kind” gem. The hotel opened its doors in late Summer 2024, enjoyed an impressive opening start-up season (whose late seasonal start income generates approx.7% cap rate) with nothing but upside and opportunity tied to its ongoing and future operation. Winter Rentals could quickly add an instant $100Kto the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. This is a perfect asset for any existing short-term rental investor or hotelier looking to scale up and add to their portfolio. Pre-Qual & NDA are required for financially qualified buyers only. For more property details, obtain an NDA to review financials and schedule a private showing, please call us directly now.

Home Facts

Multi-Family

Price Summary

5,500,000

MLS #:

595787

Last Updated:

May 4, 2025, 02:47 PM

Added:

5 day(s) ago


Finances & Disclosures

Finances

Price:

$5,500,000

Source:NJ SJSRMLS
The information being provided by South Jersey Shore Regional MLS is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 South Jersey Shore Regional MLS All rights reserved.

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.

 

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.