1101 Ocean Ave - Soleil Resort 1.89 Acres of Commercial Land Offered at $25,000,000 in Ocean City, NJ 08226
EXECUTIVE SUMMARY
Currently a parking lot, the property is approved for 111 two- and three-bedroom condos (1,100 SF each) with balconies or porches, plus a 400-space garage with valet and stacking. Amenities include a pool, sun deck, rooftop lounge, spa, fitness center, and restaurant—perfect for vacationers, second-home buyers, and rental investors. Approved by the Planning Board (2017) and with a CAFRA permit (2018).
Ocean City’s 8-mile beaches, vibrant boardwalk, and family-friendly appeal draw millions yearly, driving demand in a low-inventory market. This site offers a turnkey chance to capitalize on a thriving coastal destination with a premium project.
Contact Eric Booth at 609-602-2303 for details or a site visit. Due diligence materials are available upon request.
PROPERTY FACTS
1 LOT AVAILABLE
Lot 1
| Price | $25,000,000 |
| Price Per AC | $13,227,513.23 |
| Lot Size | 1.89 AC |
Soleil Resort site is currently a parking lot, approved for a 111-unit condominium hotel. Beach block and steps to the world-famous Ocean City NJ boardwalk, development opportunity is a 6-story luxury midrise with pool, spa and 400-space garage.
DESCRIPTION
Seize a rare chance to own a fully approved 111-unit condominium hotel development on a prime beach block lot in Ocean City, NJ, America’s Greatest Family Resort. The Soleil Resort at 1101 Ocean Avenue, adjacent to the landmark Flanders Hotel, overlooks New Jersey’s #1 beach. This shovel-ready vacant lot offers a six-story boutique midrise (concrete/steel) with 111 two- and three-bedroom, two-bathroom condo units, each 1,100 SF, featuring balconies (covered porches on the first floor) and stunning ocean, bay, and pool views. Project Highlights: Phased Construction: Phase 1 (East Tower) – 35 units atop a 400-space parking garage with stacking/valet; Phase 2 (West Tower) – 29 units; Phase 3 (North Tower) – 47 units. Amenities: Pool/sun deck on the 4th-floor garage, rooftop deck on the East Tower, full-service spa, fitness center, restaurant, room/maid service, doorman, 24-hour security, rental program, business center, lobby, and unit storage. Approvals: Ocean City Planning Board preliminary approval (Oct 2017), CAFRA permit (Jul 2018), zoned under Redevelopment Area Plan. Location Perks: Ocean City boasts 8 miles of beaches and bay for boating, fishing, and kayaking, a 2.5-mile boardwalk with amusement parks, a water park, go-carts, and mini golf, plus fine dining, and a downtown shopping district. A dry town, it’s a family-fun haven with events like First Night and Night in Venice, drawing millions from Philadelphia, Baltimore, and beyond. Investment Appeal: With housing inventory at historic lows, Soleil meets soaring demand in a market where larger condo-hotel units are in demand. This opportunity offers a phased, flexible buildout in a year-round resort island known for its cultural and recreational allure. Contact: Eric Booth at 609-602-2303 for plans, permits, or a site visit (NDA required). Don’t miss this chance to redefine luxury in Cape May County!
PROPERTY TAXES
| Parcel Number | 08-01101-0000-00001 | Improvements Assessment | $116,500 |
| Land Assessment | $4,905,500 | Total Assessment | $5,022,000 |
ZONING
| Zoning Code | Redevelopment |
