Former Knights of Columbus Hotel- | 1408 Pacific Ave
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Former Knights of Columbus Hotel- 1408 Pacific Ave
99 Room Hotel Atlantic City, NJ 08401 $3,500,000 ($35,354/Room)
INVESTMENT HIGHLIGHTS
- location, location, location..... Cannabis Green Zone, multifamily , condo.....Commercial
EXECUTIVE SUMMARY
*Building is in shell condition.
Subject Property: Current and Proposed Development
At the time of site reconnaissance, the subject property was developed with a single five-story structure with a full basement and a mezzanine level above the first floor in the southern portion of the building- This structure was indicated to have been constructed in 1927 and was originally utilized as a meeting and social hall for the Knights of Columbus organization- The upper three stories were utilized as hotel/lodging rooms. This structure has a full basement with a concrete foundation slab, a steel structural frame, concrete masonry unit (CMU) and brick bearing walls, concrete floor and roof decks, and masonry exterior walls. The structure was vacant at the time of REPSO's survey, with interior demolition partially completed. The former boiler and utility rooms are located at the southeastern portion of the structure opposite Pacific Avenue.
Subject Property: Current and Proposed Development
At the time of site reconnaissance, the subject property was developed with a single five-story structure with a full basement and a mezzanine level above the first floor in the southern portion of the building- This structure was indicated to have been constructed in 1927 and was originally utilized as a meeting and social hall for the Knights of Columbus organization- The upper three stories were utilized as hotel/lodging rooms. This structure has a full basement with a concrete foundation slab, a steel structural frame, concrete masonry unit (CMU) and brick bearing walls, concrete floor and roof decks, and masonry exterior walls. The structure was vacant at the time of REPSO's survey, with interior demolition partially completed. The former boiler and utility rooms are located at the southeastern portion of the structure opposite Pacific Avenue.
PROPERTY FACTS
| Price | $3,500,000 | Lot Size | 0.25 AC |
| Price Per Room | $35,354 | Building Size | 54,972 SF |
| Sale Type | Investment | No. Rooms | 99 |
| Sale Condition | Building in Shell Condition | No. Stories | 5 |
| Property Type | Hospitality | Year Built | 1927 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | F | Opportunity Zone |
Yes
|
| Price | $3,500,000 |
| Price Per Room | $35,354 |
| Sale Type | Investment |
| Sale Condition | Building in Shell Condition |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | F |
| Lot Size | 0.25 AC |
| Building Size | 54,972 SF |
| No. Rooms | 99 |
| No. Stories | 5 |
| Year Built | 1927 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 99 | $77.00 | - |
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Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 02-00053-0000-00001 | Improvements Assessment | $144,800 |
| Land Assessment | $180,200 | Total Assessment | $325,000 |
PROPERTY TAXES
Parcel Number
02-00053-0000-00001
Land Assessment
$180,200
Improvements Assessment
$144,800
Total Assessment
$325,000
ZONING
| Zoning Code | Resort Commercial |
| Resort Commercial |
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Former Knights of Columbus Hotel- | 1408 Pacific Ave
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