1325 Boardwalk Ave - Office/Residential FOR SALE


Atlantic City, NJ 08401- Downtown Atlantic City
$8,900,000 USD
813-624-1500
1325 Boardwalk Ave, Atlantic City, NJ for Sale
$8,900,000 USD
Office/Residential - FOR SALE
1/18
null | 7.5% Cap Rate

1325 Boardwalk Ave
Atlantic City, NJ 08401
Downtown Atlantic City


HIGHLIGHTS

  • Casino Control Commission "State of New Jersey Guarantor"
  • 35 year occupancy history - Mission Critical Sight
  • Irreplaceable Boardwalk/Beachfront Location
  • Retail/Office Component
  • Boardwalk Foot Traffic Synergy
  • Walkable location to all area attractions

OVERVIEW

GSA Realty Advisors, as exclusive advisor to the Seller is pleased to offer for sale "The Arcade Building", anchored by the State of NJ Casino Control Commission. The commission has anchored this historic building for more than 35 years and has recently signed a new 4-year extension. The location is mission critical to the Commission due to the properties proximity to the various casinos it oversees. Additionally, the site is zoned for 33 stories/air rights making for a significant value add play if the state fails to renew its term in the future. Located on the Boardwalk near the Central Pier facing the Atlantic Ocean and adjacent to Resorts Hotel Casino and due north of Caesars Palace Hotel & Resort. Building features a subterranean garage for State of NY Employees.

FOR SALE DETAILS

PRICE

$8,900,000 USD

PRICE/SF

$120 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arcade Bldg

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

RS-C

APN/PARCEL ID

02-00055-0000-00001

ASK ABOUT THIS PROPERTY

Michael JohnsGSA Realty AdvisorsMore Info
813-624-1500

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Michael JohnsGSA Realty AdvisorsMore Info
813-624-1500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.