605 Madison Avenue, Cape May NJ - SOLD

Sold Price: $8,750,000
MLS: 222516     Beds: 0     Baths:     Type: Motel     Lot: 130 x 334     Taxes: $36,653     DOM: 273 Days

This is a one in a lifetime opportunity to own a Cape May Motel with 42 rooms, a pool and parking 6 blocks from Cape May’s beautiful beaches, walking distance to town and shopping, a bike ride to all places and events that Cape May is famous for. The Madison Avenue Beach Club is a premier location for your Cape May vacation needs with pet friendly accommodations. The Madison Avenue Beach Club Motel invites you to be their guest and come stay in the heart of Victorian Cape May. This centrally located Cape May Motel showcases studios with free Wi-Fi, a DVD player and flat-screen TV. Clean neat, tiled rooms with split system air conditioning and heat with 11 suites, 31 studio rooms an office and in house laundry room. Since 1941, the Demutis family has been vacationing in Cape May and has considered it a second home. Personal and professional ties to the community are strong. Recognized in Pennsylvania as leading redevelopment and revitalization real estate developers, the 3rd generation of Demutis builders boast a wide range of experience with both new construction and renovation. Their projects are often featured in the press, most notably, the Philadelphia Inquirer, the Philadelphia Business Journal, the Cape May Star & Wave, and the Atlantic City Press. You will not be disappointed in the condition of The Madison Beach Club facility. Plenty of parking and if you should decide to Condo the property in the future, we have those documents mostly finished to make the transition an easy success. Appointment only as this is a busy Motel, fully operational and in a busy year-round community.

PROPERTY FEATURES & AMENITIES

Heat Fuel:Electric   Heat Fuel:Space/Wall/Floor   Water Heater:Gas   Other Financing   11 Or More Spaces   Off Street   Smoke/Fire Alarm   Storage   Cooling:Electric   Cooling:Wall Air Conditioning   City   Exterior:Other (See Remarks)

PROPERTY MAP & AERIAL VIEW

Last Database Update: 2023-05-29 10:45:21

Let Coldwell Banker Sol Needles Real Estate be your buyer's agent for this listing. Listing is provided by COASTLINE REALTY, LLC. The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.