Ocean City, NJ 08226,605 E 8TH STREET #D
Ocean City, NJ 08226,605 E 8TH STREET #D
Ocean City, NJ 08226,605 E 8TH STREET #D
37
$699,900
$699,900
Est.Price: ?

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1,850 SqFt

605 E 8TH STREET #D Ocean City, NJ 08226

Est. payment /mo
SOLD DATE : 01/03/2023

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Key Details

Sold Price $699,900

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 1,850 sqft

Price per Sqft $378

MLS Listing ID NJCM2000696

Sold Date 01/03/23

Originating Board BRIGHT

Year Built 1905

Annual Tax Amount $2,963

Tax Year 2021

Lot Size 2,075 Sqft

Acres 0.05

Lot Dimensions 40.5X50

Property Description

ATTENTION INVESTORS AND RESTAURANT OWNERS!! A great opportunity to own one of the most successful Ocean City Restaurants, TheVarsity Inn!! This restaurant is an established, year-round, turn-key eatery, which has been a profitable business since 1969. This property has a history of guaranteed income netting an average of $146k annually. The restaurant is being sold with a full staff, full inventory, and the owner is willing to assist the new owner by staying employed during a transition phase after the sale. This spacious restaurant/property has interior seating for 84 and a total of 100 seats including exterior, when weather permits. In 2016 the Varsity Inn was reconstructed from the ground up. This corner property has been professionally outfitted from top to bottom with the best commercial grade kitchen equipment, display cases, beverage coolers, display racks, & shelving! It also features a built in audio/video system, dishwashing station, ADA accessible, alarm system, 2 bathrooms with a child changing area, private office area, and an outdoor storage shed. Take advantage of this opportunity to own a prime real estate location only 3blocks from the beach/boards. Take advantage now to be ready for the anticipated 2022 Summer Season! This building and business are absolutely ready to run your dream business! ** THIS PURCHASE INCLUDES THE REAL ESTATE, BUSINESS, AND ALL EQUIPMENT. POSSIBLE SELLER FINANCING IS AVAILABLE.**

Location

State NJ

County Cape May

Area Ocean City City (20508)

Zoning COMMERCIAL

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling Multi Units

Heat Source Electric

Exterior

Utilities Available Electric Available, Cable TV, Natural Gas Available, Phone, Sewer Available, Water Available

Water Access N

Accessibility No Stairs

Garage N

Building

Lot Description Other

Sewer Public Sewer

Water Community

New Construction N

Schools

Elementary Schools Ocean City

Middle Schools Ocean City Intermediate M.S.

High Schools Ocean City H.S.

School District Ocean City Schools

Others

Tax ID NO TAX RECORD

Ownership Fee Simple

SqFt Source Estimated

Security Features Fire Detection System,Sprinkler System - Indoor,Smoke Detector,Security System

Acceptable Financing Conventional, Cash, Other

Listing Terms Conventional, Cash, Other

Financing Conventional,Cash,Other

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Matthew Alan Peeke • Keller Williams Realty - Washington Township
Bought with Dorothy G Phillips • BHHS Fox & Roach Wayne-Devon

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Joanna Dieter

Agent | License ID: 665620

+1(410) 949-6855

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