Property details
NJ Hotels For Sale, Northeast Region
Property Description
NJ Hotels For Sale
355 keys on 12 floors.
There is a 9,900 square foot ballroom.
Major renovation completed in 2006.
PIP required in 2019.
Local union 7 employees
$40,032,000
2017 NOI = $2,236,030.89 = Cap 5.6%
2018 budget NOI = $2,579,398 = 6.4% Cap
This is an off-market, confidential, controlled and deliverable property.
This property is priced Net To Owner. Buyer is responsible for a 3.00% brokerage fee.
This is an off-market, confidential property.
This property is priced Net To Owner.
Buyer is responsible for a 3.00% brokerage fee.
412 keys on 10 floors
Total of $12m in renovations have been completed of which $3m was required for the flag change
Purchase price is $28,004,000.
There is approximately 10K square feet of banquet/meeting and event space
Hotel has a tenanted restaurant.
Local union 206 employees.
2017 NOI = $1,374,795 Cap 4.9%
2018 NOI = $1,393,465 = Cap 5%
This is an off-market, confidential property.
This property is priced Net To Owner.
Buyer is responsible for a 3.00% brokerage fee.
260 keys
10 Floors.
Meeting space of 4,000 square feet
There are two tenanted restaurants in the hotel.
A full renovation of $8,000,000 was completed in 2013.
Purchase price is $25,125,700
2017 NOI = $1,599,460 Cap 6.4%
2018 NOI = $1,404,233 = Cap 5.6%
This is an off-market, confidential property.
This property is priced Net To Owner.
Buyer is responsible for a 3.00% brokerage fee.
221 keys
Recently renovated with over $6,000,000 in renovation costs including the PIP's.
The lobby, restaurant, parking lot, meeting and convention space, the front desk area were all re-done.
There are no PIP's pending.
This is the number 1 hotel in the region for revenue growth & guest service
Price: $30,147,322.
2017 NOI = $2,622,817 -- Cap 8.7 %
2018 NOI = $2,601,644 = Cap 8.6%
This is an off-market, confidential property.
This property is priced Net To Owner.
Buyer is responsible for a 3.00% brokerage fee.
Images
Highlights
- Status:
- Available
- Price:
- $40,032,000
- Cap Rate:
- 6.40%
Property Information
- Property Type:
- Hotel
- Industry Type:
- Hotel - Motel - Inn
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.