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The Madison Hotel Boardwalk Atlantic City 125 S Dr Martin Luther King Blvd 126 Room Hotel Atlantic City, NJ 08401 $5,501,730 CAD ($43,665 CAD/Room)
Investment Highlights
- Thirteen stories located on the Beach Block right in the Center of Town
- Dining room serviced by a commercial kitchen and a Grand Staircase
- Floors 3-4 & 6-12 contain an existing 11 suite layout proving 99 suites over nine floors
- First floor common area contains a Beautiful Large Bar area off the Lobby
- Second floor contains meeting rooms, executive offices and rentable suites
- According to public record in 2004 Sands Casino invested seven million dollars into the Madison creating 126 Suites to complement their hotel/casino
Executive Summary
Welcome to the Madison Hotel. This building has graced the Atlantic City Skyline for generations and is aggressively priced to let the next owner bring it into the future. Thirteen stories located on the Beach Block right in the Center of Town. First floor common area contains a Beautiful Large Bar area off the Lobby, Dining room serviced by a commercial kitchen and a Grand Staircase. Second floor contains meeting rooms, executive offices and rentable suites. Floors 3-4 & 6-12 contain an existing 11 suite layout proving 99 suites over nine floors. According to public record in 2004 Sands Casino invested Seven Million Dollars into the Madison creating 126 Suites to complement their neighboring hotel/casino. The 2004 renovation combined two original rooms creating larger living spaces, some with two full baths.
The building closed a few years ago and was shut down and boarded up. Renovations and updating need to take place. Asking $27,777.777 per door. This is a doable project and the triple 7's tell you all you need to know! Located in the Federal Opportunity Zone with possible State and Federal Historic Tax Credits Available. The neighboring Parking Garage is owned by someone else. No information on the garage is available at the time this offering went to market.
The building closed a few years ago and was shut down and boarded up. Renovations and updating need to take place. Asking $27,777.777 per door. This is a doable project and the triple 7's tell you all you need to know! Located in the Federal Opportunity Zone with possible State and Federal Historic Tax Credits Available. The neighboring Parking Garage is owned by someone else. No information on the garage is available at the time this offering went to market.
Property Facts
| Price | $5,501,730 CAD | Building Size | 121,000 SF |
| Price Per Room | $43,665 CAD | No. Rooms | 126 |
| Sale Type | Investment | No. Stories | 14 |
| Property Type | Hospitality | Year Built/Renovated | 1929/2004 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.36 AC | ||
| Zoning | RS-C - Resort Commercial | ||
| Price | $5,501,730 CAD |
| Price Per Room | $43,665 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 121,000 SF |
| No. Rooms | 126 |
| No. Stories | 14 |
| Year Built/Renovated | 1929/2004 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | RS-C - Resort Commercial |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $167.87 CAD | - |
| Guest Room | 124 | $146.71 CAD | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 02-00048-0000-00009 | Improvements Assessment | $1,904,445 CAD |
| Land Assessment | $1,763,375 CAD | Total Assessment | $3,667,820 CAD |
Property Taxes
Parcel Number
02-00048-0000-00009
Land Assessment
$1,763,375 CAD
Improvements Assessment
$1,904,445 CAD
Total Assessment
$3,667,820 CAD
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The Madison Hotel Boardwalk Atlantic City | 125 S Dr Martin Luther King Blvd
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