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Listed by Joshua Levin • Levin Commercial Real Estate, LLC.
$3,900,000
Est. payment /mo
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID NJAC2025876
Year Built 1929
Tax Year 2026
Lot Size 0.364 Acres
Acres 0.36
Lot Dimensions 105.00 x 151.00
Property Sub-Type Other
Source BRIGHT
Property Description
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.
Location
State NJ
County Atlantic
Area Atlantic City (20102)
Zoning RS-C
Interior
Hot Water Natural Gas
Cooling Central A/C
Heat Source Natural Gas, Electric
Exterior
Water Access N
Accessibility Elevator, Ramp - Main Level
Road Frontage City/County
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Atlantic City Schools
Others
Tax ID 02-00048-00009
Ownership Fee Simple
Security Features Fire Detection System,Sprinkler System - Indoor,Smoke Detector
Special Listing Condition Standard
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Nearby School & Business
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