125 S DR MARTIN LUTHER KING BLVD, ATLANTIC CITY, NJ 08401
125 S DR MARTIN LUTHER KING BLVD, ATLANTIC CITY, NJ 08401
$3,500,000
Sq. Ft.: N/A
Type: Commercial
Listing #NJAC2015286
Listing Courtesy of: Levin Commercial Real Estate, LLC. (609) 344-5200
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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.
Listing Courtesy of: Levin Commercial Real Estate, LLC. (609) 344-5200
Property Features
County: ATLANTIC-NJ
Municipality: ATLANTIC CITY
Latitude: 39.35844055
Longitude: -74.43016851
MLS Area: Atlantic City (20102)
Directions: Beach Block (125 S Dr Martin Luther King Blvd)
Heating: 90% Forced Air, Zoned
Heating Fuel: Natural Gas, Electric
Cooling: Central A/C, Electric
Water Heater: Natural Gas
Accessibility: Elevator, Ramp - Main Level
Is New Construction: No
Construction: Brick, Masonry
Septic or Sewer: Public Sewer
Security Features: Fire Detection System, Sprinkler System - Indoor, Sm
Has Garage: No
Parking Spaces: 0
Site Description: Free Standing
Lot Size in Acres: 0.36
Lot Size in Sq. Ft.: 15,855
Dimensions: 105.00 x 151.00
Zoning: RS-C
Building Total Area (Sq. Ft.): 121,000
Has Waterfront: No
Has Water Access: No
School District: ATLANTIC CITY SCHOOLS
ListDate: 2024-11-14 00:00:00.0
Possession: Settlement
Property Type: COM
Property SubType: Other
Year Built: 1929
Status: Active
Tax Year: 2024
Tax Amount: $132,902
Ownership Interest: Fee Simple
Business Type: HotelMotel
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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Rivera Realty participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Rivera Realty are marked with the IDX icon, and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Home sale information is not to be construed as an appraisal and may not be used as such for any purpose. BRIGHT MLS is a provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Information Deemed Reliable But Not Guaranteed.
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Rivera Realty participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Rivera Realty are marked with the IDX icon, and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Home sale information is not to be construed as an appraisal and may not be used as such for any purpose. BRIGHT MLS is a provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Information Deemed Reliable But Not Guaranteed.
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