$ 3,500,000
-
$3,500,000
Price -
0
Bed - Bath
-
121,000
SqFt
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About the Listing LEVIN1 - 3327233
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 Highlights for 125 S Dr Martin Luther King Blvd
Status
Active With Contingency
Days on Site
355
Property Type
Commercial Sale
MLS ®
NJAC2015286
Year Built
1929
Total Square Footage
121,000
Lot/Acreage
0.36
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central A/C
- Heating: 90% Forced Air,Zoned
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 105.00 x 151.00
- Zoning: Resort Commercial in the Tourism District
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $132,902
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
125 S Dr Martin Luther King Blvd Atlantic City, NJ 08401
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