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605 E 8TH STREET , D

OCEAN CITY, NJ 08226
  • $699,900
  • STATUS: Active
  • ON SITE: 138 Days
  • MLS #: NJCM2000696
UPDATED: 17 min ago
$699,900
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1905
County:

School Information

Elementary School:
High School:
School District:

Description

ATTENTION INVESTORS AND RESTAURANT OWNERS!! A great opportunity to own one of the most successful Ocean City Restaurants, TheVarsity Inn!! This restaurant is an established, year-round, turn-key eatery, which has been a profitable business since 1969. This property has a history of guaranteed income netting an average of $146k annually. The restaurant is being sold with a full staff, full inventory, and the owner is willing to assist the new owner by staying employed during a transition phase after the sale. This spacious restaurant/property has interior seating for 84 and a total of 100 seats including exterior, when weather permits. In 2016 the Varsity Inn was reconstructed from the ground up. This corner property has been professionally outfitted from top to bottom with the best commercial grade kitchen equipment, display cases, beverage coolers, display racks, & shelving! It also features a built in audio/video system, dishwashing station, ADA accessible, alarm system, 2 bathrooms with a child changing area, private office area, and an outdoor storage shed. Take advantage of this opportunity to own a prime real estate location only 3blocks from the beach/boards. Take advantage now to be ready for the anticipated 2022 Summer Season! This building and business are absolutely ready to run your dream business! ** THIS PURCHASE INCLUDES THE REAL ESTATE, BUSINESS, AND ALL EQUIPMENT. POSSIBLE SELLER FINANCING IS AVAILABLE.**

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty. 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. Data last updated: 2022-06-26T19:49:50.343.
www.sellwithsikora.com/homes/125480069
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605 E 8TH STREET , D OCEAN CITY, NJ 08226

  • Price: $699,900
  • Status: Active
  • On Site: 138 Days
  • Updated: 17 min ago
  • MLS #: NJCM2000696
0
Beds
0
Baths
0
½ Baths
0.05
Acres
1905
Built
Neighborhood:
Ocean City City (20508)
County:
Cape May
Area:
Ocean City City (20508)
Elementary School:
Ocean City
Middle School:
Ocean City Intermediate M.S.
High School:
Ocean City H.S.
School District:
Ocean City Schools
Property Description
ATTENTION INVESTORS AND RESTAURANT OWNERS!! A great opportunity to own one of the most successful Ocean City Restaurants, TheVarsity Inn!! This restaurant is an established, year-round, turn-key eatery, which has been a profitable business since 1969. This property has a history of guaranteed income netting an average of $146k annually. The restaurant is being sold with a full staff, full inventory, and the owner is willing to assist the new owner by staying employed during a transition phase after the sale. This spacious restaurant/property has interior seating for 84 and a total of 100 seats including exterior, when weather permits. In 2016 the Varsity Inn was reconstructed from the ground up. This corner property has been professionally outfitted from top to bottom with the best commercial grade kitchen equipment, display cases, beverage coolers, display racks, & shelving! It also features a built in audio/video system, dishwashing station, ADA accessible, alarm system, 2 bathrooms with a child changing area, private office area, and an outdoor storage shed. Take advantage of this opportunity to own a prime real estate location only 3blocks from the beach/boards. Take advantage now to be ready for the anticipated 2022 Summer Season! This building and business are absolutely ready to run your dream business! ** THIS PURCHASE INCLUDES THE REAL ESTATE, BUSINESS, AND ALL EQUIPMENT. POSSIBLE SELLER FINANCING IS AVAILABLE.**
Exterior Features

Construction Materials BlockConcreteVinyl Siding Garage YN No Location Type Downtown Lot Features Other Parking Types None Property Condition Very Good Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 1850.00 Cooling Multi Units Exclusions The Shed And Dumpster Are Rented. The New Owner Has The Option Of Continuing With The Lease Agreement. Heating Forced Air Heating YN Yes Inclusions All AppliancesWindow FixturesShelvingInventoryAnd Restaurant Equipment Contained On Site. Net Square Feet 2100.00 Security Features Fire Detection SystemSprinkler System - IndoorSmoke DetectorSecurity System

Property Features

Acceptable Financing ConventionalCashOther Accessibility Features No Stairs Assessment Year 2021 Association Expense 275.00 Business Type Restaurant/Bar Central Air YN No Cooling Fuel Electric Cross Street Ocean Avenue Elevator Use Fee 0.00 Heating Fuel Electric Historic YN No Hot Water Natural Gas Internet Services Cable Lease Considered YN No Municipality Ocean City City Navigable Water YN N New Construction YN No Original MLSNumber 801327587382 Owner Pays All UtilitiesAssociation FeesCable TvTaxes - Real EstateTrash CollectionSewer Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 2963.75 Tax Assessment Amount 292900.00 Tax Lot 2 Utilities Electric AvailableCable TvNatural Gas AvailablePhoneSewer AvailableWater Available Vacation Rental YN No Water Source Community Year Built Effective 2016 Zoning Commercial

Listing courtesy of Keller Williams Realty - Washington Township.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty. 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. Data last updated: 2022-06-26T19:49:50.343.
 
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28 Valley Rd Suite 1
Montclair NJ, 07042