1271 US Highway 22 - Hospitality FOR SALE


Bridgewater, NJ 08807
$6,000,000 USD
732-492-7666
1271 US Highway 22, Bridgewater, NJ for Sale
$6,000,000 USD
Hospitality - FOR SALE
1/16
null | Request Cap Rate

1271 US Highway 22
Bridgewater, NJ 08807


HIGHLIGHTS

  • 1271 US Highway 22 presents the former Bridgewater Inn, a 33,592 SF, two-building motel site and an office building primed for redevelopment.
  • Zoned HIC and C3 for Highway Interchange Commercial Zone and Office and Service Zone.
  • Premier access and visibility being directly off US Highway 22 which sees nearly 100,000 vehicles passing daily.
  • Additional lots are included in the sale for a total of 5.92 acres ready for repurposing.

OVERVIEW

1271 US Highway 22 proudly presents the unique retirement sale of the Bridgewater Inn, ready for redevelopment. The retired motel building spans 33,592 square feet and, with its current zoning, is permitted to be converted to professional offices, medical offices, an assisted living facility, adult daycare, hotels, banks, services stations, personal services uses, and more. The subject property is improved with two two-story motel buildings, each containing a basement, and a one-story office building with a basement. The interior of the motel buildings consists of individual rooms with bathrooms on the first and second floors and storage, maintenance, and utility areas in the basement. The office building consists of office spaces, bathrooms, and storage areas. The exterior portions of the property consist of concrete sidewalks, asphalt and gravel paved parking areas, landscaped areas, and wooded undeveloped land. A summary of the current adjacent land use is as follows: North – Route 287 and undeveloped wooded land. South – US Highway 22 followed by commercial properties. East – closed Red Lobster restaurant. West – Health of Endocrine and Commercial properties. This site, with 112 motel rooms, sits on 5.92 acres and is in the center of Somerset County of Route 22, with high visibility, good access, and a daily traffic count of nearly 100,000 vehicles passing daily. The area's median household income exceeds $115,653 within five miles. Easy access to all arterial routes such as Interstate 287, 78, and the Turnpike. The site is also just minutes from Bridgewater Commons Mall and Chimney Rock Crossing Mall in an affluent neighborhood with a sizeable population employed by Fortune 500 companies. Inquire today for more information; ideally, sellers are looking for quick closing and a cash buyer.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$179 USD /SF

# OF ROOMS

112

PRICE/ROOM

$53,571 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bridgewater Inn | Redevelopment Opp.

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

94

LAND DETAILS

LAND ACRES

5.92 AC

LAND SF

257,875 SF

ZONING

HIC and C-3

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jackie TsaiJackie 888More Info
732-492-7666

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Jackie TsaiJackie 888More Info
732-492-7666

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.