13801 Coastal Hwy - Hospitality FOR SALE


Ocean City, MD 21842
$33,000,000 USD
949-942-6200
13801 Coastal Hwy, Ocean City, MD for Sale
$33,000,000 USD
Hospitality - FOR SALE
1/1
null | 6.67% Cap Rate

13801 Coastal Hwy
Ocean City, MD 21842


HIGHLIGHTS

  • 201 Room Coastal Hotel — Established independent hotel with 201 rooms and stable in place cash flow.
  • Prime Ocean City Location — Exceptional Coastal Highway frontage, just one block from the beach in a supply constrained resort market.
  • Renovated with Upside — Recently renovated property offering current income plus opportunities for operational growth, repositioning and long term red

OVERVIEW

201-room independent coastal hotel located on Coastal Highway in Ocean City, Maryland, one block from the beach. Fenwick Inn offers a recently renovated physical plant, established operations and strong coastal market positioning. The property is being offered at $33,000,000, representing an approximately 6.7% going-in capitalization rate based on in-place NOI. The opportunity offers investors current cash flow with additional upside through continued operational improvements, potential branding/repositioning and the long-term value of the underlying coastal site. Qualified buyers are encouraged to submit offers and schedule property tours. Confidentiality and additional due diligence materials are available to qualified parties.

FOR SALE DETAILS

PRICE

$33,000,000 USD

PRICE/SF

$289 USD /SF

# OF ROOMS

201

PRICE/ROOM

$164,179 {currency}

CAP RATE

6.67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fenwick Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

7

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1975

PARKING SPACES

188

LAND DETAILS

LAND ACRES

2.37 AC

LAND SF

103,237 SF

ZONING

LC-1

APN/PARCEL ID

10-170257

ASK ABOUT THIS PROPERTY

Joseph BatresGraystone Capital AdvisorsMore Info
949-942-6200

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Joseph BatresGraystone Capital AdvisorsMore Info
949-942-6200

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