148 Route 181 - Apartments FOR SALE


Lake Hopatcong, NJ 07849
$2,100,000 USD
973-347-3700
148 Route 181, Lake Hopatcong, NJ for Sale
$2,100,000 USD
Apartments - FOR SALE
1/29
null | Request Cap Rate

148 Route 181
Lake Hopatcong, NJ 07849


OVERVIEW

FORMER MOTEL DIRECTLY ACROSS THE STREET FROM ICONIC LAKE HOPATCONG WITH UNOBSTRUCTED LAKE VIEWS; ZONED C1 NEIGHBORHOOD BUSINESS ZONE, C2 HIGHWAY BUSINESS ZONE: (AS PER JEFFERSON TWP CODE BOOK: RESTAURANT/NIGHT CLUB/RETAIL/HOTEL/MOTEL/SHORT-TERM RENTAL/MARINA/SERVICE GARAGE/CANNABIS RETAIL, SEE DOCUMENTS FOR ADDITIONAL INFORMATION & OPPORTUNITIES) Rare opportunity to own a highly visible Morris County property in one of New Jersey's premier recreational destinations. Positioned across the street from public marinas, waterfront restaurants, wedding venue, this location benefits from the energy and attraction of the vibrant year-round lake community that continues to draw visitors, boaters, vacationers, and full-time residents alike. Located less than 50 miles from NYC and approximately 45 minutes to Mountain Creek Resort and the Delaware Water Gap National Recreation Area, the property is ideally situated near some of the region's top recreation, tourism, dining, and entertainment destinations. Lake Hopatcong, spanning over 2,600 acres, remains one of the most recognized and active lake communities in the state, creating strong long-term potential for well-positioned properties in the area. A unique opportunity in a prime lake-view setting with exceptional visibility, accessibility, and future possibilities. Currently 9 buildings/24 units. Vacant, NO ACCESS, STRICTLY SOLD AS-IS, WHERE-IS. Buyer to do Due Diligence regarding usage/zoning. Agent Remarks: BB to pay $150RF Mortgage Services Corp tech/mgmt fee. All offers must be emailed w/purchase agreement/proof of funds/disclosures countersigned/proof of earnest money deposit. Property sold in "as-is condition dimensions/information are approximate & buyer/representation responsibility to verify

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

24

PRICE/UNIT

$87,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

PARKING SPACES

21

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

C-2

APN/PARCEL ID

14-00320-01-00003

ASK ABOUT THIS PROPERTY

Stacey MichelmanRealty Executives Exceptional REALTORSMore Info
973-347-3700

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Stacey MichelmanRealty Executives Exceptional REALTORSMore Info
973-347-3700

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