Sanjay Gupta
Hospitality Asset Sale Specialist and Advisor
Phone 973-244-5997
Fax 973-244-5998

Flag With Times Commercial Realty

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Approved Hotel Site for Sale in New Jersey

South Jersey site approved to build 70 rooms. The site is close to major governmental establishments.

Asking price 1,500,000 Reduced to $999,999.

  • The Site is over 2 acres in South Jersey and approved to build a 70 room hotel.
  • Hilton or Marriott brand suggested for 95 rooms owner would cooperate with the approvals.
  • Major governmental establishment in the city.
  • Close to international airport.
  • Site excavation done and construction pad is ready.
  • All the utilities up to the site.
  • Location good for Marriott or Hilton brand and the room count can be expanded to about 95.
  • City only has Marriott and Hilton brand hotels.
  • Construction loan for the site already approved and available to the qualified buyer.
  • Property has 5 years tax abatement

Expected ADR for 2012, Occupancy Rate and RevPar for newly constructed hotel in the town where the site is :

  ADR Occ RevPar
Mid Market brand $89 73% $65
Hilton/Marriott brand $119 87% $103

 

Detailed financial package available to qualified and serious buyers only.