355 Hotel for Sale in NJ

New Jersey, with its rich history, diverse landscapes, and proximity to major cities like Manhattan, has become a thriving hub for tourism and business. Amidst this vibrant backdrop, an exciting prospect awaits savvy investors: a 355-room full-service hotel boasting 3-4 star accommodations, strategically located within 15 minutes from Manhattan. This article delves into the key features of this remarkable property, which presents a rare chance to acquire a lucrative investment at an asking price of 126-127k per key, situated on 7 acres of prime real estate with additional development opportunities. Read on to explore the potential this remarkable hotel holds and the reasons why it is offered at the replacement cost.

A Hotel at the Heart of Convenience:

Location is everything in the hospitality industry, and this 355-room hotel hits the jackpot. Situated in the heart of New Jersey, the property's easy accessibility to Manhattan is a major draw for both leisure and business travelers. The hotel is ideally positioned to cater to those looking for a serene retreat from the city's hustle and bustle while providing easy access to its vibrant attractions.

Exceptional Features:

The hotel boasts a range of features that sets it apart in the market. With 80 percent occupancy already achieved, the hotel enjoys a solid foundation of business. The 20,000 sq. ft. of meeting space, perfect for weddings, events, and corporate functions, ensures a steady stream of revenue from both local and out-of-state clients. The business room caters to corporate travelers, while the outdoor pool is a delightful addition for leisure guests seeking relaxation.

Untapped Potential: Development Opportunities:

A notable advantage of this investment is the significant 7-acre land parcel that accompanies the hotel. Investors have the opportunity to explore various development possibilities that can further enhance the property's value and diversify revenue streams. Whether expanding on existing amenities or adding new attractions, the development potential makes this a promising venture for the future.

Pricing at Replacement Cost:

You might wonder why a hotel with such potential is available at the replacement cost. The reasoning behind this asking price lies in the seller's motivation to ensure a seamless transaction. Selling at replacement cost means that the hotel's price is based on the cost to build a similar property from scratch. This approach allows the seller to move forward without any financial loss while presenting investors with an attractive opportunity to acquire a fully operational, profitable hotel without the additional costs of building from the ground up.

Revenue Projections:

Projected to generate an impressive $16 million in gross income in 2023, the hotel's revenue outlook is robust. Given its existing 80 percent occupancy rate, there is ample room for growth, which further enhances the investment's appeal. The hotel's prime location, combined with the planned expansion, is likely to attract even more guests, making it a lucrative venture for potential investors.

Conclusion:

With its prime location, impressive amenities, and abundant development opportunities, this 355-room hotel in New Jersey presents a rare and enticing investment prospect for astute investors. Offering a seamless transaction at the replacement cost and projected to generate substantial income, this full-service hotel embodies the essence of a successful investment in the flourishing hospitality market. Don't miss out on this exclusive chance to capitalize on the thriving New Jersey hospitality industry and secure your stake in this remarkable venture.