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605 E 8th Street

Ocean City, NJ 08226
  • $999,000
  • STATUS: Active
  • ON SITE: 100 Days
  • MLS #: 220370
UPDATED: 64 min ago
$999,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,850
    SQFT
  • $540
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1905
Area:

School Ratings & Info

Description

ATTENTION INVESTORS AND RESTAURANT OWNERS!! A great opportunity to own one of the most successful Ocean City Restaurants, The Varsity Inn. This restaurant is an established, year-round, turn-key eatery, which has been a profitable business since 1969. This property has a history of guaranteed income netting an average of $146k annually. The restaurant is being sold with a full staff, full inventory, and the owner is willing to assist the new owner by staying employed during a transition phase after the sale. This spacious restaurant/property has interior seating for 84 and a total of 100 seats including exterior, when weather permits. In 2016 the Varsity Inn was reconstructed from the ground up. This corner property has been professionally outfitted from top to bottom with the best commercial grade kitchen equipment, display cases, beverage coolers, display racks, & shelving! It also features a built in audio/video system, dishwashing station, ADA accessible, alarm system, 2bathrooms, private office area, and an outdoor storage shed. Take advantage of this opportunity to own a prime real estate location only 3blocks from the beach/boards. Take advantage now to be ready for the anticipated 2022 Summer Season! This building and business are absolutely ready to run your dream business! ** THIS PURCHASE INCLUDES THE REAL ESTATE, BUSINESS, AND ALL EQUIPMENT. POSSIBLE SELLER FINANCING AVAILABLE**

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Listing information © 2022 Cape May County Association of REALTORS® Multiple Listing Service. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2022-05-24T12:49:59.16.
www.theoceansiderealtyteam.com/homes/125773590
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605 E 8th Street Ocean City, NJ 08226

  • Price: $999,000
  • Status: Active
  • On Site: 100 Days
  • Updated: 64 min ago
  • MLS #: 220370
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,850
SQFT
$540
$/SQFT
1905
Built
Neighborhood:
08-Ocean City
Area:
Ocean City
Property Description
ATTENTION INVESTORS AND RESTAURANT OWNERS!! A great opportunity to own one of the most successful Ocean City Restaurants, The Varsity Inn. This restaurant is an established, year-round, turn-key eatery, which has been a profitable business since 1969. This property has a history of guaranteed income netting an average of $146k annually. The restaurant is being sold with a full staff, full inventory, and the owner is willing to assist the new owner by staying employed during a transition phase after the sale. This spacious restaurant/property has interior seating for 84 and a total of 100 seats including exterior, when weather permits. In 2016 the Varsity Inn was reconstructed from the ground up. This corner property has been professionally outfitted from top to bottom with the best commercial grade kitchen equipment, display cases, beverage coolers, display racks, & shelving! It also features a built in audio/video system, dishwashing station, ADA accessible, alarm system, 2bathrooms, private office area, and an outdoor storage shed. Take advantage of this opportunity to own a prime real estate location only 3blocks from the beach/boards. Take advantage now to be ready for the anticipated 2022 Summer Season! This building and business are absolutely ready to run your dream business! ** THIS PURCHASE INCLUDES THE REAL ESTATE, BUSINESS, AND ALL EQUIPMENT. POSSIBLE SELLER FINANCING AVAILABLE**
Exterior Features

Location Business District Lot Size 41.5X50

Interior Features

Cooling Electric Flooring Linoleum/Vinyl Heating ElectricGas Natural Interior Features Fire Sprinkler SystemRestroomSecurity SystemSmoke/Fire AlarmStorage Specialty Rooms Office Space AvailPublic Restroom

Property Features

Available Entertaining SpaceEquipmentFixturesFurnishingsIncome Expense InfoInventoryRefrigeration/Freezer Bank Owned No Beach Proximity 3 Blocks Commercial Type Commercial/Industrial Financing Available ConventionalOther Financing New Construction No Possession At Closing Sale Or Rent For Sale Sewer CityPublic Subject To Third Party Approval No Tax Year 2021 Taxes 2963 Total Assessment 292200 Type CommercialRestaurant/Bar Water CityPublic Zoned Commercial

© 2022 Cape May County Association of REALTORS® MLS. All Rights Reserved.
Listing provided courtesy of Keller Williams Realty - Washington Twp.


Listing information © 2022 Cape May County Association of REALTORS® Multiple Listing Service. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2022-05-24T12:49:59.16.
 
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