408 7th Avenue, Asbury Park, NJ 07712
$2,750,000
Property Type:
Commercial
Square Footage:
9,817
Lot Size (sq. ft.):
9,278,280
Status:
Closed
Current Price:
$2,750,000
List Date:
12/05/2020
Last Modified:
2/06/2025
Description
Property operates as a 20 room motel on the top two floors; ground floor is dedicated to full-service dining and bar services. Property includes plenary 33 liquor license. Back lot 50 by 150 is used for off-street parking but is available for development.
Could be converted to a B&B, Multi-Family or Single Family property with variance.
More Information MLS# 22042383
Contract Info
Sale: Yes
Lease: No
List Price/SqFt: 417.64
New Construction: No
Status: Closed
List Date: 2020-12-05
Property Sub-Type: Commercial
Sold Price: $2,750,000
Current Price: $2,750,000
Location
Area/Section: N Asbury Pk
Other - See Remarks: 1
House Number: 408
Street Name: 7th
Street Suffix: Avenue
County: Monmouth
Municipality: Asbury Park (ASB)
Postal City: Asbury Park
State: NJ
Zip Code: 07712
Directions: Between Grand Ave. and Park Ave.
General Property Info
# Levels: 3
# Elevators: 0
Available SqFt: 9817
Acreage: 213
Lot Dimensions: 62 by 150; 50 by 150
Garage: No
# Car Garage: 0
Business Name: Hotel Tides Restaurant & Spa
Business Operating: Yes
Year Established: 2005
Franchise: No
Farm: No
Apx SqFt: 9817
Apx Year Built: 1920
Tax and Legal
Asmnt - Total: 1582099
Deed Restricted: No
Special Assessment: No
Taxes: 24860.55
Tax Year: 2020
Use
Bed & Breakfast: 1
Guest House: 1
Hotel/Motel: 1
Restaurant: 1
Zoning
Residential: 1
Lot Description
Multilot Sub: 1
Floors
Tile: 1
W/W Carpet: 1
Wood: 1
Electric
110 Volt: 1
Other - See Remarks: 1
Basement
Tenant Storage: 1
Gas
On Site: 1
Seat Capacity
60 - 99: 1
Water Heater
Other - See Remarks: 1
Heating
Other: 1
See Remarks: 1
Water
Public Water: 1
Sewer
Public Sewer: 1
Parking
On Street: 1
Open: 1
Unpaved: 1
Assessment Status
Assessed: 1
Construction/Siding
Clapboard: 1
Wood: 1
Roof
Flat: 1
Sale Includes
Business Name: 1
Equipment/Furniture: 1
Goodwill: 1
License: 1
Training by Owner: 1
Status Change Info
Under Contract Date: 2021-05-18
Sold Date: 2021-10-14
Sold Price: $2,750,000
Property Features
Location: Other - See Remarks; Other - See Remarks
Use: Bed & Breakfast; Guest House; Hotel/Motel; Restaurant
Floors: Tile; W/W Carpet; Wood
Basement: Tenant Storage
Seat Capacity: 60 - 99
Heating: Other; See Remarks
Water Heater: Other - See Remarks
Water: Public Water
Sewer: Public Sewer
Gas: On Site
Electric: 110 Volt; Other - See Remarks
Parking: On Street; Open; Unpaved
Roof: Flat
Sale Includes: Business Name; Equipment/Furniture; Goodwill; License; Training by Owner
Zoning: Residential
Lot Description: Multilot Sub
Assessment Status: Assessed
Listing Office:
Sitar Realty Company
Listing Agent:
Helena Loelius
Last Updated: February - 06 - 2025
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