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Listed by Joshua Levin • Levin Commercial Real Estate, LLC.
$ 3,900,000
Est. payment /mo
Active
125 S DR MARTIN LUTHER KING BLVD Atlantic City, NJ 08401
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID NJAC2025876
Year Built 1929
Tax Year 2026
Lot Size 0.364 Acres
Acres 0.36
Lot Dimensions 105.00 x 151.00
Property Sub-Type Other
Source BRIGHT
Property Description
The Madison Hotel represents one of Atlantic City's most compelling redevelopment opportunities. Offered at $3,900,000, this iconic thirteen-story landmark combines an irreplaceable beach block location with an existing 126-suite layout, substantial building infrastructure, and access to numerous redevelopment incentive programs. Positioned within an Opportunity Zone and designated redevelopment area, the property is ideally suited for a visionary developer seeking to capitalize on Atlantic City's continued resurgence.
Unlike many redevelopment opportunities, the groundwork has already begun. A previous contract purchaser invested considerable time evaluating the property's redevelopment potential, including clearing much of the building and reconfiguring the fourth floor to demonstrate a modern residential floor plan. While the next owner will ultimately determine the highest and best use, these efforts provide valuable insight into the building's adaptability while reducing some of the early planning required for a project of this scale.
Unlike many redevelopment opportunities, the groundwork has already begun. A previous contract purchaser invested considerable time evaluating the property's redevelopment potential, including clearing much of the building and reconfiguring the fourth floor to demonstrate a modern residential floor plan. While the next owner will ultimately determine the highest and best use, these efforts provide valuable insight into the building's adaptability while reducing some of the early planning required for a project of this scale.
Location
State NJ
County Atlantic
Area Atlantic City (20102)
Zoning RS-C
Interior
Hot Water Natural Gas
Cooling Central A/C
Heat Source Natural Gas, Electric
Exterior
Water Access N
Accessibility Elevator, Ramp - Main Level
Road Frontage City/County
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Atlantic City Schools
Others
Tax ID 02-00048-00009
Ownership Fee Simple
Security Features Fire Detection System,Sprinkler System - Indoor,Smoke Detector
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
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