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Under Contract Opportunity Zone

The Madison Hotel: Georgian Revival Building on Beach Block

Hospitality

Listing Contacts

Under Contract

Property is under contract
Address 

125 S Dr Martin Luther King Blvd, Atlantic City, NJ 08401

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Date Added
Nov 14, 2024
Days on Market
124 days
Time Since Last Update
7 days

Details

Property TypeHospitality
SubtypeHotel
Square Footage121,000
Year Built1929
Year Renovated2004
Buildings1
Stories13
ZoningRS-C
Lot Size (acres)0.36

Marketing Description

Welcome to the Madison Hotel.​ This building has graced the Atlantic City Skyline for generations and is aggressively priced to let the next owner bring it into the future.​ Thirteen stories located on the Beach Block right in the Center of Town.​ First floor common area contains a Beautiful Large Bar area off the Lobby, Dining room serviced by a commercial kitchen and a Grand Staircase.​ Second floor contains meeting rooms, executive offices and rentable suites.​ Floors 3-4 & 6-12 contain an existing 11 suite layout proving 99 suites over nine floors.​ According to public record in 2004 Sands Casino invested Seven Million Dollars into the Madison creating 126 Suites to complement their neighboring hotel/casino.​ The 2004 renovation combined two original rooms creating larger living spaces, some with two full baths.​

The building closed a few years ago and was shut down and boarded up.​ Renovations and updating need to take place.​ Asking $27,777.777 per door.​ This is a doable project and the triple 7's tell you all you need to know! Located in the Federal Opportunity Zone with possible State and Federal Historic Tax Credits Available.​

The neighboring Parking Garage is owned by someone else.​ No information on the garage is available at the time this offering went to market.​

Investment Highlights

  • Thirteen stories located on the Beach Block right in the Center of Town.

  • First floor common area contains a Beautiful Large Bar area off the Lobby, Dining room serviced by a commercial kitchen and a Grand Staircase.

  • Second floor contains meeting rooms, executive offices and rentable suites.

  • Floors 3-4 & 6-12 contain an existing 11 suite layout proving 99 suites over nine floors.

  • According to public record in 2004 Sands Casino invested Seven Million Dollars into the Madison creating 126 Suites to complement their neighboring hotel/casino.

  • The 2004 renovation combined two original rooms creating larger living spaces, some with two full baths.

  • Located in the Federal Opportunity Zone with possible State and Federal Historic Tax Credits Available.

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