726-730 Ocean Ave
Ocean City, NJ 08226
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Unmatched Investment Opportunity – Dual Hotel Portfolio in the Heart of Ocean City, NJ! Now available: a rare chance to acquire TWO established hospitality properties in one of the most coveted beach destinations on the East Coast! Located just steps from the Ocean City boardwalk and beaches, 724 Ocean Avenue and 617 E 8th Street are being offered as a combined hotel package — delivering prime location, proven cash flow, and substantial upside potential. 724 Ocean Avenue (The COVE Hotel): A classic shore hotel featuring 29 guest rooms (plus 10 additional bonus room to house staff), swimming pool, on-site parking, common living room, and on-site amenities — ideal for short-term rentals, group lodging, or seasonal stays. The Cove is newly renovated making it a turnkey opportunity. 617 E 8th Street (The BLUE WATER Inn): Just around the corner, this second hotel property adds 40 additional rentable units with a parking lot, which includes 32 hotel suites, 5 apartments and 3 currently leased commercial units, perfect for expanding occupancy and revenue. This hotel is one of the last moderately priced hotels and "value add" property available in Ocean City. Key Investment Highlights: • Prime boardwalk/beach-block location • Combined high-capacity lodging potential • Strong repeat guest base • Zoned for hospitality • Turnkey operation or value-add opportunity • Perfect for boutique hotel operators, group rental hosts, or portfolio investors Opportunities like this rarely come to market — own a piece of Ocean City’s thriving tourism economy with two centrally located hospitality assets that offer immediate income and long-term appreciation. Each hotel property (724 Ocean Ave & 617 E 8th St) is listed separately for sale. This offering is for your opportunity to buy as a package only while still available as a combo sale. Shown by appointment only. NDA and proof of funds required.
Last checked:
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Last updated May 12, 2025
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MLS# 596173 —
The Building
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New Construction:No
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Exterior:Shingle, Vinyl
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Storms/Screens:Screens
Interior
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Other Rooms:Laundry/Utility Rm, Living Room
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Basement:Slab
Financial & Terms
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Rental Information:See Remarks
Location
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Latitude:39.2785779012992
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Longitude:-74.5721976613769
The Property
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Location:See Remarks
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Block #:705
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Lot #:16 & 17
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Lot Dimensions:107x135 & 135x93
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Outside Features:In Ground Pool, Curbs, Porch, Sidewalks
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Driveway:Blacktop
Listing Agent
- Contact info:
- Office phone:
- (609) 513-1126
Heating & Cooling
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Heating:No Heating, Space/Wall/Floor
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Air Conditioning:Ceiling Fan(s), Window Units
Utilities
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Water:Public
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Water Heater:Gas
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Sewer:Public Sewer
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Separate Meters:Electric
Appliances
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Appliances:Dryer, Microwave, Refrigerator, Washer
The Community
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Adult Community/55+:No
Parking
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Parking:Three or More Cars
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Garage:None
Extra Units
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# of Units:69
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/12/25
May 12, 2025
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Listed / Active | SJSRMLS | $8,750,000 |
