Roman Holiday Condo/Hotel

Roman Holiday
North Wildwood, NJ
Representative Photo
Roman Holiday
Condo/Hotel
North Wildwood, NJ
1000 Kennedy Beach Drive
$4,900,000
CAP: 6.63% NOI: 324,913
•26 Condo-tel Units And Rights To Condo And Management Fees On Non-Owned Units For Sale
•Unparalleled Beachfront Location
•Opportunity To Purchase 26 Units At Discount And Re-sell Units Individually
•Unleveraged IRR Is 35.4% if the 26 Units are re-sold for 10% less than current ask over next 3 years
•Unleveraged IRR Is 20.6% if the 26 Units are re-sold for 20% less than current ask over next 3 years
•Property Located In North Wildwood, Named One Of The Best Beaches On New Jersey Shore
•Over 407,000 People Live Within 60 Minutes Of This Vacation Destination
Phone:
212-972-7457
•4 Story Operating Condo-tel With Pool Area And Sun Deck
Fax:
212-686-0078
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Email:
Website:
exp@exp1031.com
www.exp1031.com
Roman Holiday
1000 Kennedy Beach Drive
(INTERSECTION OF JOHN F. KENNEDY BLVD AND
10TH
AVENUE)
PROPERTY SUMMARY:
This investment opportunity consists of 26 units (out of a total of 51) located in the
beachfront condominium-hotel (condotel) resort community Roman Holiday - one of the
premier properties in North Wildwood, New Jersey. The building is 23,000 square feet,
not including any common areas such as balconies, sun decks, pool area, etc. The square
footage of the units being sold is 10,895 square feet. This newly renovated oceanfront
resort is a popular vacation destination for those seeking ocean views, a relaxing family
environment and lasting memories. Roman Holiday has an unparalleled beachfront
location, is a 5 minute walk to the world famous Wildwood boardwalk, 20 minute drive to
historic Cape May, 40 minute drive to Atlantic City and 1 hour and 30 minutes drive to
Philadelphia. Amenities include: large heated pool, kiddie pool, color cable TV (with free
HBO), kitchenettes, daily courteous maid service, full size refrigerators in all rooms,
elevator, full air conditioning, laundry facilities, free ice and gas barbecue, spacious
oceanfront sundeck, pool cabanas, lounge chairs and patio tables, crib rental, free parking
and proximity to tennis courts and golf range. The property operates May 1st through
October 15th.
North Wildwood, NJ
List Price:
$4,900,000
Cap Rate:
6.63%
Building Area:
10,895 SF
$ / PSF:
$449.75
Total Building Area:
23,000
Ownership:
Fee Simple Ownership Of
26 Condo Units
NOI:
$324,913
Financing:
This Property Is Offered
Free And Clear Of Debt
INVESTMENT SUMMARY:
This property offers the investor the opportunity to: 1) purchase 26 units at a discount to
market value and re-sell those units individually; 2) collect management and condo fees
from the owners of the non-owned units and 3) collect rental income on the owned units.
This investment should yield a cash return of 6.63% year one and an unleveraged IRR of
34.3% if the units are sold out over the next three years at a 10% discount to ask price. If
units are sold over 3 years at a 20% discount to ask price IRR is 19.6%. Individuals who
buy the units are not allowed to sell them until the sponsor sells all of the remaining units,
protecting the investor from inter-building competition. They can however defray cost by
renting out their unit exclusively through the management company, which is selected by
the investor.
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Photo From Balcony
Roman Holiday
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Exterior Photo And Aerial
Roman Holiday
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Aerial of Subject Property
Roman Holiday
North Wildwood, NJ
Subject Property
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Unit Floor Plan
Roman Holiday
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Building Floor Plan
Roman Holiday
Available Units Are Highlighted In Red
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Building Floor Plan
Roman Holiday
Available Units Are Highlighted In Red
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Location Map
Roman Holiday
North Wildwood, NJ
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
Roman Holiday
90 Minute Drive Time Map
North Wildwood, NJ
Philadelphia
Newark
Atlantic City
Cape May
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
5-10-20-30-45-60 Minute Drive Time
Demographic Data
Roman Holiday
North Wildwood, NJ
5 Minutes
10 Minutes
20 Minutes
30 Minutes
45 Minutes
60 Minutes
Total Population
8,774
16,253
50,186
78,335
181,509
407,346
Male Population
47.4%
47.1%
47.0%
47.4%
48.6%
48.6%
Female Population
52.6%
52.9%
53.1%
52.6%
51.4%
51.4%
44.8
45.7
44.9
43.5
41.4
39.1
3,269.0
1,764.6
493.5
393.7
394.0
410.4
7,586
14,108
39,343
49,994
105,438
249,675
779
1,427
3,842
5,056
10,509
18,467
Median HH Income
$35,857
$38,362
$46,023
$49,578
$53,782
$52,550
Per Capita Income
$25,903
$30,160
$35,118
$34,830
$33,555
$29,626
Average HH Income
$47,990
$56,324
$68,988
$71,161
$74,261
$70,811
4,680
8,728
24,475
36,639
77,883
162,849
1.86
1.85
1.99
2.07
2.23
2.42
11.8%
13.6%
11.8%
12.6%
11.0%
11.5%
Owner Occupied Housing Units
17.8%
19.7%
31.4%
35.4%
41.4%
46.5%
Renter Occupied Housing Units
14.3%
13.0%
12.4%
11.5%
13.9%
20.9%
Vacant Housing Units
67.8%
67.3%
56.2%
53.1%
44.7%
32.6%
White
86.2%
86.6%
88.8%
89.8%
79.9%
71.0%
Black
7.7%
7.5%
7.4%
6.7%
11.9%
14.6%
American Indian, Eskimo, Aleut
0.1%
0.1%
0.2%
0.2%
0.1%
0.2%
Asian
0.3%
0.3%
0.4%
0.3%
2.2%
4.8%
Hawaiian or Pacific Islander
0.2%
0.1%
0.1%
0.1%
0.1%
0.1%
Other
3.6%
3.5%
1.7%
1.6%
3.4%
6.2%
Multirace
1.9%
1.9%
1.6%
1.4%
2.4%
3.1%
Population: 2008
Median Age
Population Density (per sq. mi.)
Employees
Establishments
Income: 2008
Households: 2008
Total Households
Average Household Size
Household Growth 1990 - 2000
Housing: 2008
Race: 2008
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com
5-10-20-30-45-60 Minute Drive Time
Demographic Graphs
Roman Holiday
North Wildwood, NJ
Contact Us
EXP Realty Advisors
118 East 28th Street
Suite #808
New York, NY 10016
Phone: (212) 972-7457
Fax:
(212) 686-0078
Website: www.exp1031.com
Our Team
Robert P. James
President
Phone: (212) 972-7457
E-mail: rob@exp1031.com
Douglas D. McCulloch
Director of Sales
Phone: (212) 972-7457
E-mail: doug@exp1031.com
Daniel de Sa'
Sales Manager
Phone: (212) 972-7457
E-mail: dan@exp1031.com
This information has been obtained from sources deemed reliable, however EXP Realty Advisors and RPJ Commercial Realty Advisors do not guarantee, warranty or
represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone:
Fax:
Email:
Website:
212-972-7457
212-686-0078
exp@exp1031.com
www.exp1031.com