Wanna Buy a Hotel? Historic AC Hotel Listed For $3.5 Million

A vacant Atlantic City hotel that is on the National Register of Historic Places is for sale for $3.5 million.

Atlantic City's Madison Hotel is Up For Sale

A 13-story Atlantic City beach block hotel has gone on the market after sitting empty since 2021.

The Madison Hotel, Georgian Revival style building at 125 S. Dr. Martin Luther King Blvd., features 126 double suites, a full lobby with bar and dining room, a commercial kitchen, meeting rooms, a fitness center and more.

The building has been vacant for a few years, so its in need of maintenance, but since it's the city's opportunity zone and an historic place, you may be in line for state and federal tax credits.

A Description of the Madison Hotel

Here's how Levin Commercial Real Estate describes the Madison Hotel in the listing ad...

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.

 

The Sands Casino Converted The Building to Suites

In the final years of the Sands Casino, they invested $7 million into the Madison Hotel,  creating 126 Suites to complement their neighboring hotel and casino.

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

Two years later, the Sands closed. The Sands Casino was imploded in 2007 and the site remains undeveloped today.

The Madison Hotel Became The Baymont Inn

In 2014, the Madison Hotel reopened as the Baymont Inn & Suites, a Wyndham Hotel.

Old online ads for the Baymont Inn promote free in-room wi-fi and an onsite fitness center and show photos of nicely appointed rooms.

The Baymont Closed in 2021 and today the outside of the beautiful old Madison Hotel building is in obvious need of attention.

The Madison was purchased in 2022 for $2.5 million. That ownership group is now selling.

The real estate ad takes an optimistic view of the future of the Madison Hotel...

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.

Take a look at a gallery of photos of the Madison Hotel...