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Approved Site for 2 Hotels and Restaurant Pad 2348 Route 70 W

120 Room Hotel Cherry Hill, NJ 08002 $8,150,452 CAD ($67,920 CAD/Room)

Investment Highlights

  • Situated within a mile of big box and lifestyle shopping centers.
  • 10 miles from Philadelphia International Airport.
  • Close Proximity to Philadelphia, NJ Turnpike, I-295, and Route 38.

Executive Summary

The Hampton Inn by Hilton plan contains 120 rooms. The Residence Inn by Marriott shows 131 rooms on the plan. The restaurant building on the plan is 4,250 square feet. The approvals include a 5 year tax abatement. The restaurant would obtain the liquor license as part of the hotel project.

Property Facts

Price $8,150,452 CAD
Price Per Room $67,920 CAD
Sale Type Investment
Sale Conditions Redevelopment Project
Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 6.73 AC
Construction Status Proposed
Building Size 60,000 SF
No. Rooms 120
No. Stories 5
Year Built 2027
Corridor Interior

Amenities

  • Fitness Center
  • High Speed Internet Access
  • Public Access Wifi
  • Smoke-Free
  • Digital key

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 2 $240.97 CAD -
Guest Room 118 $195.61 CAD -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
09-00071-01-00002
Land Assessment
$3,353,017 CAD
Improvements Assessment
$676,405 CAD
Total Assessment
$4,029,423 CAD

zoning

Zoning Code C-2 (zoning allows for a variety of commercial uses like retail stores, restaurants, offices, and hotels.)
C-2 (zoning allows for a variety of commercial uses like retail stores, restaurants, offices, and hotels.)
  • Listing ID: 33489608

  • Date on Market: 2024-10-11

  • Last Updated:

  • Address: 2348 Route 70 W, Cherry Hill, NJ 08002

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