Ocean City NJ’s Famed Tahiti Inn is for Sale [Photos]
The Tahiti Inn, a longtime family-owned motel and apartment building that comes with three additional parcels of land in the heart of Ocean City is for sale.
What's the history of the Tahiti Inn?
The Gallelli family has owned the Tahiti Inn since 1989. According to OCNJ Daily, when Mario Gallelli moved from Italy to America he wanted to own a hotel property. He purchased the Tahiti Inn and it has been the family business ever since.
When Mr. Gallelli died in 2020, the family was faced with the decision of keeping the family business or testing the red-hot Ocean City real estate market. They have decided to put the property up for sale.
What's included with the Tahiti Inn sale?
The Tahiti Inn, between 11th and 12th and Ocean Avenue in Ocean City, combines 42 motel rooms and suites and an apartment building with 15 one or two-bedroom units.
In addition, there is a 2-bedroom/1-bath, year-round owner's apartment; a 1-bedroom/1-bath year-round manager's apartment; and an employee's room with multiple beds and a small kitchenette.
But, it's the three parcels of land included in the sale, now used as two parking lots, that add real potential to this purchase.
All three parcels are located in the hospitality zone, which boasts a variety of development opportunities in the heart of Ocean City. Housing or multi-family housing, apartments, shops, and restaurants would all bring top dollar in this centrally located area.
What is the asking price for the Tahiti Inn?
The Tahiti Inn motel, apartment building, heated pool and property, and three developable lots - altogether about an acre of prime Ocean City real estate - are listed at $13.5 million.
Let's take a photo gallery tour of the Tahiti Inn.