Iconic Avalon properties on the market for $7.4 million
Kohler's Bakery opened in 1949 at the popular Jersey Shore resort town.
Two Avalon institutions, Circle Pizza and Kohler’s Bakery, are on the market, part of a half-acre parcel that could be redeveloped.
The property sits at the corner of Dune Drive and 21st Street and includes residential units and five commercial spaces, including Circle Pizza, which opened in 1968 and moved to its current location in the late ’70s. The block is also home to Kohler’s Bakery, which opened in Bucks County in 1937 and moved to Avalon in 1949.
In typical Avalon fashion, the price is high: $7.499 million.
“It’s obviously a great investment opportunity,” listing agent Jonathan LaKose, of A. Lewis Purdy Real Estate told The Inquirer. “There’s a lot of potential.”
According to the Philadelphia Business Journal, the property is owned by a limited liability company linked to Utz Brands Inc. chairperson Dylan Lissette and his wife, Stacie Lissette. The parcel was first listed in April for $7.75 million.
LaKose said zoning in that area does not allow for hotels, but he believes the parcel has the potential for one, with a variance.
“It’s a part of town that doesn’t have hotels,” he said.
The parcel is also home to Snack Shack, Son of a Sailor Seafood, and Shaka Burger. All of the businesses and residential spaces are fully rented.
Staggering real estate prices abound in Avalon, including a modern beachfront home for $10.7 million and another, six-bedroom beachfront for $24.9 million that promises sunrise views on the Atlantic, sunsets on the bay, and an “enviable lifestyle.”