UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 9,439 sqft
Price per Sqft $1,481
MLS Listing ID A12053450
HOA Y/N No
Year Built 1970
Annual Tax Amount $157,789
Lot Size 0.380 Acres
Lot Dimensions 163
Property Sub-Type Hotel/Motel
Property Description
The Riptide Hotel is a unique oceanfront hospitality property located directly on the Hollywood Beach Broadwalk, a renowned 2.5-mile pedestrian promenade. The property features 20 direct oceanfront guestrooms and operates as a vibrant beachfront destination with a tiki bar, full-service restaurant, and newly added coffee shop. The offering includes two oceanfront buildings with brand-new roofs, 7 on-site parking spaces, and a separate private parking lot with 14 spaces, for a total of 21 private parking spaces. The property occupies an entire oceanfront block, an exceptionally rare configuration on the Broadwalk. The hotel is in good condition and operates as a turnkey income-producing asset with value-add potential, including room upgrades, room service, and the possible addition of guestrooms and a pool, subject to approvals. A 300+space municipal parking garage was completed on the same street in recent years, significantly improving accessibility and helping establish the hotel as a true destination along the Broadwalk. The property also offers redevelopment potential, with approved architectural renderings for a new four-story, 31-room boutique hotel featuring a restaurant, bar, retails, rooftop and covered parking. Plans are included in the sale. A rare opportunity to acquire an irreplaceable oceanfront hotel asset in a premier, supply-constrained beachfront market.
Location
State FL
County Broward
Area 3010
Zoning BWK-25-H
Interior
Flooring Tile
Exterior
Total Parking Spaces 21
Private Pool Yes
Building
Story 2
Level or Stories Two
Structure Type Block
Others
Tax ID 514212011730
Security Features Security System
Acceptable Financing Cash
Listing Terms Cash
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12053450
Nearby Locations
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