UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 5,959 sqft
Price per Sqft $738
MLS Listing ID A12064893
HOA Y/N No
Year Built 1967
Annual Tax Amount $47,151
Lot Size 0.301 Acres
Property Sub-Type Hotel/Motel
Property Description
The property is fully equipped to operate day one, with an outdoor pool, picnic and barbecue area, a retail store licensed for beer, wine, and tobacco, an ATM, and 24-hour front desk. It holds motel, tobacco, and alcohol licenses, with 1 water meter and 8 electric meters. Onsite management is in place, units are cooled by wall and window AC, and several are already updated.
About 500 feet from Fort Lauderdale Beach, the property offers easy access to Downtown Fort Lauderdale, Las Olas Boulevard, and Fort Lauderdale-Hollywood International Airport.
Investment Highlights:
Asking Price: $4,400,000
16 Total Units (8 Rooms + 8 Efficiencies)
Annual Gross Income: $450,000
Total Annual Expenses: $104,000
Annual NOI: $346,000
In-Place Cap Rate: 7.86%
0.30 Acre Lot with Direct A1A / N Ocean Dr Frontage
Approximately 500 Feet from Fort Lauderdale Beach
Turn-Key Operation with Motel, Tobacco, and Alcohol Licenses
With strong in-place income, a 7.86% cap rate, and a prime beachside location, this is an attractive opportunity for an investor or operator seeking an established asset with upside.
Location
State FL
County Broward
Area 3111
Zoning RMH-25
Exterior
Private Pool Yes
Others
Tax ID 494319030470
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12064893
Nearby Locations
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