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$ 4,400,000
Est. payment | /mo
5,959 SqFt
$ 4,400,000
Est. payment | /mo
5,959 SqFt
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 0.300 Acres
Acres 0.3
Property Sub-Type Hotel/Motel
Property Description
Located at 4117 N Ocean Dr in Fort Lauderdale, this 16 unit motel is a rare turn-key investment steps from the beach. Built in 1968 on a 0.30 acre lot with direct A1A frontage, the property features 8 traditional hotel rooms and 8 efficiencies, giving operators flexibility for short-term and extended-stay guests.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: $4,400,00016 Total Units (8 Rooms + 8 Efficiencies)Annual Gross Income: $450,000Total Annual Expenses: $104,000Annual NOI: $346,000In-Place Cap Rate: 7.86%0.30 Acre Lot with Direct A1A / N Ocean Dr FrontageApproximately 500 Feet from Fort Lauderdale BeachTurn-Key Operation with Motel, Tobacco, and Alcohol LicensesWith 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 3150
Zoning RMH-25
Interior
Interior Features InteriorFeatures
Fireplace No
Building
Dwelling Type Hotel/Motel
Others
Tax ID 494319030470
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12064893
Listed by Joseph Ricardo Suarez Trustpoint Realty, LLC.
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