Oceanfront Daytona Hotel, Economy/Limited Service, 2011 S. Atlantic Ave, Daytona Beach Shores, FL DIRECT OCEAN FRONT 40 Unit Motel! 20 of the units have kitchens. Owners are retiring and have ran this hotel on a VERY part time basis. Approximately 105 square feet per unit… Tike Bar next to the OCEANFRONT Pool for greater upside. 3 floor no elevator, exterior corridor – plus 3 lock off units. Buy and hold now and then build your own high rise condo if you so desire. Tropical landscaping. 0.42 acres of prime Oceanfront land in Daytona Beach Shores. Plenty of stores nearby. Only 1.2 Miles from the new Hard Rock Hotel & the Russian project. ADR is only $77/night blended average; run part time yields a gross of $210,000 and a net of $100,000. BUT run full time with the same verifiable ADR of $77 and 65% occupancy yields a gross of $758,855, net of $259,000 and a CAP of 11.3% 3 year outlook with Same low ADR of $77 and recession occupancy of again 65% yields a net of $366,408 and a CAP of 16%. The current 2014 P&L is attached. Please download the PDF
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The hotel is located just steps from one of the nation’ s most sought after beaches and the prestigious Bal Harbour shops. Bal Harbour shops is the highest ranked mall in sales per square foot in the world. The area draws tourists from all around the world to vacation.
The 2014 report shows $556,000 in gross revenue and $359,000 in operating expenses. The current cap rate on and all cash purchase of $5,570,000 is 3.53%. This is based on the revenue from mostly online bookings at a $118.16 ADR and RevPAR of $72.61. The current market ADR for competitive properties is $135/night. Through an estimation of current booking rates, the ADR is estimated at $138.69. The increased occupancy is estimated at 70% occupancy. Additionally, by renting the manager’ s unit, the net income would increase to $360,096, which would represent a 6.46% pro-forma cap rate. The property has an ample courtyard that could be used as an outdoor restaurant for additional income.In 2014 the 8 studios were offered at $80/night and current bookings for 2015 are $100/night. In 2014 the 13 suites were offered 21 suite Sorrento Villas in Miami Beach, FL. The hotel is located just steps from one of the nation’ s most sought after beaches and the prestigious Bal Harbour shops. Bal Harbour shops is the highest ranked mall in sales per square foot in the world. The area draws tourists from all around the world to vacation.
An incredible property located right on N. Ocean Blvd. just steps away from the Beach. This complex is immaculately kept.The property should be run as a motel and then it would have a very high cap rate but there are some long term rentals. Best priced motel per unit in Lauderdale by the Sea. The cap rate is a pro forma.
Take I95 to Atlantic Blvd. Go east to S. Ocean Blvd./A1A. Go south to property.
Net Operating Income $240,000
code for : MIAMI , MULTIFAMILY FOR SALE
code for MIAMI , MILTIFAMILY SALE PRICE
code for MIAMI , MULTIFAMILY units available for sale
The iconic Temple House – spectacular venue for major corporate and celebrity events, exciting film and television productions. Completely renovated 13,111 SF, 2-story landmark Art Deco building on a double corner lot. Features a 6,000+ SF grand room with 25 foot high ceilings and mezzanine, 2,600 SF private catering space/staging area, 2,400 SF sundeck with pool and waterfall on 2nd level. The unique 5-bedroom mansion with elevator and 2-car garage is a licensed event and catering facility accommodating up to 673 guests. The property also has a hotel bed and breakfast license. SUCCESSFUL OPERATING BUSINESS! Multimillion dollar income potential from multiple income streams. South Beach – Close to Lincoln Road, Ocean Drive, and the beach, shops, and restaurants.
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Real Estate, Property & Apartments for Sale in Miami – Garrtech Group
Whether you are interested in buying or selling Real Estate, Property & Apartments in Miami, Florida US, it's surely one of the biggest decisions you may have to deal with. And this is acceptable, taking into consideration the real estate market in Miami, where the vast audience, properties, as well as the modern trends make it really a complex job. But it's really worth the trouble, because it can offer you great possibilities and challenges. Keep in mind though that in order to make the right decisions, you should gather all the information needed and acting quickly at the same time.
Garrtech Group, after making thousand of real estate transactions in 17 homes for sale in Miami US area, is considered to be best the expertise that can help you a great deal in buying or selling successfully in Miami. We have many years in the business in the real estate market and the agents at the office of Garrtech are willing to give you all the proper advice as to make the right decisions, without concerning about bureaucracy. Garrtech has the best expertise that can help you and guarantee you success.
Garrtech does business in ALL parts of Miami Real Estate, serving all the clients with the best possible way. The experts agents, who are always willing to assist you, are speaking apart from English a lot of foreign languages, such as French, Hebrew, Italian, Portuguese, Hebrew and Turkish. In addition, we also have also translators for other languages. In short, they speak any language!Furthermore, Garrtech offers the following services in the real estate market:
- - Purchase
- - Sale
- - Rentals
- - Residence for vacation / Primary residence
- - Pre-Construction and New developments
- - Condos/Single Family
- - Income Property
- - Commercial Property
- - Industrial Property
- - Land/Development
- - 1013 Tax Exchange (Deferred)
- - Property Management/Design
- - Work with mortgage brokers and other companies to ensure success
- - Cosmopolitan... Hub for America (South and Central), East and Europe
- - Culture... Night clubs, opera, theatre, ballet, dance, arts and music
- - Sports... Champion Teams and great Stadiums
- - Location... Perfect beaches and weather
A Top Producing Team
We are a widely respected company and our team is one of the best in the real estate market. We are hardworking, Smart, find quick solutions and very productive. Our main goal is to help our clients to find exactly what they are looking for.Strong Network and Influence
Our team meets and talks with all the top agents in the area. We are focused on finding for you exactly what you want. We work 24/7 in order to achieve their goals. Also, there are other realtors that try to sell Garrtech's listings, because they do the best job.Effective Marketing
Our 18 homes for sale Miami marketing program the best you deserve and above all quality and diversity; as well as local connections to the global network. We also guarantee maximum results in real estate for you.Customers for Life
We offer the best customer service with solid work and respect for our clients. That's why the customers believe in us. Actually 50% of this business comes from customers that come again and again, as well as referrals. After all, we believe that in success and dedication to what it does.Why People Love Miami...