2700 NE 33 Ave, Fort Lauderdale, FL
Motel for Sale - $4,900,000 - 10,721 Sq. Ft. on 0.55 acres
Property Info
| CIMLS# | 925015 |
| Location 2700 NE 33 Ave Fort Lauderdale FL 33308 | |
| Updated | September 23rd, 2017 |
| Type | Motel |
| Price | $4,900,000 |
| Building | 10,721 Sq. Ft. |
| Land | 0.55 acres |
Property Description
Broward hotel market is simply "hot". It is showing the highest occupancy rates in entire Tri-County. Do not miss the opportunity to acquire charming Green Island hotel. This is rare chance to own 27 units true Key West style boutique hotel located just 3 min from the beach. 0.55 ac land, Pool, Office. Second bldg. was built in 1975. Rare to find RMH-60 zoning. Potentially amazing site for redevelopment.40y re-certification is done. Offered based on Pro-Forma.
Location Description:
South of E Oakland Park Blvd just W of N Ocean Drive
Highlights:
>> More than 14 million people visited Broward last year
>> The first three months of 2017 saw an all-time high in hotel occupancy - 88.9%
>> Great demand is expected in the coming months
>> Value-Add Opportunity
>> RMH-60 zoning
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Financials
Sales Info:
>> Cap rate: 8.86%
>> Commision split: 2.5%
>> NOI: $433972