1700 S Atlantic Avenue, Daytona Beach, FL 32118
$1,600,000
Property Type:
Commercial Sale
Square Footage:
6,906
Lot Size (sq. ft.):
16,553
Status:
Closed
Current Price:
$1,600,000
List Date:
10/21/2021
Last Modified:
9/28/2024
Description
Studio One Motel, located directly across the street from the ocean consisting of 16 renovated Suites. Eight of these suites have a separate full kitchen as these are the luxury suites with the remainder having a kitchenette in the room. This property as you can see has been completely renovated and has a long term history of great revenue and high occupancy. As pricing of multifamily properties on the beach side continue to increase in the 150k plus range per unit, the other possibility for this investment would be to operate this property as long term multi- family property as an investment at 100k per unit, directly on A1A across the street from the ocean. There is a coin operated washer dryer on the premises along with a private BBQ patio.
Supplements: The Gross Income & NOI referenced in this listing is projected for 2022.As always all of this information deemed to be true and not guaranteed and must be verified by the potential buyer.
More Information MLS# 1089785
General Property Information
Lot Size Acres: 0.38
Number Of Units Total: 16
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Directions: From Silver Beach & A1A (Atlantic Ave), head South on A1A, along the ocean, property down on right.
Public Remarks: Studio One Motel, located directly across the street from the ocean consisting of 16 renovated Suites. Eight of these suites have a separate full kitchen as these are the luxury suites with the remainder having a kitchenette in the room. This property as you can see has been completely renovated and has a long term history of great revenue and high occupancy. As pricing of multifamily properties on the beach side continue to increase in the 150k plus range per unit, the other possibility for this investment would be to operate this property as long term multi- family property as an investment at 100k per unit, directly on A1A across the street from the ocean. There is a coin operated washer dryer on the premises along with a private BBQ patio.
Building Area Total: 6906
Lot Size Dimensions: 127x130
List Price/SqFt: 230.23
Sold Price/SqFt: 231.68
Year Built: 1966
Location, Tax, and Legal
Country: US
Parcel Number: 5316-02-00-1640
Tax Annual Amount: 9629
Tax Year: 2020
Tax Legal Description: LOTS 163 & 164 OCEAN DUNES DIV MB 6 PG 208 PER OR 5240 PG 1631
Zoning Description: Other
Currently Not Used
Year Built: 1966
Construction Materials
Block: 1
Concrete: 1
Cooling
Wall/Window Unit(s): 1
Current Use
Commercial: 1
Hotel/Motel: 1
Multi-Family: 1
Income and Expenses
Gross Income: 355473
Net Operating Income: 174368
Sewer
Public Sewer: 1
Utilities
Separate Electric Meters: 1
Separate Water Meters: 1
Water Source
Public: 1
Business Type
Commercial: 1
Hotel/Motel: 1
Sale Includes
Building & Land: 1
Historical Information
Public Historical Remarks 1: Zoning (Text): n/a; Bldg Type/Location: Free Standing; Income/Operating Inc: NOI: 174368; Included in Sale: Business Name, Good Will, Signs - Owned; Meters: # Electric Meters: 8, # Water Meters: 1; SqFt - Total: 16510.00; Confidential Listing: N; % Occupancy: 85.00; Commercial Property Name: Studio One; Financial Package: Yes; Franchise Opt In: No
Contract Information
Current Price: $1,600,000
Sold Price: $1,600,000
Status: Closed
Listing Contract Date: 2021-10-20
Property Sub Type: Business
Location Tax and Legal
Street Number: 1700
Street Direction Prefix: S
Street Name: Atlantic
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32118
MLS Area Major: 13 - Beachside, N of Dunlawton & S Silver
Status Change Information
Major Change Timestamp: 2022-01-18T23:54:21Z
Major Change Type: Status Change
Purchase Contract Date: 2021-11-08
Close Date: 2022-01-18
Close Price: 1600000
Property Features
Business Type: Commercial; Hotel/Motel
Construction Materials: Block; Concrete
Cooling: Wall/Window Unit(s)
Current Use: Commercial; Hotel/Motel; Multi-Family
Sale Includes: Building & Land
Sewer: Public Sewer
Utilities: Separate Electric Meters; Separate Water Meters
Water Source: Public
Listing Office:
Marlin Realty Group
Last Updated: September - 28 - 2024
Information deemed reliable but not guaranteed.