2011 S ATLANTIC Avenue, Daytona Beach Shores, FL 32118 (MLS# 1007391)

2011 S ATLANTIC Avenue, Daytona Beach Shores, FL 32118

$1,800,000

Property Type: Commercial Sale Status: Closed

Current Price: $1,800,000 List Date: 9/19/2015 Last Modified: 9/28/2024

Overview

Description

DIRECT OCEAN FRONT 27 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%>>>>>>>>>>>>

Listing Details MLS# 1007391

General Property Information

Year Built: 1987
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Directions: E On ISB,Go over orange Ave Bridge/Silver Ave.R on South Atlantic. Hotel is between Botefulr Ave & park ave.The Flamingo
Public Remarks: DIRECT OCEAN FRONT 27 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%>>>>>>>>>>>>

Property Features

Business Type: Hotel/Motel Sale Includes: Building & Land

Contract Information

Listing Contract Date: 2015-09-19
Property Sub Type: Business

Location Tax and Legal

Street Number: 2011
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: 2015-09-24T15:41:35Z
Major Change Type: Status Change
Purchase Contract Date: 2015-09-20
Close Date: 2015-09-22
Close Price: 1800000

Historical Information

Public Historical Remarks 1: Confidential Listing: N; Franchise Opt In: No

More Information

Location, Tax, and Legal

Country: US
Parcel Number: 5316-26-00-0101
Tax Legal Description: 16 15 33 S 5 1/4 FT OF LOT 10 E OF OCEAN SHORE BLVD IN SHARE2 & N 59.75 FT OF LOT 10 E OF OCEAN SHORE BLVD IN SHARE 3BOTEFUHR ESTATE PER OR 2260 PG 63

Currently Not Used

Year Built: 1987

Business Type

Hotel/Motel: Yes

Sale Includes

Building & Land: Yes

Listing Office: Aswin Suri Real Estate

Last Updated: September - 28 - 2024

Information deemed reliable but not guaranteed.

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