Property description of Hotel/Motel

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: $4,400,000 16 total units (8 rooms + 8 efficiencies) annual gross income: $450,000 total annual expenses: $104,000 annual noi: $346,000 in-place cap rate: 7. 86% 0. 30 acre lot with direct a1a / n ocean dr frontage approximately 500 feet from fort lauderdale beach turn-key operation with motel, tobacco, and alcohol licenses with 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.

Property Features