Portfolio sale of two beach area hotels
Two hotels , 25 keys each for a total of 50 rooms. Both properties in prime beach areas and tourist heavy locations. The properties are 7 miles or a short 15 minutes drive apart.
$2,100,000 combined YEARLY GROSS REVENUE
NOI at 50%
ESTIMATED CAP RATE: 7-8%
TOTAL ASKING PRICE: $13,950,000
PROPERTY #1 ST PETE BEACH, FL
PROPERTY FACTS
- Property Type: Hotel
- #Rooms: 25
- Class: B
- Lot Size: 0.92 AC
- Building Size: 6,212 Sf
- Renovated in 2006
- Redevelopment potential for up to 49 rooms
- $1,000,000 in gross revenue each year
- Walking distance from Upham Beach (St Pete Beach) and Sunset Beach (Treasure Island)
PROPERTY #2 NORTH REDINGTON BEACH, FL
PROPERTY FACTS
- Property Type: Hotel
- #Rooms: 25
- Class: B
- Lot Size: 0.55 AC
- Building Size:10,756 Sf
- 25 Keys + NNN lease on a Restaurant (4 years remining paying $2,800 month with 5% yearly escalation)
- $1,100,000 in gross revenue each year
- Across the street from the beach/Gulf of Mexico
All provided information must be verified with Owner and County Data
Presented by:
Tevi D. Lawson
Broker/Owner
POLARIS REALTY
M: (727) 200 5627
office@polaris90.com