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NEW LISTING: Aswin Suri Does It Again! Another Beautiful Hotel For Sale!

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Fri, Mar 13, 2015 at 3:55PM

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%>>>>>>>>>>>>>>>>> 3 year outlook with Same low ADR of $77 and recession occupancy of again 65% yields a net of $366,408 and a CAP of 16%  

 

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