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13316719

1306 N Atlantic Ave, Daytona Beach, FL 32118 For Sale

JW
FL CQ1045719
Marlin Realty Group
Listed by Marlin Realty Group
$7,500,000
103 days on market
Updated 12 days ago

Cove Motel

Details
Property Type Hospitality
Sub Type Hotel, Motel
Square Footage 1
Keys 40
Pro-Forma Cap Rate 9.09%
Pro-Forma NOI $682,000
Price per SqFt $7,500,000
Buildings 3
Lot Size (SqFt) 1

Value Add, Direct Oceanfront, Renovated Retro Hotel, Assumable Mort modification

Marketing description

Direct Oceanfront, Renovated, Retro, Boutique 40 Room Hotel with approx.. 100ft of Direct Ocean Frontage Located in a great area of Daytona Beach FL. Recent Renovations are as follows: New TPO Roof currently being installed. Past renovations include new balcony’s, updated AC system, updated kitchens, tile, office etc. The pool was resurfaced and with the exterior pool pavers the guests have that feeling of a resort vibe. The property is a four-story, limited-service hotel as 32 of the rooms are either direct Oceanfront or Oceanview with the ocean view rooms feeling like oceanfront with the curvature of the design of the building. Completely turn key as the current management and staff would like to stay on as they treat the property as if was their own. As always all information deem to be true but not guaranteed and must be verified by potential buyer. There is a possibility of a private held mortgage being assumed on this property.

Investment highlights

Value ADD…Direct Oceanfront, Renovated, Private Mortgage in place with possibility of assumption

Listing Contacts

JW
FL CQ1045719
Marlin Realty Group
Listed by Marlin Realty Group

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Additional Information

Name
Jeff Weinert
License
CQ1045719
Brokerage
Marlin Realty Group
Brokerage Phone
386-566-9290
Title
Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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