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14778845
14778844

430 W Merritt Island Causeway, Merritt Island, FL 32952

RL
FL FL CQ1066025, CA CA 02247157 & 01342940 (+1)
InvestorsAlly Commercial Property, Loans & Insurance
Listed by InvestorsAlly Commercial Property, Loans & Insurance
$4,950,000
863 days on market
Updated 109 days ago

Popular Motel in Merritt Island Area

Details
APN 24 3635-28-A-13
Property Type Hospitality
Sub Type Motel
Square Footage 9,084
Keys 23
Price per SqFt $545
Year Built 1959
Buildings 3
Stories 2
Acreage 0.460
Parking Spaces 23 per key
Investment Type Owner/User
Ownership Fee Simple

Hospitality | 23 Keys

Marketing description

This motel is one of the two major lodging properties on the beautiful Merritt Island along the Space Coast. Some parts of the 23-key motel are rooms with a queen-size bed or two double beds, many others are suites with either one bed or two beds for tourists to select from. The total number of beds can sleep between 30 to 40 persons. Many are equipped with microwave ovens, fridges, and ranges for family cooking and entertaining. In addition, above the reception desk office there is a large 2-bedroom manager's living quarters that sleep another 5 persons and can be rented out at the new owner's discretion. There is also plenty of parking space on site. The occupancy has been a blend of steady long-term clients due to the vibrant local economy as well as some more profitable short-term transient customers. The owner has put in a significant amount of blood, sweat and tears for renovation of the property from a previously dilapidated state since the acquisition. Due to family reasons, the owner has reluctantly decided to part way with this treasured possession if we can find a caring new owner for it.

Watch SpaceX and Blue Origin launch their rockets right from the property on Merritt Island, Florida. As the portal to the interstellar world, this region will enjoy tremendous economic growth within the next few decades. It is almost like waiting for an economic boom by being located near the train station some three hundred years ago. The nearby Kennedy Space Center on the island is one of the major attractions for tourists from around the world. The famous Cocoa Beach is also just across the short causeway. The latest U-Haul Index indicates the nearby Palm Bay/Melbourne area has the largest influx of new relocating residents in the US last year, brought by the hiring sprees of those major hi-tech companies such as Northrop Grumman, L3Harris and Embraer that are involved in the new space industry. Patrick Space Force Base is further south on Satellite Island. Together they represent the futuristic and booming Space Coast. Where else can you enjoy the paradise while being so close to the station to embark on a futuristic interstellar trip, or more mundanely, hop on a cruise ship in the nearby Port Canaveral to the sunny Caribbean islands.

Investment highlights

High income motel business with stable long term clientele and short term tourists. One of the two hotels on the island. Strategically located.

Listing Contacts

RL
FL FL CQ1066025, CA CA 02247157 & 01342940 (+1)
InvestorsAlly Commercial Property, Loans & Insurance
Listed by InvestorsAlly Commercial Property, Loans & Insurance

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Additional Information

Name
Ralph Liu
License
FL CQ1066025
Brokerage
InvestorsAlly Realty
Title
Real Estate Broker
Brokerage Address
1521 Alton Rd, #713
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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