831 N Ocean Blvd, Pompano Beach, FL 33062

Cushman & Wakefield is proud to present for sale The Palms on Ocean, a 16-room hotel and food mart located steps away from the Atlantic Ocean on North Ocean Blvd. This is a unique investment opportunity offering multiple income streams and an excellent location in the heart of the developing submarket of Pompano Beach. The hotel offers a relaxing getaway with the convenience of on-site parking, a food mart, and a pool for its guests all within a minute's walk from the beach.

The Palms on Ocean has been owner-operated for over three decades and provides investors with strong earning potential and appreciating land value. The property is situated on a .28-acre lot offering potential future redevelopment and renovation. Recent upgrades include but are not limited to a new roof completed in 2018, a resurfaced parking lot, impact windows, a well-maintained pool, and each room equipped with a kitchenette.

Strategically located within a few yards of the shoreline, this hospitality asset capitalizes on South Florida's established tourism industry. Furthermore, the submarket of Pompano Beach has been experiencing an influx of new development drawing new dining, shopping, and entertainment experiences within a few miles of the subject property. New developments include the luxury condos (CasaMar, Waldorf Astoria, The W, and Rosewood Residences) which offer new retail and F+B locations. Notable attractions in the area include a wide array of recreational and shopping opportunities like the Pompano Beach Pier, Pompano Golf Course, and the Citi Centre. This is an ideal investment opportunity to capitalize on a stabilized hospitality asset situated in a prime location with long-term upside.