Entitled Hotel Development
1905 Elevate Avenue Navarre, FL 32566
1905 Elevate Avenue, Navarre, FL, 32566
Contact for pricing
For Sale
Contact for pricing
Fee simple interest in a shovel-ready 117-room Holiday Inn Express & Suites development site.
Property Size54,681 SF
Price / SF$54.86
Days on Market56
Property Features for 1905 Elevate Avenue
General Information
- Standard status
- Active
- Size
- 54,681 SF
- Property subtype
- Hospitality
Listing agency
Cushman & Wakefield - Boca Raton, Florida
Listed by
Jesse Lastofsky · License #SL 3549179
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:51PM Checked: Jul 20 at 4:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Boca Raton, Florida
Investment Insights
Based on property information with market context.
Cushman & Wakefield’s Hospitality Group is offering for sale the fee simple interest in a Holiday Inn Express & Suites development site featuring plans for a 117-room, IHG-affiliated select-service hotel. The project is presented as fully entitled with major approvals in place, positioned for immediate development execution under the Holiday Inn Express & Suites brand. The offering is for the development site only, with the intent to deliver the approved hotel program.
The property is located at 1905 Elevate Avenue in Navarre, Florida, within Northwest Florida’s coastal market. The remarks note the site’s positioning to serve year-round demand from leisure, military, and business travelers. The development site is described as being near Navarre Beach and supported by regional employment drivers and major transportation corridors.
For investors and developers, this is a shovel-ready, approved site opportunity for an IHG branded hotel in Navarre. Because the deal is structured as fee simple ownership of a fully entitled development site, an operator or capital partner can focus on moving directly into execution for the planned 117-room Holiday Inn Express & Suites project.
The property is located at 1905 Elevate Avenue in Navarre, Florida, within Northwest Florida’s coastal market. The remarks note the site’s positioning to serve year-round demand from leisure, military, and business travelers. The development site is described as being near Navarre Beach and supported by regional employment drivers and major transportation corridors.
For investors and developers, this is a shovel-ready, approved site opportunity for an IHG branded hotel in Navarre. Because the deal is structured as fee simple ownership of a fully entitled development site, an operator or capital partner can focus on moving directly into execution for the planned 117-room Holiday Inn Express & Suites project.
Key Highlights
- Fee simple interest in a shovel‑ready 117‑room Holiday Inn Express & Suites development site
- Major approvals are in place for immediate development execution
- Approved for a 117‑room, IHG‑branded Holiday Inn Express & Suites hotel
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $820.2k | $15.00 |
| − Vacancy | −$479.8k | −$8.78 |
| EGI | $340.4k | $6.23 |
| − OpEx | −$178.7k | −$3.27 |
| NOI | $161.7k | $2.96 |
54,681 SF · lease $15.00/SF/yr · vacancy 58.50% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$2.31M
$2.02M – $2.69M
NOI $161,685 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.46M
$11.78M – $15.71M
NOI $942,525 @ 7.0% cap · market cap 31.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hotels
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FAQs
What type of property is this?
Hotel - Fee simple interest in a shovel-ready 117-room Holiday Inn Express & Suites development site.
Where is this hotel located?
The property is located at 1905 Elevate Avenue Navarre, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Fee simple interest in a shovel‑ready 117‑room Holiday Inn Express & Suites development site; Major approvals are in place for immediate development execution; Approved for a 117‑room, IHG‑branded Holiday Inn Express & Suites hotel
