2640 & 2648 NE 32nd Street Fort Lauderdale, FL 33306

Building Details

Year Built

1959

Listing agency Matthews Real Estate

Listed by Julio Leyva · License #SL3639983

Source Crexi

Added: Jul 6 Updated: Jul 21 at 1:33PM Checked: Jul 21 at 1:33PM

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Investment Insights

Based on property information with market context.

Casitas Coral Ridge is a boutique hospitality property featuring a mix of spacious suites and guest accommodations set within a tropical residential setting. The asset includes a management office, and the current ownership has implemented a technology-driven operating platform designed to improve operational efficiency and profitability.

Located in the Coral Ridge neighborhood of Fort Lauderdale, the property is approximately one mile from Fort Lauderdale Beach. The remarks cite strong year-round demand from leisure travelers, medical visitors, extended-stay guests, cruise passengers, and corporate travelers. The property currently generates approximately $425,000 in annual NOI and is offered at an approximately 9.3% going-in capitalization rate. Additional upside is noted through converting the existing management office into a revenue-generating guest suite and continuing operational optimization initiatives.

Key Highlights

• Boutique hospitality property with spacious suites and guest accommodations in Coral Ridge, Fort Lauderdale
• Approximately $425,000 annual NOI and offered at a 9.3% going‑in capitalization rate
• Located about one mile from Fort Lauderdale Beach

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FAQs

What type of property is this?

Hotel - Boutique hospitality asset offering spacious suites and guest accommodations within a tropical residential setting.

Where is this hotel located?

The property is located at 2640 & 2648 NE 32nd Street Fort Lauderdale, FL.

What is the asking price?

The asking price for this property is $4,550,000.

What are key features of this property?

This property features: Boutique hospitality property with spacious suites and guest accommodations in Coral Ridge, Fort Lauderdale; Approximately $425,000 annual NOI and offered at a 9.3% going‑in capitalization rate; Located about one mile from Fort Lauderdale Beach