505 SE 16th St Fort Lauderdale, FL 33316

The Lauderdale Boutique Hotel presents a turn-key investment opportunity with 17 designer units. This fully upgraded boutique hotel is located at SE 16th St, Fort Lauderdale, situated on three contiguous lots totaling 21,450 SF. The property is zoned RO, allowing for 5-story development. The hotel's financials show a revenue of $830K and a NOI of $372K, representing a 44.6% margin under third-party management, or a $461K NOI with a 7.7% cap rate for owner-operated management. The hotel has a stabilized occupancy rate of over 80% and an ADR of $159. Over $600K in capital improvements were completed in 2023, including smart locks, fiber Wi-Fi, and 55" casting TVs. The hotel features tech-driven operations that are fully automated, requiring no front desk or full-time staff. It utilizes Guesty PMS, PricePoint dynamic pricing, and Conduit AI for inquiry resolution. The room mix includes 5 Queen Studios, 4 King Studios, 5 Junior Suites, and 3 Two-Bedroom Suites, catering to medical travelers, business guests, and leisure visitors. The location is 2 minutes from Broward Health (716 beds), within walking distance to a $1.2B Convention Center expansion, and less than 10 minutes from FLL Airport and Port Everglades. It is adjacent to a $3B+ development corridor including Pier Sixty-Six and Bahia Mar. Lot 505 is 70% undeveloped, offering expansion possibilities such as a pool/amenity deck, co-working conversion, or an 8-12 unit vertical addition. The property is offered with all technology, furnishings, and systems in place, making it ideal for portfolio operators, multifamily investors seeking hospitality yields, or local owner-operators. The property has a bike score of 71, walk score of 66, and transit score of 24.