Renovated All-Suite
For Sale
Contact for pricing
555 NW 62ND ST, Fort Lauderdale, FL 33334
Full-service hospitality property with renovated suites, dining, event facilities, and guest amenities.
Property Size264,831 SF
Price / SF$203.90
Days on Market47
Property Features for 555 NW 62ND ST
General Information
Standard status
Active
Size
264,831 SF
Total Parking Spaces
218
Property subtype
Hospitality
Zoning
CC - Commercial Corridor
Occupancy
70%
Investment Type
Value Add
Additional Details
Asking Price
$54,000,000
Amenities
full-service restaurant and lounge
outdoor pool
fitness center
business center
club lounge
meeting and event space
ballroom
boardroom
breakout rooms
atrium reception area
outdoor event venue
full commercial kitchen
Building Details
Year Built
1987
Year Renovated
2025
Buildings
1
Stories
8
Units
258
Listing Agency:
The Keyes Company - Brickell Office
(305) 790-5511
Listed By:
Tony Ulloa · License #SL3045193
Source:
Crexi
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 4:04PM
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 The Keyes Company - Brickell Office
Investment Insights
Based on property information with market context.
This Marriott-branded, full-service hotel contains 258 all-suite guestrooms across eight floors, with separate living and sleeping areas, wet bars, microwaves, sofa sleepers, and updated Marriott room standards. The property also includes a restaurant and lounge, outdoor pool, fitness center, business center, and club lounge, supported by 218 on-site parking spaces. Originally built in 1987, the hotel has undergone renovations and carries CC - Commercial Corridor zoning.
Approximately 14,477 SF of meeting and event facilities includes a ballroom, boardroom, breakout rooms, atrium reception area, and outdoor event venue. A full commercial kitchen, full liquor license, and catering capacity for up to 500 guests support the property’s group and event operations. The hotel is located in Fort Lauderdale.
Approximately 14,477 SF of meeting and event facilities includes a ballroom, boardroom, breakout rooms, atrium reception area, and outdoor event venue. A full commercial kitchen, full liquor license, and catering capacity for up to 500 guests support the property’s group and event operations. The hotel is located in Fort Lauderdale.
Key Highlights
- 258 newly renovated all‑suite guestrooms across eight floors
- Approximately 14,477 SF of meeting and event space
- 218 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,566,967
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$51,339,340
$51.3M
Cap Rate 7%
$36,670,957
$36.7M
Cap Rate 9%
$28,521,856
$28.5M
Market Conditions
NOI Build-Up for 264,831 SF
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.
Gross rent
$6.04M $22.80/SF
− Vacancy
−$634.0K −$2.39/SF
EGI
$5.40M $20.41/SF
− OpEx
−$2.84M −$10.71/SF
NOI
$2.57M $9.69/SF
Area
Fort Lauderdale, FL
Vacancy
10.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$51,339,340
Cap Rate 7%
$36,670,957
Cap Rate 9%
$28,521,856
Alternative Uses
Best Use
Hotel Hospitality
$36.67M
$32.09M – $42.78M
NOI $2,566,967 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$177.97M
$155.72M – $207.63M
NOI $12,457,650 @ 7.0% cap · market cap 23.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,597
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Full-service hospitality property with renovated suites, dining, event facilities, and guest amenities.
Where is this hotel located?
The property is located at 555 NW 62ND ST Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $54,000,000.
What are key features of this property?
This property features: 258 newly renovated all‑suite guestrooms across eight floors; Approximately 14,477 SF of meeting and event space; 218 on‑site parking spaces
