Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    114 Highway 90 Bonifay, FL 32425

    Sponsored
    For Sale
    $1,900,000

    Florida Hotel - 37 Rooms, $1.9M

    Property size:
    15,002 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This 37-room hotel, located at 114 W Highway 90 in Bonifay, Florida (zip code 32425), presents a unique commercial investment opportunity. The 15,002 square foot property sits on a 98,010 square foot lot at the intersection of Highways 90 and 79, offering exceptional visibility and accessibility. Built in 1963, this single-story building is being sold "as-is," providing a blank slate for redevelopment or repurposing. The property's prime location in Holmes County offers potential for a variety of commercial ventures. Buyers are responsible for verifying all measurements, building restrictions, and utility access to ensure suitability for their intended use. The asking price is $1,900,000. This represents a chance to acquire a substantial property with significant upside potential in a strategic location. All information should be independently verified by the buyer. The property's versatility makes it suitable for various business plans, from a boutique hotel to other commercial uses. Don't miss this chance to transform this established property into a thriving business.

    Property Features for 114 Highway 90

    General Information

    Property type
    Hotels
    Square Feet
    15,002 SF

    Building Details

    Year Built
    1963
    Stories
    1

    We can help!

    Listing Contact
    Rebecca Perse

    Learn more

    Property Insight Report

    HighLights

    • 37‑room hotel on a 98,010 sq ft lot in Bonifay, FL.
    • 15,002 sq ft building located at 114 W Highway 90, at the intersection of Highways 90 & 79.
    • Built in 1963, sold "as‑is," offering redevelopment potential.
    • Asking price: $1,900,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bonifay
    County
    Holmes
    State
    Florida
    Longitude
    -85.6806669
    Latitude
    30.7883468

    Nearby Similar for Sale

    • $249,900
      3,530 SF

      Versatile Commercial Office Complex

      Handicap accessible, 2-unit commercial office complex near major highways.
      812 S Weeks St, Bonifay, FL 32425
      View Details
    • New
      $189,999
      2.76 Acres

      Bonifay, FL Land with Pond

      2.76 acres with pond, manufactured home, near Hwy 79.
      3272 Twin Lks Dr, Bonifay, FL 32425
      View Details
    • $750,000
      2,350 SF

      Versatile Commercial Property in Bonifay, FL

      High-traffic commercial property with flexible space and prime exposure.
      104 Highway 90 E, Bonifay, FL 32425
      View Details
    • $249,900

      Versatile Commercial Office Complex For Sale

      Handicap accessible, 2-unit commercial office complex near major highways.
      812 S Weeks St, Bonifay, FL 32425
      View Details
    • $1,225,000
      5,288 SF

      Bonifay Commercial Building Investment Opportunity

      5,288 SF commercial building with redevelopment potential in Bonifay, FL.
      406 S Waukesha St, Bonifay, FL 32425
      View Details
    • $1,225,000
      5,288 SF

      Bonifay Commercial Building For Sale

      5,288 SF commercial building in Bonifay, Florida.
      406 South Waukesha St, Bonifay, FL 32425
      View Details
    • $1,900,000

      Economy Lodge in Bonifay, FL

      37-room motel at the crossroads of Hwy 90 and Hwy 79.
      114 Highway 90, Bonifay, FL 32425
      View Details
    • $825,000
      1 SF

      Bonifay Mobile Home Park

      Fully occupied mobile home park with long-term tenants in Bonifay.
      2614 Springhill Rd, Bonifay, FL 32425
      View Details
    • $525,000
      1 SF

      Occupied Mobile Home Park

      Fully occupied park with long-term tenants and park-owned homes.
      1004 North Oklahoma St, Bonifay, FL 32425
      View Details
    • $189,900
      1,224 SF

      Bonifay Office Building - Hwy 79S

      Prime Bonifay Office Space, High Traffic Area
      1719C Waukesha St, Bonifay, FL 32425
      View Details
    • $109,900
      0.69 Acres

      Bonifay Storage Facility Investment

      Profitable Storage Units, Expansion Potential
      1170 Highway 79, Bonifay, FL 32425
      View Details
    • $170,000
      6,609 SF

      Bonifay Commercial Property - High Traffic Location

      High-visibility commercial property with rental income.
      802 Highway 90, Bonifay, FL 32425
      View Details

    FAQs

    What type of property is this?
    Hotel - Florida Hotel - 37 Rooms, $1.9M
    Where is this hotel located?
    The property is located at 114 Highway 90 Bonifay, FL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 37-room hotel on a 98,010 sq ft lot in Bonifay, FL.; 15,002 sq ft building located at 114 W Highway 90, at the intersection of Highways 90 & 79.; Built in 1963, sold "as-is," offering redevelopment potential.
    Request Owner's contact information
    114 Highway 90 Bonifay, FL 32425
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    114 Highway 90
    Bonifay, FL 32425
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    114 Highway 90 Bonifay, FL 32425
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rebecca Perse
    Learn more
    Google sign-in failed. Please try again or use another login method.