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    1705 Ocean Dr Vero Beach, FL 32963

    For Sale
    $5,500,000

    18-Unit Hotel, Prime Beachfront Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 18-unit hotel presents a lucrative investment opportunity in Vero Beach, Florida. Located at 1705 S Ocean Drive S, this established property boasts a prime location directly across from public beach access, ensuring high occupancy rates. Built in 1956 and situated on a spacious 23,958 square foot lot, the hotel has undergone significant recent upgrades. These improvements include a new roof, an updated electrical panel, and a modernized billing system, streamlining operations and enhancing efficiency. Each of the 18 units has been meticulously renovated to create a desirable beach-themed atmosphere for guests. One unit is dedicated to on-site staff, providing 24/7 support and maximizing operational efficiency. The hotel's strong performance and streamlined operations allow for owner-operator absentee ownership. The asking price is $5,500,000, and owner financing is available, making this a compelling investment opportunity in a highly sought-after vacation destination. The property's location, recent upgrades, and efficient management structure combine to create a profitable and low-maintenance investment. This is a rare chance to acquire a well-established, high-performing hotel in a prime beachfront location. The property is ready for immediate income generation and offers significant potential for future growth.

    Property Features for 1705 Ocean Dr

    General Information

    Property type
    Hotels

    Building Details

    Year Built
    1956
    Units
    18

    HighLights

    • $5,500,000 asking price.
    • 18‑unit hotel in Vero Beach, Florida.
    • Located across from public beach access.
    • Recently renovated with upgrades including a new roof and electrical panel.
    • 17 guest units and 1 manager's unit.
    • Owner financing available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PADL Water Sports Equipment Rental Service Tropical Kayak Tours Tour Agency South Beach Place Hotel

    Suggested Use

    Realty agency Law Firm Restaurant Clothing Store Building Supply Kitchen & Bath Department Store Bar & Pub Hotel & Motel Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3532648
    Latitude
    27.6331347

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    FAQs

    What type of property is this?
    Hotel - 18-Unit Hotel, Prime Beachfront Location
    Where is this hotel located?
    The property is located at 1705 Ocean Dr Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: $5,500,000 asking price.; 18-unit hotel in Vero Beach, Florida.; Located across from public beach access.
    Request Owner's contact information
    1705 Ocean Dr Vero Beach, FL 32963
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    Realmo Value Estimation

    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.

    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.

    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
    1705 Ocean Dr Vero Beach, FL 32963
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