1112 5Th Ave Fort Lauderdale, FL 33304
- Hospitality properties
Current Use by Public Records
- crocodhouse / Indoor Lodging / Hotel
Property Details for 1112 5Th Ave
- Year built
- 1982
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity presents a charming eight-room, sixteen-bed hotel ideally situated at 1112 NE 5th Ave #2, Fort Lauderdale, Florida 33304. Built in 1982, this property offers significant potential for value appreciation. Currently operating as a hostel, its prime location offers easy access to key attractions including Las Olas Boulevard, Fort Lauderdale Airport, The Galeria at Fort Lauderdale, Port Everglades, and the Bonnet House, ensuring high occupancy rates and strong revenue generation. The property's current Net Operating Income (NOI) stands at $93,696, resulting in an attractive capitalization rate of 9.46%. This translates to a strong return on investment for a savvy buyer. The asking price for the hotel, including the existing business, is $990,000. Alternatively, the real estate itself is available for purchase separately at a price of $890,000, presenting a unique opportunity for investors seeking a blank canvas to develop their own hospitality venture. This classic add-value investment is poised for significant growth and offers a compelling opportunity in the thriving Fort Lauderdale market. The property is a duplex structure, offering potential for expansion or renovation to further enhance profitability. This is a rare chance to acquire a well-located, income-producing asset with substantial upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1393
- Latitude
- 26.1393
