30 Hospitality Ave Hollywood, FL 33019
- Hospitality properties
- 14,176 SF
Current Use by Public Records
- Hospitality properties
Property Details for 30 Hospitality Ave
- Property size
- 14,176 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity encompasses a portfolio of five buildings comprising two hotels and a parking lot, totaling 14,176 square feet on a 29,862 square foot lot in Hollywood, Florida (33019). The property boasts 30 keys, currently generating a NOI of $145,913 and a cap rate of 1.63%. However, a pro-forma analysis projects a significantly higher NOI of $1,868,365 and a 20.88% cap rate, indicating substantial upside potential. The asking price is $8,950,000, translating to $298,333 per key and $631.35 per square foot. The two-story hotels are situated near the beach in a thriving South Florida tourism market, known for its high occupancy rates. A new owner can leverage this strong foundation by implementing revenue-enhancing strategies such as adding amenities like bike rentals, a continental breakfast, and laundry/dry cleaning services. This presents a rare chance to acquire a well-positioned hospitality asset with considerable room for increased profitability in a highly desirable location. The property is conveniently located at 30 Hospitality Ave, Broward County.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hollywood
- County
- Broward
- State
- Florida
- Longitude
- -80.1261
- Latitude
- 26.0276
