Current Use by Public Records
- Hospitality properties
Property Details for 2525 Crk 208
- Year built
- 1998
- Lot size
- 1.51 lot acres
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
This exceptional investment opportunity presents a 67-key Hampton by Hilton Inn located in St. Augustine, Florida, at 2525 CR 208, zip code 32092. This four-story, interior corridor hotel, built in 1998 and fully renovated in 2018/2019, sits on a 1.51-acre lot and boasts a prime location directly off Interstate-95, offering high visibility in a high-tourist area. Its proximity to St. Augustine Premium Outlets and major attractions like St. George Street and the Castillo de San Marcos ensures consistent occupancy. The hotel's strong performance is reflected in its impressive financial history, with a trailing twelve-month net operating income (NOI) of $1,026,978, representing a 9.34% capitalization rate as of April 2024. Year-end 2023 figures show an even higher NOI of $1,162,270 and a 10.57% cap rate. The asking price for this lucrative property is $11,000,000. While a change of ownership PIP is estimated at $500,000, this figure requires verification by Hilton Hotels. The hotel's amenities include an outdoor pool, connecting rooms, digital key access, and complimentary breakfast. St. Augustine's thriving tourism industry, diverse demand generators, and strong annual tourist traffic contribute to the hotel's consistent success. This presents a unique opportunity to acquire a well-established hotel in a highly desirable market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Augustine
- County
- St. Johns
- State
- Florida
- Longitude
- -81.4162
- Latitude
- 29.9179
