901 Oceanshore Blvd Flagler Beach, FL 32136

Property Details for 901 Oceanshore Blvd

Year built

1986

Property size

5,068 SF

Property type

Hospitality properties

Description

This fully operational, five-unit vacation rental property in Flagler Beach, Florida, offers a compelling investment opportunity. Located on scenic A1A with unobstructed ocean views, the property boasts 5,068-6,076 square feet across three stories and sits on a 4,868 square foot lot. The 11-bedroom property includes four one-bedroom units and a spacious three-bedroom, two-bathroom owner's suite. Recent renovations (2021-2023) have enhanced the property's appeal, resulting in a strong reputation and high occupancy rates on platforms like Airbnb and VRBO. The property features a large oceanfront patio with picnic tables and a firepit, and an oversized two-car garage offers additional potential. With a pro-forma NOI of $164,133 and a 7.46% cap rate, this turnkey business benefits from its prime location near local attractions, dining, and shopping, and from ongoing community development projects, including a new Margaritaville Hotel nearby. The property is zoned Tourist Commercial, offering flexibility for future expansion or use. The asking price is $2,200,000, representing a price per key of $440,000. This is an exceptional opportunity to acquire a successful, well-maintained vacation rental business in a thriving coastal community. The property's strong performance, prime location, and growth potential make it an attractive investment for both seasoned investors and those new to the vacation rental market. Built in 1986, this property offers a blend of established success and future upside.

Location Insight

City

Flagler Beach

County

Flagler

State

Florida

Longitude

-81.1306

Latitude

29.4868