1705 Ocean Dr Vero Beach, FL 32963
- Motels
- 8,611 SF
- 0.55 lot acres
Current Use by Public Records
- PADL / Water Sports Equipment Rental Service / Canoe & Kayak Rental Service
- Tropical Kayak Tours / Tour Agency
- South Beach Place / Hotel
Property Details for 1705 Ocean Dr
- Year built
- 1956
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.55 lot acres
- Property size
- 8,611 SF
- Zone code
- RM-10
- Property type
- Motels
- APN
- 33-40-05-00009-0030-00018.0
- APU
- 9223372036854775807
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,420,000
- 6.5%
- $4,150,000
- 7%
- $3,920,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,340,000
- Geo Method
- $4,690,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,610,000
- Retail
- $4,505,000
- Mixed-Use
- $3,895,000
- Hospitality
- $4,840,000
- Educational
- $4,010,000
- Residential Income
- $4,310,000
- Energy
- $3,575,000
- Income-Based Land
- $3,675,000
- Food Service
- $4,755,000
Location Insight
- Map
- Local Demand
- City
- Vero Beach
- County
- Indian River
- State
- Florida
- Longitude
- -80.3532
- Latitude
- 27.6331
- CBSA code
- 42680
- CBSA name
- SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA
