1105 Federal Hwy, Unit 1 Lake Worth, FL 33460-5243
- Hotels
- 5,286 SF
- 0.31 lot acres
Current Use by Public Records
- The Casa Loma / Apartment Complex / Apartment Building
Property Details for 1105 Federal Hwy
- Year built
- 1990
- Construction
- CONCRETE
- Lot size
- 0.31 lot acres
- Property size
- 5,286 SF
- Zone code
- MU-FH
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 38-43-44-27-01-048-0090
- APU
- 38434427010480090
Description
This exceptional 14-unit hotel in Lake Worth Beach, Florida presents a lucrative investment opportunity. The two-story concrete block building, constructed in 1990, has undergone a comprehensive renovation. Improvements include a brand-new roof, impact-resistant windows and doors, updated signage, and a modern security camera system. All 14 units boast recently renovated interiors featuring stainless steel appliances, granite countertops, porcelain flooring, new window blinds, and contemporary kitchen cabinetry. Twelve units are equipped with new Mitsubishi mini-split air conditioning units. The property benefits from a transient license, allowing for flexible short-term or long-term rental strategies. Historically operating at near 100% occupancy, the hotel achieves effective rents of $1,678 per unit. Located at 1105 S Federal Hwy #1, Lake Worth, FL 33460, in Palm Beach County, this property offers a compelling combination of strong performance and modern amenities. The asking price is $2,250,000. This turnkey operation is ready for immediate income generation and presents significant potential for future growth. The property's concrete block construction ensures durability and longevity, while the recent renovations minimize immediate capital expenditure needs. The strategic location in Lake Worth Beach provides easy access to local attractions and amenities, further enhancing its appeal to both short-term and long-term renters.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,175,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,100,000
- 6.5%
- $2,170,000
- 7%
- $2,240,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,800,000
- Geo Method
- $2,335,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,175,000
- Retail
- $2,025,000
- Mixed-Use
- $2,015,000
- Hospitality
- $2,495,000
- Educational
- $2,330,000
- Residential Income
- $2,375,000
- Energy
- $2,000,000
- Income-Based Land
- $2,000,000
- Food Service
- $1,895,000
Location Insight
- Map
- Local Demand
- City
- Lake Worth
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0526
- Latitude
- 26.6022
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
