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Property profile & analytics
OFF-MARKET
Estimated value
$24,300,000
Hotels
2440 62nd St Fort Lauderdale, FL 33309-1829
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5843329
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1989
Construction
CONCRETE
Total area
97,048 SF
Lot
3.9 ac (169,854 SF)
Zoning code
GAA
APN
49-42-09-29-0110
UPID
US18-5843329
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.48M
Blend (final)
Blend
$24.30M
Owner & transaction history
Grand Prix Addison Ri LLC · 6 yrs held
Grand Prix Addison Ri LLC
since 2019
4 recorded transactions
Zoning & alternative use
GAA · Fort Lauderdale, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
- Commerce Center District CF - Community Facility CF-H - Community Facility/House of Worship CF-HS - Community Facility/House of Worship and School CF-S - Community Facility/ School CR - Commercial Recreation District GAA - General Aviation Airport District H-1 - Historic Preservation District I - General Industrial I-1 - County IOA - Intracoastal Overlook…
Zone name
General Aviation Airport District
General category
SPECIAL
Zone area
794.40 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Lauderdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Lauderdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$24.30M
Range $21.87M – $26.73M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$250 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$325,393
Tax year 2023
Assessed value
$15,556,280
Assessed 2023
Previous assessed
$16,150,220
-3.7% YoY
Effective rate
2.09%
On assessed value
Assessed land
$1,528,690
Assessed improvement
$14,027,590
Land market value
$1,528,690
Improvement market value
$14,027,590
Total market value
$15,556,280
Applied tax rate
312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1989
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
4
Units
138
Total area
97,048 SF
Lot
3.9 ac (169,854 SF)
Zoning code
GAA
APN
49-42-09-29-0110
UPID
US18-5843329
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
GAA · Fort Lauderdale, FLZoning GAA · permitted uses
GAA · Fort Lauderdale, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
- Commerce Center District CF - Community Facility CF-H - Community Facility/House of Worship CF-HS - Community Facility/House of Worship and School CF-S - Community Facility/ School CR - Commercial Recreation District GAA - General Aviation Airport District H-1 - Historic Preservation District I - General Industrial I-1 - County IOA - Intracoastal Overlook Area District M-3 - County MHP - Mobile Home Park NBRA - North Beach Residential A
Zone name
General Aviation Airport District
General category
SPECIAL
Zone area
794.40 ac
Building & site characteristics
From public records
Year built
1989
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
4
Units
138
Lot
3.9 ac
Current owner
From public records · entity-resolved
Grand Prix Addison Ri LLC
Entity
Mailing address
6000 NW 21ST AVE, FORT LAUDERDALE, FL 33309-6642
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 25, 2019
—
Grand Prix Addison Ri LLC
—
Loan Modification
related
$755,000,000 · Morgan Stanley Bk
Aug 13, 2007
—
Grand Prix Ft Lauderdale LLC
—
Deed Of Trust
related
$825,402,542 · Lehman Ali INC
—
—
Grand Prix Ft Lauderdale LLC
—
Loan Modification
related
$575,000,000 · J P Morgan Chase Bank
—
—
Grand Prix Ft Lauderdale LLC
—
Loan Modification, Consolidation And Extension
related
$635,000,000 · Chase Bk/md
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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