317 Byron Butler Pkwy Perry, FL 32347-2300
- Hotels
- 4,723 SF
- 2.86 lot acres
Current Use by Public Records
- Skylark Motel Perry FL / Motel / Extended Stay Hotel
Property Details for 317 Byron Butler Pkwy
- Year built
- 1954
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.86 lot acres
- Property size
- 4,723 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 23-04-07-03141-000
- APU
- 23040703141000
Description
This exceptional investment opportunity presents a 33-room vintage Florida motel ideally situated at the intersection of Historic Highway 19 and Main Street in Perry, Florida. Boasting a prime location with a daily traffic count of 10,625 vehicles on Highway 19, this property offers significant potential for a savvy investor. The motel, built in 1954, retains its Old Florida charm while benefiting from its high-traffic location, just 55 miles south of Tallahassee and 166 miles from Tampa. This makes it a strategic location for tourists and corporate travelers alike, utilizing the heavily trafficked Highway 19 corridor. The property encompasses 2.86 acres and includes three buildings: two main buildings, each approximately 4,700 square feet, and a third, 1,728-square-foot building at the west end of the property, currently unusable. The total square footage is 11,166. An on-site office is also included. The property is commercially zoned and enjoys convenient proximity to downtown Perry. 2020 annual property taxes were $6,146. Net operating income (NOI) information is available upon request for qualified buyers. Owners are offering partial financing with 35% down at closing. In-person tours are available for well-qualified buyers. This is a rare chance to acquire a piece of Florida history with substantial income potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $665,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $520,000
- 6.5%
- $510,000
- 7%
- $510,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $520,000
- Geo Method
- $415,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $420,000
- Retail
- $455,000
- Mixed-Use
- $480,000
- Hospitality
- $450,000
- Educational
- $425,000
- Residential Income
- $580,000
- Energy
- $550,000
- Income-Based Land
- $580,000
- Food Service
- $560,000
Location Insight
- Map
- Local Demand
- City
- Perry
- County
- Taylor
- State
- Florida
- Longitude
- -83.591
- Latitude
- 30.1186