510 Ln S Ave Jacksonville, FL 32254-3532

Property Details for 510 Ln S Ave

Year built

1964

Lot size

0.91 lot acres

Property size

2,887 SF

Zone code

CCG-1

Property type

Commercial land

APN

007445-0000

APU

74450000

Description

This exceptional 207-key hotel in Jacksonville, Florida, presents a lucrative investment opportunity. Boasting a strong NOI of $1,573,234 and a 10.70% cap rate, this property offers significant return potential. The 6-acre site includes four buildings, a recently renovated pool (November 2021), a bar and restaurant, event space, office space, a gym, and ample guest parking. The hotel features 180 renovated deluxe rooms, including king, queen, and double deluxe options, plus suites. Conveniently located near I-10 and I-295, it offers easy access to major attractions, including Jacksonville Beaches, The Jacksonville Landing, and EverBank Field. Built in 1963 and extensively renovated in 2021, the property also includes a manager's apartment above the lobby, a poolside gazebo, a ballroom with a private entrance, and versatile convertible space suitable for expansion into additional event space or a convenience store. The roof was replaced 10 years ago. This property is easily adaptable for multi-family conversion. Asking price is $14,700,000.