602 Falkenburg Rd Tampa, FL 33619-8045
Property profile & analytics
602 Falkenburg Rd, Tampa, FL 33619-8045
- Hotels
- 43,240 SF
- 2.18 lot acres
Property ID
US19-0645139
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- La Quinta Inn & Suites by Wyndham Tampa Brandon West / Hotel & Motel
- La Quinta Inn & Suites / Hotel & Motel
Property Details for 602 Falkenburg Rd
- Year built
- 1986
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.18 lot acres
- Zone code
- PD
- Property type
- Hotels
- APN
- U202920663000002526900
- APU
- U202920663000002526900
Description
This exceptional 101-key La Quinta Inn & Suites, located at 602 S Falkenburg Rd, Tampa, FL 33619, presents a compelling value-add investment opportunity. Built in 1985 and extensively renovated in 2023, this three-story hotel boasts a strong 10.16% cap rate and a substantial NOI of $888,563. The property sits on a 2.18-acre lot and offers convenient access to I-75, placing it within minutes of central Tampa and major attractions such as Busch Gardens Tampa Bay, The Florida Aquarium, and Zoo Tampa at Lowry Park. Its proximity to significant employers like Coca-Cola and Citicorp also makes it attractive to business travelers. The recent renovations included parking lot rehabilitation, swimming pool resurfacing, hallway retexturing and painting, new hallway flooring, elevator modernization, and the installation of new dryers. Guests enjoy amenities such as complimentary daily breakfast, high-speed WiFi, and an outdoor pool. The hotel's strong financial performance, reflected in a 2023 gross revenue of $2,470,383.25 and a 3.54x RRM multiplier, further underscores its investment potential. The asking price is $8,750,000. Its strategic location also benefits from proximity to the Ice Sports Forum, Florida State Fairgrounds, Mid-Florida Credit Union Amphitheatre, Port of Tampa, Tampa Convention Center, and Tampa International Airport. This property offers a rare blend of established performance and significant upside potential. The University of South Florida is also nearby.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $7,170,000
- ML approach
- $6,975,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $8,571,000
Market price range: $5.38M - $10.3M -
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $7,920,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $11,250,000 Change: +42% Conversion: Difficult
- RETAIL STORES
- $9,600,000 Change: +21% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $9,310,000 Change: +18% Conversion: Difficult
- WAREHOUSE, STORAGE
- $8,405,000 Change: +6% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.3341
- Latitude
- 27.9444
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$97,350
$636,000
$4,887,100
$5,523,100
-
$636,000
$4,887,100
$5,523,100
