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Property profile & analytics
OFF-MARKET Estimated value $1,375,000
Motels

908 15th Ave Fort Lauderdale, FL 33304-4403

2,060 SF 0.15 ac lot Built 1957
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US18-1945322
Property summary
AI-generated overview

This fully renovated, 8-key hotel in Fort Lauderdale's Victoria Park offers an exceptional investment opportunity. Built in 1957 and extensively renovated in 2021, this two-story, 2,060 square foot property sits on a 0.15-acre lot (APN: 49-42-34-05-8030) and is zoned RMM-25. Its prime location near Las Olas Boulevard, the beach, and the Seminole Hard Rock Hotel & Casino, within the high-traffic corridor of Sunrise Boulevard (approx. 60,600 vehicles daily), ensures strong demand. The property benefits from its proximity to numerous attractions, including Bonnet House Museum & Gardens, the Museum of Discovery and Science, and Nova Southeastern University, all within the Miami-Fort Lauderdale-Pompano Beach MSA (population over 6 million). Currently operating as a short-term rental/Airbnb, this hotel presents significant upside potential for an owner-operator, given its current absentee ownership. The asking price is $1,900,000 ($922.33/sq ft). This represents an entry-level price point for a fully renovated hotel in a highly sought-after South Florida market with limited hotel supply. The property's success is further supported by its location amongst million-dollar homes and townhomes in one of Fort Lauderdale's most affluent neighborhoods. This is a rare opportunity to acquire a profitable, established hospitality business in a thriving market.

Property profile
Verified
Property type Motels
Use group MOTEL
Year built 1957
Construction CONCRETE
Total area 2,060 SF
Lot 0.15 ac (6,750 SF)
Zoning code RMM-25
APN 49-42-34-05-8030
UPID US18-1945322
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
Current use
Occupant on record · Public records
  • Karen’s Las Olas Guest House Hotel & Motel
  • Kim Kardashian Suite- K1 Hotel & Motel
  • Las Olas Guesthouse @ 15th Avenue Bed & Breakfast Hotel & Motel
  • B Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.54M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.57M
Blend (final) Blend
$1.38M
Owner & transaction history
Sleep Over Guest House LLC · 4 yrs held
Sleep Over Guest House LLC
since 2022
Last sale
$1.4M
7 recorded transactions
2022
$1.9M
2017
$1.5M
2010
$625,000
2010
Price N/A
2009
Price N/A
2009
Price N/A
1969
Price N/A
Zoning & alternative use
RMM-25 · Fort Lauderdale, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

RMM-25 district is intended for mid-rise multifamily residences and tourist accommodations. The RMM-25 district has a maximum density of 25 dwelling units per net acre and a maximum density of 30 hotel/motel or nursing home rooms per net acre

Zone name Residential Multifamily Mid Rise And Medium High Density
General category RESIDENTIAL
Zone area 1,345.88 ac
Source Realmo
Top alternative use upside
Auto repair, garage $1.7M +59.2%
Commercial (general) $1.6M +55.7%
Neighborhood: shopping center $1.6M +47.8%
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