For Sale
$2,200,000

1743 Wiley StHollywood, FL 33020

12-Room Pet-Friendly Motel, 7% Pro-Forma Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This charming, 12-key, pet-friendly motel in Hollywood, Florida presents a compelling value-add investment opportunity. Located at 1743 Wiley St, in Broward County, zip code 33020 (25.9997986, -80.1420349), this single-story, 1952-built property boasts 100% occupancy and a current NOI of $121,000, yielding a 5.5% cap rate. The asking price is $2,200,000. However, pro forma projections indicate a significantly higher 7% cap rate, showcasing substantial upside potential for the savvy investor. Its convenient location offers easy access to the beach and major metropolitan areas such as Fort Lauderdale and Miami, ensuring a consistent stream of tourist traffic. The pet-friendly nature of the motel further enhances its appeal to a broader market segment. Seller financing is available. This property represents a rare chance to acquire a well-situated, income-generating asset with strong potential for increased profitability. The current high occupancy rate demonstrates the property's inherent appeal and market demand. This is an ideal opportunity for investors seeking a stable, high-return investment in the thriving South Florida hospitality market.

Highlights

  • $2,200,000 asking price for a value-add hotel investment opportunity.
  • 11-key, 1-story, pet-friendly motel in Hollywood, FL.
  • 5.5% current cap rate, 7% pro-forma cap rate.
  • 100% occupancy with a current NOI of $121,000.
  • Built in 1952, located in Broward County near Fort Lauderdale and Miami.
  • Broker co-op available.

Property Details for 1743 Wiley St

Property type
Hospitality properties, Hotels
Year Built
1952
Stories
1

Location Insight

City
Hollywood
County
Broward
State
Florida
Latitude
25.9997986
Longitude
-80.1420349
1743 Wiley St, Hollywood, Florida

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1743 Wiley St
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