For Sale
$5,710,000

3215 7Th StPompano Beach, FL 33062

Coastal Florida Hotel, High Occupancy

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
114
Prime investment opportunity: Waves Beach Vacation Rentals, a two-story, 22-key hotel in Pompano Beach, Florida, is available for sale/leaseback. This property boasts a strong 95% occupancy rate (as of June 26, 2024) and a compelling 8.63% cap rate, generating a net operating income (NOI) of $492,727. The asking price is $5,710,000, or $259,545 per key. The hotel features a mix of 14 studio units (11 with full kitchens, 3 with kitchenettes) and 4 two-bedroom units (all with full kitchens, 3 with in-suite laundry). Recent renovations include modern interiors and upgraded amenities in all 23 units (22 units + 1 spacious 900 sq ft two-bedroom suite), minimizing maintenance needs and maximizing rental appeal. The property also includes a renovated outdoor pool area and ample surface parking (19 spaces) on a 17,000 sq ft lot. Located at 3215 NE 7th St, Pompano Beach, FL 33062, this hotel benefits from its proximity to public transportation, parks, gyms, and other recreational facilities. The property is zoned RM-20 - MULTIPLE-FAMILY RESIDENCE.

Highlights

  • $5,710,000 asking price for a 22-key hotel/motel in Pompano Beach, FL.
  • 8.63% cap rate with a $492,727 Net Operating Income (NOI).
  • 95% occupancy, projected occupancy date of June 26, 2024.
  • Sale/Leaseback investment opportunity.
  • Property features 22 units (18 large units), recently renovated with modern interiors and upgraded amenities.

Property Details for 3215 7Th St

Property type
Hospitality properties, Motels
Stories
2

Location Insight

City
Pompano Beach
County
Broward
State
Florida
Latitude
26.2429938
Longitude
-80.0892921
3215 7Th St, Pompano Beach, Florida

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Contacts

William Thompson
William Thompson
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3215 7Th St, Pompano Beach, Florida, 33062

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

3215 7Th St
  • William Thompson
    William Thompson
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