For Sale
$2,800,000

808 Atlantic AveDaytona Beach, FL 32118

28-Room Boutique Hotel, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 28-room oceanfront hotel in Daytona Beach, Florida, presents a lucrative investment opportunity. Boasting 10,089 square feet across three buildings on a 0.74-acre lot, this property offers 25 keys with a current occupancy rate of 75%. Renovated in 2020, the hotel features a heated pool, inviting patios or balconies, and a charming canopy and seawall. The property enjoys a prime location directly across from the beach, a short drive from Daytona International Speedway, Daytona Ice Arena, and the Daytona Beach Boardwalk. With a current NOI of $280,000 and a pro-forma NOI of $420,000, this property offers a 10% cap rate and a pro-forma cap rate of 15%. Daily rates range from $110 to $210, contributing to a strong financial outlook. The hotel's location in the rapidly growing Daytona Beach-Ormond Beach Metro Area, coupled with the increasing demand for boutique accommodations, makes this a compelling investment. The property includes 28 parking spaces and is zoned for hotel/motel use (3900). Built in 1954, this hotel offers a blend of established history and recent upgrades, presenting a unique opportunity for significant returns. The asking price is $2,800,000, translating to $112,000 per key and $277.53 per square foot.

Highlights

  • Oceanfront 28-room hotel in Daytona Beach, FL, offering 25 keys and a 75% occupancy rate.
  • Features include a heated pool, patios/balconies, and a canopy/seawall; located directly across from the beach, near Daytona International Speedway and the Boardwalk.
  • 10,089 SF across three buildings on a 0.74-acre lot with 28 parking spaces; zoned for hotel/motel use (3900).
  • Current NOI of $280,000, pro-forma NOI of $420,000; 10% cap rate, pro-forma 15% cap rate.
  • Daily rates range from $110 to $210; asking price is $2,800,000 ($112,000 per key, $277.53/SF).

Property Details for 808 Atlantic Ave

Property type
Hospitality properties, Motels
Square Feet
10,089 SF
Year Built/Renovated
1954/2020
Buildings
3
Stories
1
Lot Size (sq. ft)
32,234 SF

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2160076
Longitude
-81.0029839
808 Atlantic Ave, Daytona Beach, Florida

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808 Atlantic Ave
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