1112 5Th AveFort Lauderdale, FL 33304

Property Details for 1112 5Th Ave

Year built

1986

Property size (Sq ft)

2,550 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This 2,550 square foot motel in Fort Lauderdale, Florida, presents a compelling value-add investment opportunity. Built in 1986, the single-story property boasts 8 keys and 16 beds, situated on a 6,751 square foot lot with 4 parking spaces. Currently generating a NOI of $93,696 and a 9.46% cap rate, pro forma projections indicate a significant increase to a $156,448 NOI and a 15.80% cap rate with strategic improvements. The property is zoned RMM-25 and enjoys a prime location just minutes from Las Olas Boulevard, Fort Lauderdale Airport, The Galleria at Fort Lauderdale, Port Everglades, and the Bonnet House, ensuring high occupancy potential. The asking price is $990,000, representing a price per square foot of $388.24. This established motel offers substantial upside for an investor seeking to enhance profitability and capitalize on the strong tourism market in Fort Lauderdale. The property's address is 1112 NE 5th Ave, Fort Lauderdale, FL 33304.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1393

Longitude

-80.1395

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