719 Douglas AveDunedin, FL 34698

Property Details for 719 Douglas Ave

Year built

2021

Lot size

0.28 AC

Property size (Sq ft)

3,564 SF

Property type

Hospitality properties

Property subtype

Motels

Description

This exceptional investment opportunity presents a newly constructed (2021) hotel/motel in Dunedin, Florida's desirable Downtown Core zoning district. The property comprises four two-story buildings, each featuring a unique loft-style unit with towering ceilings and an open-concept floor plan. Each unit boasts private outdoor space (porch, balcony, or patio) and dedicated parking in a private driveway. The 3,564 square foot property sits on a 0.28-acre lot and includes a tranquil in-ground swimming pool surrounded by lush landscaping. The modern coastal chic décor and large windows create bright, inviting spaces. The property's location is ideal, within walking distance of the waterfront, Main Street, the downtown market, and numerous restaurants, breweries, and shops. The permitted zoning allows for short-term rentals (less than 90 days), a significant advantage in a market with limited competition due to restrictive zoning. The property is in a non-flood zone and offers a 7.44% cap rate with a pro-forma cap rate of 7.70%. The asking price is $2,299,000, representing a compelling value-add investment opportunity. The property features 4 keys and 4 parking spaces. Its proximity to attractions like the Dunedin Marina, Edgewater Park, TD Ballpark, and Clearwater Beach further enhances its investment potential. This is a fee simple ownership.

Location Insight

City

Dunedin

County

Pinellas

State

Florida

Latitude

28.011

Longitude

-82.7879

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