551664 Us-1Hilliard, FL 32046

Property Details for 551664 Us-1

Year built

1950

Property size (Sq ft)

10,480 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional value-add motel opportunity in Hilliard, Florida, presents a compelling investment prospect. The Dixie Motel boasts 20 keys across two single-story buildings totaling 10,480 square feet, constructed in 1950. Currently operating at 70% occupancy (projected to reach 100% by June 5th, 2024), the property generates a pro-forma NOI of $129,000, yielding a 13.59% pro-forma cap rate at an asking price of $995,000. The motel features a manager's apartment and a restaurant on the premises, offering additional income streams and potential for expansion. The concrete and block construction ensures low maintenance, while its convenient location provides easy access from major roads and ample parking. The property is zoned for hotels and motels (HOTELS & MOTELS-003900), offering flexibility for future development and upgrades. This established business presents a strong foundation for growth, with opportunities to increase occupancy and rental rates through targeted improvements and renovations. The existing weekly and monthly rental options provide a stable income base, while the on-site restaurant adds further diversification. This is an ideal entry point for investors seeking a proven hospitality asset with significant upside potential in a growing market. Showings are strictly by appointment only.

Location Insight

City

Hilliard

County

Nassau

State

Florida

Latitude

30.6893

Longitude

-81.9161

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