54 Coastal HwyPanacea, FL 32346

Property Details for 54 Coastal Hwy

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.70 AC

Property size (Sq ft)

5,648 SF

Zone code

PUD

Property type

Hospitality properties

Property subtype

Motels

APN

12-6S-02W-000-03873-000

APU

126S02W00003873000

Description

Exceptional investment opportunity: The Oaks RV Resort & Motel, located at 54 Coastal Hwy, Panacea, FL 32346, presents a unique blend of hospitality assets. This stabilized Class B property boasts 35 total units, including 22 RV sites with full hookups, two newly constructed luxury bungalows (each with two bedrooms and two bathrooms), and 11 renovated motel rooms. Situated on 2.7 acres, this beachfront property offers concrete pads, paved roads, and city water and sewer. Current NOI is $184,598, with a pro-forma NOI of $206,781, yielding a current cap rate of 8.39% and a pro-forma cap rate of 8.99%. The asking price is $2,200,000, representing a price per unit of $62,857.14. Amenities include an on-site pool and hot tub, and a laundry facility. The property's location near the beach and the Capitol to the Sea Florida Bike Trail, along with proximity to the Mashes Sand Ramp, provides significant appeal to a wide range of travelers. This established business offers immediate cash flow and significant upside potential through further amenity additions and rate optimization. The property is not subject to a ground lease. This is a rare opportunity to acquire a thriving hospitality business in a desirable coastal location. The property consists of three buildings. APN: 12-6S-02W-000-03873-000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,212,759

  6.5%

  $1,119,470

  7%

  $1,039,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $943,563

  Geo Method

  $943,563

• Alternative Use

  Use

  Valuation

  Residential

  $1,222,136

  Hospitality

  $1,119,470

  Educational

  $931,386

  Medical

  $963,418

  Retail

  $1,448,822

Location Insight

City

Panacea

County

Wakulla

State

Florida

Latitude

29.9797

Longitude

-84.3843

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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