317 Byron Butler PkwyPerry, FL 32347

Property Details for 317 Byron Butler Pkwy

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.86 AC

Property size (Sq ft)

4,723 SF

Property type

Hotels

Property subtype

Motels

APN

23-04-07-03141-000

APU

23040703141000

Description

This exceptional investment opportunity presents a 33-room vintage Florida motel ideally situated at the intersection of Historic Highway 19 and Main Street in Perry, Florida. Boasting a prime location with a daily traffic count of 10,625 vehicles on Highway 19, this property offers significant potential for a savvy investor. The motel, built in 1954, retains its Old Florida charm while benefiting from its high-traffic location, just 55 miles south of Tallahassee and 166 miles from Tampa. This makes it a strategic location for tourists and corporate travelers alike, utilizing the heavily trafficked Highway 19 corridor. The property encompasses 2.86 acres and includes three buildings: two main buildings, each approximately 4,700 square feet, and a third, 1,728-square-foot building at the west end of the property, currently unusable. The total square footage is 11,166. An on-site office is also included. The property is commercially zoned and enjoys convenient proximity to downtown Perry. 2020 annual property taxes were $6,146. Net operating income (NOI) information is available upon request for qualified buyers. Owners are offering partial financing with 35% down at closing. In-person tours are available for well-qualified buyers. This is a rare chance to acquire a piece of Florida history with substantial income potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,012,804

  6.5%

  $934,896

  7%

  $868,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $789,031

  Geo Method

  $789,031

• Alternative Use

  Use

  Valuation

  Residential

  $1,020,634

  Hospitality

  $934,896

  Educational

  $777,822

  Medical

  $804,573

  Retail

  $1,209,946

Location Insight

City

Perry

County

Taylor

State

Florida

Latitude

30.1186

Longitude

-83.591

Property Tax & Assessments

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