19663 Us Highway 441High Springs, FL 32643

Property Details for 19663 Us Highway 441

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.96 AC

Property size (Sq ft)

3,317 SF

Zone code

C3

Property type

Hospitality properties

Property subtype

Motels

APN

00759-000-000

APU

759000000

Description

This exceptional turnkey motel opportunity in High Springs, Florida, presents a compelling investment prospect. Located at 19663 NW US Hwy 441, this established property boasts 19 oversized guest units and two owner suites, totaling 23 beds across 7,370 square feet. Built in 1948, the property comprises two single-story buildings situated on a generous 1.96-acre lot. The C3 zoning allows for a variety of potential uses and expansions, enhancing the property's long-term value. The motel enjoys a prime location just five minutes from the renowned Ginnie Springs, a significant draw for tourists and outdoor enthusiasts. The property's strong financial performance is highlighted by a Pro-Forma NOI of $275,000 and a 7.86% Pro-Forma Cap Rate, indicating a healthy return on investment. The asking price is $3,500,000. The seller is motivated and open to offers. This well-maintained property shows no deferred maintenance, making it an ideal acquisition for an investor seeking immediate cash flow and significant upside potential. The property is ready for a new owner to step in and continue its success. Alachua County location provides access to a thriving tourism market.

• CAP approach

  CAP return

  Valuation

  6%

  $813,604

  6.5%

  $751,019

  7%

  $697,375

• Comparable approach

  Method

  Valuation

  Relative Method

  $530,135

  Geo Method

  $530,135

• Alternative Use

  Use

  Valuation

  Residential

  $819,895

  Hospitality

  $751,019

  Educational

  $624,839

  Medical

  $646,329

  Retail

  $971,972

Location Insight

City

High Springs

County

Alachua

State

Florida

Latitude

29.8356

Longitude

-82.5989

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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