230 State Road 436Altamonte Springs, FL 32714

Property Details for 230 State Road 436

Year built

1973

Construction

CONCRETE BLOCKS

Lot size

5.60 AC

Property size (Sq ft)

68,617 SF

Property type

Hotels

APN

14-21-29-529-0000-0020

APU

14212952900000020

Description

This exceptional 263-key hotel, the Opal Hotel & Suites, presents a compelling investment opportunity in Altamonte Springs, Florida. Situated on a 5.6-acre lot (APN: 14-21-29-529-0000-0020), this four-story property boasts 126,205 square feet and underwent a complete renovation in 2021. Originally built in 1971, the hotel benefits from its strategic location near Interstate-4 and State Road 436, offering excellent visibility and accessibility with an average annual daily traffic count of approximately 56,500 vehicles on the adjacent section of State Road 436. The MOC-2 zoning permits diverse redevelopment options, including potential conversion to multifamily housing to capitalize on the area's high demand for rental units. The property's proximity to Downtown Orlando (approximately 10 miles) provides access to a robust economy, diverse employment opportunities, and a thriving tourism sector. Furthermore, its location near affluent areas like Winter Park, Maitland, and Winter Springs enhances its appeal. Over $3.5 million in capital improvements were completed between 2019 and 2021. This independent hotel offers significant value-add potential through operational efficiencies, repositioning strategies, and the addition of new amenities. The property's size and location within the Orlando MSA, a top-performing metropolitan statistical area and major tourism hub, make it an attractive investment for those seeking a sizable position in a high-growth market.

• CAP approach

  CAP return

  Valuation

  6%

  $13,266,564

  6.5%

  $12,246,059

  7%

  $11,371,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,000,332

  Geo Method

  $18,000,332

• Alternative Use

  Use

  Valuation

  Residential

  $13,369,138

  Hospitality

  $12,246,059

  Educational

  $10,188,577

  Medical

  $10,538,978

  Retail

  $15,848,898

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Latitude

28.6602

Longitude

-81.391

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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