2398 Singleton AveMims, FL 32754

Property Details for 2398 Singleton Ave

Year built

1940

Construction

WOOD

Lot size

0.43 AC

Property size (Sq ft)

3,436 SF

Zone code

RU-1-13

Property type

Hospitality properties

Property subtype

Bed & breakfasts

APN

21-35-18-00-00818.0-0000.00

APU

9223372036854775807

Description

This historic 2-story motel, originally built in 1859 and extensively renovated in 1949 and 2022, presents a unique investment opportunity in Mims, Florida. Boasting 6 bedrooms and 6 bathrooms, this 2,680 square foot property operates as a successful bed and breakfast with strong bookings and excellent reviews. Recent upgrades include new dual-zone AC units and ductwork, a new septic system (2020), solar panels (2020), fresh paint (2022), updated landscaping, a new parking lot, and exterior security cameras. The property is zoned for bed and breakfast use and benefits from its proximity to numerous attractions, including wedding venues, the Kennedy Space Center, Merritt Island Wildlife Refuge, Playalinda Beach, and the Cape Canaveral National Cemetery. Its location is also convenient to the Rails to Trails, attracting cyclists and kayakers, particularly during the summer bioluminescence season. Adding to its income potential, a detached garage is accessible via a second driveway off SR46, and an RV space in the rear generates additional rental income ($800/month Oct-Mar, $600/month Apr-Sept). Financial details are available upon request. This turnkey property is offered at $580,000. The property is privately owned.

• CAP approach

  CAP return

  Valuation

  6%

  $927,282

  6.5%

  $855,952

  7%

  $794,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,386,648

  Geo Method

  $1,267,954

• Alternative Use

  Use

  Valuation

  Residential

  $934,451

  Hospitality

  $855,952

  Educational

  $712,142

  Medical

  $736,634

  Retail

  $1,107,777

Location Insight

City

Mims

County

Brevard

State

Florida

Latitude

28.6636

Longitude

-80.849

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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