908 15Th AveFort Lauderdale, FL 33304

Property Details for 908 15Th Ave

Year built

1957

Construction

CONCRETE

Lot size

0.15 AC

Property size (Sq ft)

2,060 SF

Zone code

RMM-25

Property type

Motels

APN

49-42-34-05-8030

APU

494234058030

Description

This fully renovated, 8-key hotel in Fort Lauderdale's Victoria Park offers an exceptional investment opportunity. Built in 1957 and extensively renovated in 2021, this two-story, 2,060 square foot property sits on a 0.15-acre lot (APN: 49-42-34-05-8030) and is zoned RMM-25. Its prime location near Las Olas Boulevard, the beach, and the Seminole Hard Rock Hotel & Casino, within the high-traffic corridor of Sunrise Boulevard (approx. 60,600 vehicles daily), ensures strong demand. The property benefits from its proximity to numerous attractions, including Bonnet House Museum & Gardens, the Museum of Discovery and Science, and Nova Southeastern University, all within the Miami-Fort Lauderdale-Pompano Beach MSA (population over 6 million). Currently operating as a short-term rental/Airbnb, this hotel presents significant upside potential for an owner-operator, given its current absentee ownership. The asking price is $1,900,000 ($922.33/sq ft). This represents an entry-level price point for a fully renovated hotel in a highly sought-after South Florida market with limited hotel supply. The property's success is further supported by its location amongst million-dollar homes and townhomes in one of Fort Lauderdale's most affluent neighborhoods. This is a rare opportunity to acquire a profitable, established hospitality business in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $695,635

  6.5%

  $642,125

  7%

  $596,259

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,430,128

  Geo Method

  $1,430,128

• Alternative Use

  Use

  Valuation

  Residential

  $701,014

  Hospitality

  $642,125

  Educational

  $534,240

  Medical

  $552,614

  Retail

  $831,041

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1359

Longitude

-80.1283

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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