3086 Harbor DrFort Lauderdale, FL 33316

Property Details for 3086 Harbor Dr

Year built

1951

Construction

CONCRETE

Lot size

0.31 AC

Property size (Sq ft)

10,519 SF

Zone code

RMH-25

Property type

Hospitality properties

Property subtype

Motels

APN

50-42-12-24-0170

APU

504212240170

Description

This exceptional investment opportunity presents a fully renovated, 39-room boutique hotel ideally situated in Fort Lauderdale, Florida. The property boasts two buildings, each three stories high, constructed in 1951 and completely modernized in 2019. The hotel features a mix of 24 rooms in one building and 15 in the other, all equipped and ready for immediate occupancy. Amenities include two inviting pools, a convenient on-site industrial laundry, and a versatile conference room. The property also offers attractive outdoor spaces such as roof patios and a barbecue facility, along with a bar and lounge area, enhancing guest experience and rental potential. Its prime location places it just steps from the beach, two miles from the Broward Convention Center, and three miles from Port Everglades, making it highly attractive to both leisure and business travelers. The hotel's design incorporates suites and deluxe features, creating a high-value proposition for guests. The property sits on two parcels totaling over 26,000 square feet, offering significant redevelopment potential. With its strong income generation and prime location, this hotel represents a compelling investment opportunity in the thriving Fort Lauderdale market. The asking price is $14,999,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,274,564

  6.5%

  $3,945,751

  7%

  $3,663,912

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,601,763

  Geo Method

  $10,601,763

• Alternative Use

  Use

  Valuation

  Residential

  $4,307,614

  Hospitality

  $3,945,751

  Educational

  $3,282,818

  Medical

  $3,395,720

  Retail

  $5,106,606

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1085

Longitude

-80.1078

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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