108 Royal Palm AveClewiston, FL 33440

Property Details for 108 Royal Palm Ave

Year built

1939

Construction

WOOD FRAME

Lot size

1.47 AC

Property size (Sq ft)

74,058 SF

Zone code

CL-C

Property type

Hotels

Property subtype

Motels

APN

3 34 43 01 010 0177-001.0

APU

334430101001770010

Description

The Clewiston Inn, located at 108 Royal Palm Avenue in Clewiston, Florida, presents a unique investment opportunity. This beautifully restored classical revival-style inn boasts 37,029 square feet on a 1.48-acre lot, situated on the shores of Lake Okeechobee. The property includes 57 guest rooms and suites, eight of which are apartments. All rooms have recently undergone upgrades, featuring new vinyl flooring and fresh paint. A new security camera system has also been installed. The inn's large banquet hall has recently been renovated with new tile and hosts Friday night entertainment, generating supplemental income. Currently operating at 100% occupancy (as of December 13th), the Clewiston Inn consistently maintains an occupancy rate between 85% and 100%. The property benefits significantly from the annual sugarcane festival in March, resulting in high revenue during that period. Conveniently located 60 miles west of West Palm Beach and 60 miles east of Fort Myers, the Clewiston Inn is ideally positioned to attract a wide range of clientele. Its versatile space is perfect for hosting corporate retreats, meetings, weddings, reunions, and other special events. This established and profitable business offers a compelling investment prospect for discerning buyers seeking a turn-key operation in a desirable location. The property's strong performance and consistent occupancy make it an attractive addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $25,860,094

  6.5%

  $23,870,856

  7%

  $22,165,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,413,416

  Geo Method

  $48,413,416

• Alternative Use

  Use

  Valuation

  Residential

  $26,060,040

  Hospitality

  $23,870,856

  Educational

  $19,860,272

  Medical

  $20,543,296

  Retail

  $30,893,756

Location Insight

City

Clewiston

County

Hendry

State

Florida

Latitude

26.7547

Longitude

-80.9328

CBSA code

17500

CBSA name

CLEWISTON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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