714 Dixie HwyLake Worth Beach, FL 33460

Property Details for 714 Dixie Hwy

Year built

1981

Construction

CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

6,944 SF

Zone code

MU-DIXIE

Property type

Hospitality properties

Property subtype

Hotels

APN

38-43-44-21-15-221-0032

APU

38434421152210032

Description

This 19-key hotel in Lake Worth Beach, Florida, presents a compelling value-add investment opportunity. Located at 714 S Dixie Hwy, this two-story, 6,944 square foot property sits on a 14,096 square foot lot and was built in 1981. The hotel boasts a prime location with high traffic volume (13,700 AADT), offering significant potential for increased revenue. Its proximity to Palm Beach International Airport (10-minute drive) and the Lantana Sports Complex (7-minute drive) further enhances its appeal. Zoned MU-DIXIE (Mixed Use), the property offers untapped potential within Lake Worth Beach's thriving area. The asking price is $3,400,000, translating to $504.03 per square foot and $178,947.37 per key. This meticulously maintained hotel offers a blend of luxury and convenience, making it an attractive investment for those seeking a strong return. The property consists of one building and features 19 keys.

• CAP approach

  CAP return

  Valuation

  6%

  $2,182,670

  6.5%

  $2,014,772

  7%

  $1,870,860

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,473,804

  Geo Method

  $4,473,804

• Alternative Use

  Use

  Valuation

  Residential

  $2,199,546

  Hospitality

  $2,014,772

  Educational

  $1,676,266

  Medical

  $1,733,916

  Retail

  $2,607,526

Location Insight

City

Lake Worth

County

Palm Beach

State

Florida

Latitude

26.6068

Longitude

-80.0574

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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