1255 Hypoluxo RdLantana, FL 33462

  • Hospitality properties
  • 12,768 SF
For Sale
$7,800,000 View listing

Property Details for 1255 Hypoluxo Rd

Year built
1987
Construction
WOOD
Lot size
3.84 AC
Property size (Sq ft)
12,768 SF
Zone code
C1
Property type
Hospitality properties
Property subtype
Hotels
APN
40-43-45-04-11-002-0030
APU
40434504110020030

Description

This 125-room Super 8 by Wyndham hotel in Lantana, Florida, presents a compelling investment opportunity. Located on a 3.84-acre lot directly off I-95, this property boasts high visibility and convenient access to major transportation routes. Built in 1987, the hotel features an exterior corridor design and is situated in the desirable Palm Beach County market, benefiting from a robust economy and strong tourism. The property includes amenities such as an outdoor pool and sun deck, and a guest laundry. While 35 rooms are currently unavailable (half awaiting inspection following renovations, with supplies secured for approximately 70 room renovations), significant recent renovations totaling approximately $600,000 have been completed over the past 36 months. The estimated cost for a change of ownership PIP is approximately $200,000, requiring verification by Wyndham Hotels. The hotel's location offers considerable upside potential, with historical room revenues ranging from $2.2 million to $2.7 million. The property's strategic location near Lantana Beach, Boynton Beach, and West Palm Beach, along with proximity to major attractions and Palm Beach International Airport (PBI), ensures a consistent flow of leisure and business travelers. The 2023 Net Operating Income (NOI) was $711,100, indicating strong performance and further growth potential. The property is zoned C1 and has four one-story buildings. This is a rare chance to acquire a well-positioned hotel with significant upside in a thriving market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,478,062
    6.5%
    $4,133,596
    7%
    $3,838,340
  • Comparable approach

    Method
    Valuation
    Relative Method
    $8,038,886
    Geo Method
    $8,038,886
  • Alternative Use

    Use
    Valuation
    Residential
    $4,512,686
    Hospitality
    $4,133,596
    Educational
    $3,439,104
    Medical
    $3,557,380
    Retail
    $5,349,716
1255 Hypoluxo Rd, Lantana, Florida

Location Insight

City
Lantana
County
Palm Beach
State
Florida
Latitude
26.5728
Longitude
-80.0647
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$74,715
$1,663,700
$2,085,489
$3,749,189
-
$1,663,700
$2,085,489
$3,749,189

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