1255 Hypoluxo RdLantana, FL 33462

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

Hotels

Property subtype

Motels

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.

• 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

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

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