11240 1st St - Hospitality FOR SALE


Treasure Island, FL 33706
$4,950,000 USD
503-616-8962
11240 1st St, Treasure Island, FL for Sale
$4,950,000 USD
Hospitality - FOR SALE
1/19
null | 10.5% Cap Rate

11240 1st St
Treasure Island, FL 33706


HIGHLIGHTS

  • 3 lots, almost half an acre of land across from Treasure Island Beach
  • 19 Units with 29 on-site parking spaces - unusual large amount for beach property
  • Owner Financing Available
  • 2 Boat Slips and one Boat Lift - more could be added
  • Can be operated as a Motel or Multifamily/Apartments

OVERVIEW

The Sea Jay Motel, prominently located at 11240 1st St, Treasure Island, Florida, is a prime investment opportunity that blends the timeless allure of Art Deco design with the vibrant lifestyle of Florida’s Gulf Coast. Situated just one and a half blocks from a picturesque beach and a marina with docking facilities, the motel is an ideal haven for guests seeking to immerse themselves in the coastal charm and myriad activities the area has to offer. With a strong 8% capitalization rate based on pro forma income, this investment stands out for those seeking substantial returns in the hospitality and real estate sectors within the dynamic Florida economy.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$517 USD /SF

# OF ROOMS

19

PRICE/ROOM

$260,526 {currency}

CAP RATE

10.5%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sea Jay Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1958

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

RM15

APN/PARCEL ID

23-31-15-43470-006-0010

ASK ABOUT THIS PROPERTY

Nathan DrakeMarcus & MillichapMore Info
503-616-8962

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Nathan DrakeMarcus & MillichapMore Info
503-616-8962

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.