561-281-6656
1505 Belvedere Rd, West Palm Beach, FL for Sale
Hospitality - FOR SALE
1/27
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1505 Belvedere Rd
West Palm Beach, FL 33406


HIGHLIGHTS

  • Situated near Palm Beach International Airport and major transportation routes.
  • Property benefits from steady demand from business and leisure travelers.
  • The Property is experiencing tremendous revenue growth (47% year over year) which is expected to continue.
  • The surrounding area’s numerous multifamily developments and increasing amenities drive local economic expansion and enhance lodging demand.
  • Opportunities to improve occupancy rates, align with market performance benchmarks, and optimize revenue management strategies.
  • IHOP does not utilize the full space and is well below market, creating huge upside to re-lease the space.

OVERVIEW

On behalf of ownership, the Colliers | South Florida Investment Services Team, as the exclusive agent, is pleased to present for sale the Quality Inn Palm Beach International Airport and IHOP located at 1505 Belvedere Road (the “Property”) in West Palm Beach, Florida. The Property features a 135 room hotel and 6,072 SF IHOP and is strategically located minutes from Palm Beach International Airport, a prime hub for both leisure and business travelers. The vibrant West Palm Beach submarket also benefits from proximity to key demand drivers including downtown attractions, corporate offices, the Palm Beach County Convention Center, and easy access to Interstate 95 and other major transportation routes. The Property is experiencing tremendous revenue growth (over 47% year over year) which is expected to continue. The strong growth underscores the property’s income-generating capability while presenting opportunities for operational enhancements to continue growing the income. The Property’s sole competitor in the immediate area was recently converted to a Delta Hotel by Marriott – and no longer competes with the Property due to increases rental rates. West Palm Beach is a growing hospitality market and the midscale hotel segment in this region benefits from consistent demand. The nearby development activity will also have positive impacts on property value by increasing local demand for lodging, enhancing the area attractiveness, and boosting corporate and business opportunities. The IHOP space is underutilized as the tenant is on a month to month lease and only occupies a portion of the building. There is significant upside potential to bring in a new restaurant tenant or rework the current operator’s lease. The Quality Inn Palm Beach International Airport and IHOP represents a compelling investment opportunity, combining stable income generation with significant growth potential driven by its prime location near a major airport and the ongoing multifamily development activity in the area. As West Palm Beach continues to expand as a vibrant economic and residential hub, the property is well-positioned to capitalize on increased lodging demand, boosting both revenue and long-term value. For additional information or to obtain and Offering Memorandum, please visit: QualityInnWPB.com

FOR SALE DETAILS

PRICE

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# OF ROOMS

135

CAP RATE

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TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quality Inn and IHOP

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1986

PARKING SPACES

117

LAND DETAILS

LAND ACRES

3.06 AC

LAND SF

133,294 SF

ZONING

GC

APN/PARCEL ID

74-43-43-29-00-000-5400

ASK ABOUT THIS PROPERTY

Bastian SchauerColliersMore Info
561-281-6656

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Bastian SchauerColliersMore Info
561-281-6656

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