17575 N US Highway 301 - Hospitality FOR SALE


Citra, FL 32113
$1,650,000 USD
609-304-8198
17575 N US Highway 301, Citra, FL for Sale
$1,650,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

17575 N US Highway 301
Citra, FL 32113


OVERVIEW

This offering is a combination of a 13-Unit Motel and a 10-space RV park on 3.5-acre MOL. Also included is a 1600 SF doublewide “2001” 3/2 MH. The bathhouse is located near the RV sector. The motel needs a little TLC and the park could use some paving. Factored into the projections is $150,000 for upgrades and repairs within year 1 of new ownership. Also, factored in is an increased income due to these upgrades and beginning in year 2, that would include $48,000 in average gross annual income on RV lot rents at $500/mo and $208,000 annual gross revenue for the motel offering $55 ADR. Expected annual occupancy for both the Motel and RV park is 80%. This offering includes: 3.5-Acres MOL (Zoned B-4) 13 Unit Motel (8,266 SF – Built 1953) Newer Roof: 2017 Exterior Paint: 2023 Septic/Well 10-Sp RV Park 1 Doublewide MH Current Income: $153,740 Gross Revenue $83,579 NOI RV Expansion Opportunity: The owner has indicated there is an opportunity to expand the RV sector of this property to 10 more spaces.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$272 USD /SF

# OF ROOMS

22

PRICE/ROOM

$75,000 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Orange Blossom Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1953

PARKING SPACES

20

LAND DETAILS

LAND ACRES

3.5 AC

LAND SF

152,460 SF

ZONING

B-4

APN/PARCEL ID

03659-000-00

ASK ABOUT THIS PROPERTY

Shawn DrudingCres Corp InternationalMore Info
609-304-8198

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Shawn DrudingCres Corp InternationalMore Info
609-304-8198

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