2648 NE 32nd St - Hospitality FOR SALE


Fort Lauderdale, FL 33306
$4,999,000 USD
954-347-7913
2648 NE 32nd St, Fort Lauderdale, FL for Sale
$4,999,000 USD
Hospitality - FOR SALE
1/16
null | 5.29% Cap Rate

2648 NE 32nd St
Fort Lauderdale, FL 33306


OVERVIEW

Great income producer popular Fort Lauderdale boutique hotel, Casitas Coral Ridge, is a 16-unit garden-style hotel in prestigious Coral Ridge neighborhood 0.9 miles from the beach & experiencing an exceptional rental history. The property is within close proximity to main arteries of N Federal Highway & E Oakland Park Blvd., within steps to the Coral Ridge Mall and million dollars homes. Included are 2648 & 2640 NE 32 St. The hotel features 2 buildings including 4 two-bedroom adjoining suits & hotel rooms for a total of 8 units in each building. One unit is currently used as a reception/ office. Property encompasses 200 linear feet of frontage on a 0.45 acre site and buildings total 6,726 square feet. The parking ratio is 3.27/1,000 sq.ft. Fully equipped accommodations & owner invested over $100k last year in bathroom upgrades. Seller financing available inquire for details. Future build opportunity zoned RMM-25 for residential & hotel use & allows for the construction of up to 14 residential units & up to a 55’ high building. A companion site is also available for purchase separately and would increase unit count (2667 NE 32 Street).

FOR SALE DETAILS

PRICE

$4,999,000 USD

PRICE/SF

$743 USD /SF

# OF ROOMS

16

PRICE/ROOM

$312,438 {currency}

CAP RATE

5.29%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Casitas Coral Ridge

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1959

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,004 SF

ZONING

RMM-25

APN/PARCEL ID

49-42-24-01-0230,49-42-24-01-0240

ASK ABOUT THIS PROPERTY

Cindy GorsicaCompass CommercialMore Info
954-347-7913

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Cindy GorsicaCompass CommercialMore Info
954-347-7913

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