4577 E Highway 20 - Hospitality FOR SALE
Niceville, FL 32578 |
$4,900,000 USD
561-713-3430
4577 E Highway 20
Niceville, FL 32578
HIGHLIGHTS
- Newly renovated property, no PIP required with a strong brand recognition
- Opportunity to increase RevPAR to competitive set standards, exceed performance of competition with strong hands-on management and increased marketing
- Lack of available hotel properties market in the Florida panhandle beach destinations
- High Barrier to Entry Market - Extensive timelines to construct new hotels in the Destin - Fort Walton Beach - Miramar beach area
- Absentee ownership - great potential to improve business.
FOR SALE DETAILS
PRICE
$4,900,000 USD
PRICE/SF
$164 USD /SF
# OF ROOMS
58
PRICE/ROOM
$84,483 {currency}
CAP RATE
Request Cap Rate
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Sleep Inn & Suites Niceville - Destin
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
-
STORIES
2
ROOM ENTRANCE
Interior
BUILDING CLASS
C
YEAR BUILT
1997
PARKING SPACES
60
LAND DETAILS
LAND ACRES
1.79 AC
LAND SF
77,972 SF
ZONING
MU-1
APN/PARCEL ID
23-1S-22-0000-0001-024B
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561-713-3430
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561-713-3430
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