610 Donax St - Apartments FOR SALE


Sanibel, FL 33957
$2,199,999 USD
239-398-4317
610 Donax St, Sanibel, FL for Sale
$2,199,999 USD
Apartments - FOR SALE
1/5
null | 9.61% Cap Rate

610 Donax St
Sanibel, FL 33957


HIGHLIGHTS

  • Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel.
  • This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment.

OVERVIEW

This gem is a once in a lifetime opportunity for a buyer looking for an impressive income stream. This quaint three unit Inn is located in the Resort Zone and has always been rented as a daily rental. Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel for its shells, beaches and small town vibe. New Central Air Conditioner, new furniture and enhancements in upper unit. The other 2 units have been rebuilt in totality, ground up. Also new roof, new siding, new landscaping, we have focused on each part of the process with forethought and care to make this again a destination for guests throughout the Country and Internationally. This Inn has been rented on the major online accounts since 2017 and has built up a reputation for consistent bookings. 2024 calendar is already booking out, so a buyer will close with income already in place. In addition, many previous guests book direct and come back year after year. This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment without the volatility of other investment options. With all the working policies and procedures already in place, a new owner can virtually take over an established business, streamlined with proven efficiencies and income.

FOR SALE DETAILS

PRICE

$2,199,999 USD

PRICE/SF

$881 USD /SF

# OF UNITS

3

PRICE/UNIT

$733,333

CAP RATE

9.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.76 AC

LAND SF

163,828 SF

ZONING

C

APN/PARCEL ID

30-46-23-T2-01600.00CE

ASK ABOUT THIS PROPERTY

April NixonRe/max Under The SunMore Info
239-398-4317

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April NixonRe/max Under The SunMore Info
239-398-4317

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