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$990,000
Est. payment /mo
2,550 SqFt
UPDATED:
10/22/2024 07:51 PM
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 2,550 sqft
Price per Sqft $388
MLS Listing ID A11592284
HOA Y/N No
Year Built 1982
Annual Tax Amount $7,737
Tax Year 2023
Lot Size 6,751 Sqft
Property Description
The hostel, located at 1112 NE 5TH AVE, is a duplex with eight rooms and sixteen beds. It is strategically located a few minutes from Las Olas Boulevard near Fort Lauderdale airport, The Galeria at Fort Lauderdale, Port Everglades, and the Bonnet House. The property is a classic add-value investment, and a savvy investor can significantly increase the return on his investment. Its actual NOI is $93,696, rendering a Cap Rate of 9.46%. The property is also available without the business for $890,000 (ONLY THE REAL ESTATE).
Location
State FL
County Broward
Area 3370
Others
Tax ID 494234040940
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Brokers, LLC