Palm Villa Hostels- Investment Opportunity
Hospitality
for Sale
| Catylist Listing ID: |
30559449 |
| Property Subtypes: |
Hostel, Hotel, Motel
|
| Number of Units: |
3 Units |
| Building Size (RSF): |
6,680 SF |
| Gross Building Area: |
9,580 SF |
| Gross Land Area: |
0.38 Acres
|
| Sale Price: |
$3,500,000 |
| Unit Price: |
$1,166,666.67 Per Unit |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Business |
| Name of Establishment: |
Palm Villa Hostels |
| Sale Terms: |
Cash to Seller, Purchase Money Mortgage |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/25/2023 |
Overview / Comments
|
Florida Commercial Group is please to present for Sale Palm Villa Hostels, located at 801- 803 E. Palm Avenue and 1905 N. Taliafero Avenue. This is a Rare Investment Opportunity in the Tampa Heights Area of East Tampa. This Asset consists of 3 Historic Buildings offering 13 units that are leased individually and generating weekly and monthly rents. The entire Investment Portfolio is being Sold As- Is. 801 E. Palm Avenue offers 4 bedrooms, 2 baths and is 2,050 HSF. 803 E. Palm Avenue is 1,730 HSF and offers 5 bedrooms and 3 baths. 1905 N. Taliaifero Avenue offers 4 Bedroom and features 2,800 SF. There is onsite parking as well as common Street Parking giving ease of access to the property via Taliafero Avenue. Current Zoning of RM-24 Allows for Residential Mixed-Use up to 24 units or the Property may be converted to Commercial use as Professional Office or Redeveloped into a Small Office Complex or a Co-work Space. Nestled on the edge of Historic Tampa Heights and Historic Ybor City, this Location boasts a corner location surrounded by Restoration and New Development Happening in all Directions- a Terrific Opportunity to Invest in East Tampa! You may keep these three Buildings as current, Hotel/ Motel, upgrade the property for increased monthly income, convert to a greater yielding housing complex (Student Housing, ALF, Air BnB, etc…) or re-develop the site into to Professional Offices. CALL TODAY FOR A VIEWING.
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Additional Details
| Nearest MSA: |
Tampa-St. Petersburg-Clearwater |
| County: |
Hillsborough |
| Tax ID/APN: |
1829134XW000005000021A |
| Zoning: |
RM-24 |
| Retail Clientele: |
Family, Business, Traveler, Tourist, Recreation, Convention |
| Property Located Between: |
E. Palm Avenue and N. Taliafero Avenue |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Nebraska Avenue |
| Feet of Frontage: |
102 |
| Traffic/Vehicle Count: |
16,810 |
| Highway Access: |
Interstate 4, Interstate 275 |
| Airports: |
Tampa International Airport |
| Site Description: |
PROPERTY FEATURES
• Hotel/ Motel Asset Featuring 3 Buildings and 13 Rooms
• Property Operates as a high occupancy Hotel/ Motel and is perfect for an Owner/ Operator
• Excellent Bed and Breakfast Opportunity for Increased Monthly Income
• Property may be converted to Student Housing, ALF, Professional Offices or Single- Family Home Development
• Property may be torn down and developed into a New Condo Development
• 102’ of Frontage on Palm Avenue
• Adjacent to Interstate 275 (223,919 VTD)
• Situated Immediately West of Historic Centro Asturiano de Tampa
• Minutes from Downtown Tampa, Channelside and Ybor City |
| Area Description: |
Located directly on the corner of E. Palm Avenue and N. Taliaferro Avenue, Subject offers Great Frontage and Fantastic Visibility in the Bustling Tampa Heights District. Ybor City, Seminole Heights, Downtown Tampa and Channelside are all within 5-10 minute commute of this property. Located directly West of the busy intersection of Nebraska Avenue and Palm Avenue, this Property is Surrounded by a mix of Commercial Businesses and Residential/ Multi- Family Communities of East Tampa. Centrally located and offering easy access to Interstate- 4 and Interstate- 275. You’ll be in Downtown Tampa or just about anywhere else in the Tampa Bay Area within Minutes! PLEASE DO NOT DISTURB OCCUPANTS. Call Today for Additional Property Details. |
| Total Number of Buildings: |
3 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
| Year Built: |
1902 |
| Roof Type: |
Gable |
| Construction/Siding: |
Wood Frame |
| Average Occupancy Rate: |
100 |
| Parking Type: |
Surface |
| Parking Description: |
Parking onsite and street |
| Zoning Description: |
Residential Multiple-Family: This district provides primarily for medium density multiple-family residential development. Minimum lot size is 5000 square feet, 1 unit per 1815 (sq. ft.). Maximum height is 60 feet. |
| Lot Frontage: |
102 |
| Lot Depth: |
165 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
BONNIEHURST W 1/2 OF LOTS 2 AND 3 BLOCK 5 :: BONNIEHURST LOT 6 BLOCK 5 :: BONNIEHURST E 1/2 OF LOTS 2 AND 3 BLOCK 5 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
16,139 |
132,842 |
291,560 |
| Median Age: |
34.77 |
35.76 |
36.34 |
| Households: |
7,237 |
54,703 |
118,911 |
|
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The information presented herein is provided as is, without warranty of any kind.
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