Investment Opportunity

Hospitality for Sale
Catylist Listing ID: 30729434
Property Subtypes: Motel, Other
Number of Units: 14 Units
Building Size (RSF): 4,896 SF
Gross Building Area: See Agent
Gross Land Area: 49,436 SF
Sale Price: $2,495,000
Unit Price: $178,214.29 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/29/2021

Overview / Comments

Investment opportunity!! Operating motel located just a few minutes’ drive from Bradenton Beach on the bay side of Cortez Road. The site has over 1.13 acres of land with ample parking and green space. The subject property is within close proximity to fabulous gulf beaches including Coquina Beach and Bradenton Beach and Longboat Key, as well as beautiful golf courses and excellent restaurants.

There are 14 units in total as well as laundry and storage buildings. Some units have been fully remodeled and there stands an opportunity to improve some of the units to increase rent prices. Rentals are paid weekly. A high percentage of the rentals are seasonal or longer-term rentals. Could be a great Airbnb opportunity!

Please do not disturb the tenants. Contact the office with any questions or inquiries or to schedule a viewing.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Public Records
Tax ID/APN: 7624600059
Zoning: C1A-DOWNTOWN DISTRICT C1A
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Cortez Rd.
Property Visibility: Good
Largest Nearby Street: Cortez Rd.
Highway Access: US-41, I-75, US-301
Airports: SRQ, Venice, Tampa
Total Number of Buildings: 7
Number of Stories: 1
Property Condition: Average
Year Built: 1958
Roof Type: Gable
Construction/Siding: Concrete
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,241 33,185 81,307
Median Age: 64.13 53.59 49.64
Households: 2,284 16,287 37,839

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