Pousada Suites Motel Redevelopment

Transcription

1 Offering Memorandum Pousada Suites Motel Redevelopment Hollywood, FL

2 CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. ( M&M ) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

3 exclusively listed Exclusively listed by: OFFICES THROUGHOUT THE U.S AND CANADA

4 Property Name Table of Contents RECENT SALES 3. DEMOGRAPHICS

5 description

6 POUSADA SUITES MOTEL REDEVELOPMENT 2901 North Ocean Drive Hollywood, FL OFFERING SUMMARY Purchase Price $3,850,000 Total Number of Rooms 17 Price/Room $226,471 Year Built / Renovated 1952 Lot Size Type of Ownership 13,935 SF Fee Simple RECENT SALES THE OFFERING Assessor s Parcel #: DEMOGRAPHICS vi

7 Investment Highlights Exellent Development Opportunity Prime Location Near Hollywood Beach Boardwalk, Offering Dining, Shopping & Entertainment. 5.1 Miles From Fort Lauderdale-Hollywood Iternational Airport Minutes From Port Everglades and The Seminole Hard Rock Casino Investment Overview Marcus& Millichap is pleased to present the opportunity to acquire Pousada Suites Motel. This motel is in an excellent location; only one block from Hollywood Beach. The approximately 7,800 square foot motel is comprised of three buildings, two small one-story structures and one two-story structure. The motel consists of 17-units with a mix of efficiencies and one bedroom suites that are all fully furnished. Amenities include fully equipped kitchens, coin washer/dryers, room service, gas BBQ grill, heated pool, lounge/sun deck and free parking. Pousada Suites Motel is located in Hollywood, Florida, which is in southeastern Broward County. The property is close to the Intra-Coastal Waterway and beautiful Hollywood Beach, which has the famous Boardwalk, offering dining, shopping, and entertainment. Hollywood Beach has been recently named first on a list of the finest beaches in South Florida. Just minutes away from the property is Port Everglades, the Fort Lauderdale International Airport, the Seminole Hard Rock Casino, dog and horse tracks, deep sea fishing and golf courses. There are many new developments taking place in the area that will help raise occupancy and ADR in the future. The most notable of these new developments is the recent construction of Margaritaville Hollywood Beach Resort located less than one mile from the street. New owners will benefit from the redevelopment trend in the area and from the properties zoning within the city of Hollywood s BRT-25 district. Within this district, developers are allowed to build a maximum of 25 residential units or 50 hotel units per acre. This is an excellent opportunity to invest in one of the most promising hotels markets in Florida. RECENT SALES DEMOGRAPHICS vii

8 Aerial Photo RECENT SALES DEMOGRAPHICS viii

9 RECENT SALES DEMOGRAPHICS ix

10 RECENT SALES DEMOGRAPHICS x

11 RECENT SALES Margaritaville Hollywood Beach Resort is on track for a Summer 2015 completion. Designed to offer an extensive array of amenities combined with degree of hospitality, service and attention to detail, the 349-room 17-story resort will be the perfect setting for guest to escape the everyday and just relax. Margaritaville will bring an entirely different perspective to South Florida with its unique, authentic, no worries, tropical vibe and the feeling of escape that is experienced upon arrival. DEMOGRAPHICS xi

12 RECENT SALES DEMOGRAPHICS xii

13 HYDE BEACH RESORT CONDO RESIDENCE COMING SOON TO HOLLYWOOD BEACH RECENT SALES DEMOGRAPHICS xiii

14 RECENT SALES DEMOGRAPHICS xiv

15 Recent Sales RECENT SALES

16 RECENT SALES POUSADA SUITES MOTEL 2901 N OCEAN DRIVE HOLLYWOOD, FL TOTAL ROOMS: 17 YEAR BUILT: 1952 SALE PRICE: $3,850,000 PRICE / ROOM: $226,471 RECENT SALES WALNUT MOTEL APARTMENTS 333 WALNUT STREET HOLLYWOOD, FL CLOSE OF ESCROW: 5/11/2015 YEAR BUILT: 1956 SALE PRICE: $1,600,000 TOTAL ROOMS: 6 PRICE / ROOM: $266,667 MARLIN 311 NEBRASKA STREET HOLLYWOOD, FL CLOSE OF ESCROW: 11/13/2015 YEAR BUILT: 1941 SALE PRICE: $2,090,000 TOTAL ROOMS: 10 PRICE / ROOM: $209,000 DEMOGRAPHICS THE NEVADA 322 NEVADA STREET HOLLYWOOD, FL CLOSE OF ESCROW: 3/4/2016 YEAR BUILT: 1970 SALE PRICE: $3,500,000 TOTAL ROOMS: 15 PRICE / ROOM: $233,333 xvi

17 Demographics DEMOGRAPHICS

18 DEMOGRAPHICS Regional Map Local Map RECENT SALES DEMOGRAPHICS xviii

19 DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xix

20 DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xx

21 DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxi

22 DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxii

23 DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxiii

24 exclusively listed Exclusively listed by: OFFICES THROUGHOUTTHEU.SANDCANADA