Offering Memorandum Pousada Suites Motel Redevelopment Hollywood, FL
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Property Name Table of Contents 1. 2. RECENT SALES 3. DEMOGRAPHICS
description
POUSADA SUITES MOTEL REDEVELOPMENT 2901 North Ocean Drive Hollywood, FL 33019 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 #: 51-42-12-02-0730 DEMOGRAPHICS vi
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
Aerial Photo RECENT SALES DEMOGRAPHICS viii
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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
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HYDE BEACH RESORT CONDO RESIDENCE COMING SOON TO HOLLYWOOD BEACH RECENT SALES DEMOGRAPHICS xiii
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Recent Sales RECENT SALES
RECENT SALES POUSADA SUITES MOTEL 2901 N OCEAN DRIVE HOLLYWOOD, FL 33019 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 33019 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 33019 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 33019 CLOSE OF ESCROW: 3/4/2016 YEAR BUILT: 1970 SALE PRICE: $3,500,000 TOTAL ROOMS: 15 PRICE / ROOM: $233,333 xvi
Demographics DEMOGRAPHICS
DEMOGRAPHICS Regional Map Local Map RECENT SALES DEMOGRAPHICS xviii
DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xix
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DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxi
DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxii
DEMOGRAPHICS RECENT SALES DEMOGRAPHICS xxiii
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