Jim Hicks - Commercial Real Estate Showcase

Jim Hicks Property Listings
Hoadley Donohue Real Estate
256 Worth Ave
Suite 210
Palm Beach, FL 33480-6049

1700 S Federal - Shangri-la Motel

Lake Worth, FL 33460-5840 - Palm Springs/Lake Worth Submarket

Property Type:Hospitality Number of Rooms:22 Status:Existing Year Built:1990
Stories:2 Building Size:10,979 SF Land Area:.48 AC (20,909 SF)
For Sale Price:$2,373,000 Price/Room:$107,864 Cap Rate:-

Parking:3.48 Parking Spaces / 1,000 SF

Location Corner: NE

Property Description: Motel

Sale Notes:
CASH COW !!! All Licenses in place, and open, 22 units with pool and plenty of parking. 1 elec. and water meter. New 12,000 btu A/C's in all rooms with newer refrigerators and microwaves. 900 sq ft owner/manager apt. has C/A/H. Below this is 900 sq ft downstairs office. 3 new washers/dryers for motel use. 32 security camera's. 20 units have been recently remodeled, painted, and new beds, furniture, art, and 32'' flat screen TV's.All rooms are tiled. At sellers discretion he is renting out very few rooms to cover expenses as he turns away 6-10 people a day. This is a cash deal only!! Proof of funds needed to show or put offers in. Let your experienced motel investor do the math! Water Tower Commons (74 acre project) has started building less than a 1/4 mile away, Lantana's 'City Place'

Hoadley Donohue Real Estate
Jim Hicks
(561) 838-9555

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