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5929 Ramona Boulevard - Diamond Inn, Jacksonville, FL

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5929 Ramona Boulevard - Diamond Inn

Jacksonville, FL 32205-4755 - Riverside Submarket

Property Type:Hospitality Number of Rooms:160 Status:Existing Year Built:1974
Stories:3 Building Size:52,516 SF Land Area:2.48 AC (108,242 SF)
For Sale Price:$2,000,000 Price/Room:$12,500 Cap Rate:-

Parking:1.64 Parking Spaces / 1,000 SF

Sale Notes:
170 rooms Hotel for SALE for only $2M.
This is about $10K per room with potential yearly GOI of $10K a year per room. and NOI of $800K to $900K a year.
The hotel was built in 1974 and recently purchased by a private investor and managed since by temporary management group. As of today the hotel serves both casual visitors and permanent tenants in a weekly of $190.00 per room& Focusing on marketing strategy as the following:
$190 a day x 52 weeks a year X 170 rooms, can generate gross income of $1,679,600 Apart from expected income from services such as grocery store, laundry services and vending machine
Operation expenses are -+40%
According to this formula, it can be an investment opportunity that can get you return on investment in a short period time of less than two years and makes the investment worthwhile, one of a kind and unusual.

Ï% The total area of the hotel' s building is 5,188 square
Meters, covers an area of 3 floors.
Ï% Floor area + - 10.5 Acer
Jacksonville is the most populated city in Florida with 808,000 inhabitants - it is the 12th largest city in the country. Even though most of the people who live here are younger and working, as a retirement community for active adults 55+ it is has much to offer in terms of culture, recreation, and things to do. The metropolitan area population is over 1.3 million and growing rapidly.

Ocean Pointe Realty
Avi Dori
(305) 945-3838

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