138 S Dixie Hwy - Hospitality FOR SALE


Lantana, FL 33462
$4,350,000 USD
954-501-5020
138 S Dixie Hwy, Lantana, FL for Sale
$4,350,000 USD
Hospitality - FOR SALE
1/1
null | 8.55% Cap Rate

138 S Dixie Hwy
Lantana, FL 33462


OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present to market the Barefoot Mailman Motel, which is a 22 room motel located at 138 S Dixie Highway in Lantana, Florida. 138 S Dixie Highway is a 22-room, one-story motel built in 1952 with concrete block construction, a flat roof, and mini-split AC units throughout. Each unit is equipped with either a full kitchen or a kitchenette and has hurricane impact windows. The motel rooms have had an average nightly rate of $115. The unit mix consists of (18) Efficiencies, (2) Studios, and (2) one-bedroom / one-bathroom units. This motel offers investors the opportunity to acquire a fully renovated motel situated less than a mile from the beach and intracoastal in a market with an extremely high barrier to entry for competition.

FOR SALE DETAILS

PRICE

$4,350,000 USD

PRICE/SF

$629 USD /SF

# OF ROOMS

25

PRICE/ROOM

$174,000 {currency}

CAP RATE

8.55%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Barefoot Mailman Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,710 SF

ZONING

C1

APN/PARCEL ID

40-43-45-03-14-003-0301

ASK ABOUT THIS PROPERTY

Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

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Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.