409 Crescent Ave - Hospitality FOR SALE


Avalon, CA 90704- Catalina Island
$9,500,000 USD
949-622-3406
409 Crescent Ave, Avalon, CA for Sale
$9,500,000 USD
Hospitality - FOR SALE
1/41
null | 9.96% Cap Rate

409 Crescent Ave
Avalon, CA 90704
Catalina Island


HIGHLIGHTS

  • Rare Boardwalk/Main Beach Fee-Simple Parcel
  • Turn-Key Condition
  • Near Double Digit existing CAP Rate
  • Huge Passive Income from NNN Retail Space Leases

OVERVIEW

Atlas Hospitality Group is pleased to offer for sale the Hotel Mac Rae, a 24-room beachfront property located in Avalon Bay on Catalina Island. The hotel is situated directly on Crescent Avenue, Avalon’s main pedestrian promenade. The Hotel has experienced an extraordinary increase in room income of over 30% YTD. This is also a VERY rare fee-simple offering directly on the boardwalk. The property features NNN income from three retail shop tenants on the ground floor while all guest rooms are located on the upper floors. Hotel amenities include complimentary continental breakfast, Wi-Fi, beach towels, luggage storage, and an after-check-out shower for the convenience of the hotel guests. Hotel Mac Rae benefits from its prime oceanfront location in one of California’s most exclusive island destinations, a market characterized by strong year-round leisure demand, robust RevPAR growth, and limited hotel supply. Surrounded by shops, restaurants, and outdoor attractions, the property offers both a stable income stream from its retail component and operational upside through revenue management strategies and continued hospitality enhancements. As stated above, the Hotel has benefited from huge YTD income growth. The three NNN leased retail spaces generate a significant of passive income. Based on YTD hotel income growth and NNN leased spaces, this offering will generate an immediate double digit CAP rate for investor.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$629 USD /SF

# OF ROOMS

24

PRICE/ROOM

$395,833 {currency}

CAP RATE

9.96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hotel Mac Rae

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

C1

APN/PARCEL ID

7480-016-005

ASK ABOUT THIS PROPERTY

Robert FeistAtlas Hospitality GroupMore Info
949-622-3406

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

Robert FeistAtlas Hospitality GroupMore Info
949-622-3406

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