Florida Beachfront Value-Add Resort Hotel For Sale, Southeast Region

Property Description

Florida Beachfront Value-Add Resort Hotel For Sale

Rare, off-market, home run value-add hotel opportunity.

Approx. 140 rooms.

Option available to add 75 more rooms.  

This is a resort hotel located in western Florida on the beach, directly on the water.

Family owned hotel.

Option available to add 75 more rooms.

No brand.

Almost a 10 plus cap rate.

As of 10/19/19, this confidential offering has only been shown to 2 other buyers.

Both buyers have strong interest, however, as of 10/19/19, there is no LOIs or contracts in place.

*6 Year Forecast

..............ADR....Rev Par...*Gross Income......NOI.................Cap Rate.....IRR/ROI
Year 1....$170..$137........$18,640,497.........$6,100,207.....10.00%........12%
Year 2....$182..$152........$21,050,178.........$7,367,562.....12.40%........34%
Year 3....$192..$160........$22,102,686.........$7,735,940.....12.90%........37%
Year 4....$201..$168........$23,207,820.........$8,122,737.....13.53%........40%
Year 5....$211..$176.4.....$24,368,211.........$8,528,873.....14.20%........44%
Year 6....$222..$185.22...$25,586,621.........$8,955,317.....15.00%........47.3%

Projected Value: 7.5 cap optimally managed with five year hold: $119,404,227

*Assumes purchase price of $60,000,000 with 1st year increase of 10% in ADR and Rev Par and 5% each year after and 80% occupancy with 35% of gross income equaling net operating income. NOI/Purchase Price and IRR based on 80/20 loan amortized over 30 years at 4.75% interest.

Buyer is responsible for buy-side commission.

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The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.