Sleep Inn & Suites Niceville - Destin | 4577 E Highway 20
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Sleep Inn & Suites Niceville - Destin 4577 E Highway 20
58 Room Hotel Niceville, FL 32578 $7,313,280 CAD ($126,091 CAD/Room)
Investment Highlights
- Newly renovated property, no PIP required with a strong brand recognition
- Lack of available hotel properties market in the Florida panhandle beach destinations
- Absentee ownership - great potential to improve business.
- Opportunity to increase RevPAR to competitive set standards, exceed performance of competition with strong hands-on management and increased marketing
- High Barrier to Entry Market - Extensive timelines to construct new hotels in the Destin - Fort Walton Beach - Miramar beach area
Executive Summary
Property located in a highly desirable beach destination.
Newly and extensively renovated property, no PIP required.
Absentee ownership with growth potential and a perfect fit for owner-operator.
Newly and extensively renovated property, no PIP required.
Absentee ownership with growth potential and a perfect fit for owner-operator.
Data Room Click Here to Access
- Offering Memorandum
- Miscellaneous
Property Facts
| Price | $7,313,280 CAD | Building Size | 29,879 SF |
| Price Per Room | $126,091 CAD | No. Rooms | 58 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1997/2022 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 2.01/1,000 SF |
| Lot Size | 1.79 AC | Corridor | Interior |
| Price | $7,313,280 CAD |
| Price Per Room | $126,091 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.79 AC |
| Building Size | 29,879 SF |
| No. Rooms | 58 |
| No. Stories | 2 |
| Year Built/Renovated | 1997/2022 |
| Tenancy | Single |
| Parking Ratio | 2.01/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $281.28 CAD | - |
| Guest Room | 54 | $241.90 CAD | - |
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PROPERTY TAXES
| Parcel Number | 23-1S-22-0000-0001-024B | Improvements Assessment | $4,009,290 CAD |
| Land Assessment | $1,091,121 CAD | Total Assessment | $5,100,411 CAD |
PROPERTY TAXES
Parcel Number
23-1S-22-0000-0001-024B
Land Assessment
$1,091,121 CAD
Improvements Assessment
$4,009,290 CAD
Total Assessment
$5,100,411 CAD
zoning
| Zoning Code | MU-1 (Mixed Use - 1) |
| MU-1 (Mixed Use - 1) |
-
Sheeba Kalathil -
Shiv Shahi - Atlantic Realty Associates Inc.
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Presented by
Atlantic Realty Associates Inc.
Sleep Inn & Suites Niceville - Destin | 4577 E Highway 20
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