Treasure Island Motel

Hospitality for Sale
Catylist Listing ID: 30314834
Property Subtypes: Motel
Number of Units: 10 Units
Building Size (RSF): 3,434 SF
Gross Building Area: See Agent
Sale Price: $1,995,000
Unit Price: $199,500 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/24/2018

Overview / Comments

WOW, TREASURE ISLAND TURN KEY VACATION RENTAL MOTEL. VIRTUALLY EVERY INCH OF THIS PROPERTY HAS BEEN POLISHED WITH THE BEAUTY OF IT FEELING LIKE HOME. IT IS OWNER OPERATED AND THEY HAVE RENOVATED THE ROOMS WITH FASHION, DESIGN AND STYLE. OUTSIDE, THE PROPERTY IS IMMACULATE AND GORGEOUS WITH THE BEACH ACROSS THE STREET. THERE ARE 10 UNITS WITH THE OWNER'S QUARTERS AND OFFICE. THE LICENSE STATE 13 UNITS WHICH THE OWNERS QUARTERS COULD BE CONVERTED TO RENTALS. WITH 13 PARKING SPACES ON 3 LOTS (LESS ROAD) THIS IS A 10,302 SQUARE FOOT PROPERTY AND THE ZONING REQUIREMENTS FOR NEW CONSTRUCTION SHOULD BE VERIFIED WITH THE CITY. NEW CONSTRUCTION COULD HAVE A GULF VIEW. THE PROPERTY GROSS IS APPROXIMATELY $305,000 A YEAR AND HAS ROOM FOR INCREASE WITH THE POPULARITY OF TREASURE ISLAND BEACHES. THE DRIVE BY TRAFFIC ON GULF BLVD. IS FINANCIALLY KEY EXPOSURE. COME AND BE PART OF THE "ISLAND LIVING" EXPERIENCE WITH AN INCOME PROPERTY. (BUYERS ARE RESPONSIBLE TO VERIFY INFORMATION ON THIS PROPERTY AND LISTING.)

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $7,944 (Annual)
Gross Operating Income $305,000 (Annual)
Loan Amount $575,000

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 153115177840170040
Zoning: RESORT MEDIUM 30
Retail Clientele: Family, Business, Traveler, Tourist, Recreation
Property Located Between: JOHN PASS AND DOWNTOWN TREASURE ISLAND
Property Visibility: Excellent
Largest Nearby Street: GULF BLVD
Feet of Frontage: 132
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1952
Roof Type: Gable
Construction/Siding: Block, Concrete, Stucco
Exterior Description: BEAUTIFUL COURTYARD WITH SEVERAL FOUNTAINS AND A BREAKFAST BUFFET AREA.
Total Parking Spaces: 13
Parking Type: Surface
Air Conditioning: Window Unit
Zoning Description: RESORT/MEDIUM 30
In Flood Plain?: Yes
Lot Frontage: 132
Lot Depth: 88
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: 3 LOTS (LESS RD)
Legal Description: CONEY ISLAND BLK 17, LOTS 4,5 AND 6 LESS RD (SEE N23-31-15)

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,272 51,462 165,266
Median Age: 54.42 52.97 49.11
Households: 2,993 26,185 77,683

Contact

Photograph of Listing Agent

Mel Lenehan PA

Charles Rutenberg Realty
CE-FL Member
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