Contacts

John DeMarco

RE/MAX 5 Star Realty

(954) 453-1000

Property Details

Property Type Other
Property Size 10,697 SF
Lot Size 13,039 Acre
Year Built 1980
Date Updated Dec 27, 2023

POMPANO BY THE SEA RESUB 1-22 B LOTS 21 & 22 TOG/W LOT "B", BLK 8This property is located in an extremely desirable vacation area that boasts a true small beach town feel. The physical property consists of 10,697 leasable SF, well situated on a large 25,048 sf lot. The property has a total of 21 hotel rooms, large swimming pool, and a separate large building with a full commercial kitchen. This property is located in an extremely desirable vacation area that boasts a true small beach town feel. The physical property consists of 10,697 leasable SF, well situated on a large 25,048 sf lot. The property has a total of 21 hotel rooms, large swimming pool, and a separate large building with a full commercial kitchen. The entire property is fully renovated! Recent upgrades include new electric, new plumbing, new fire systems, new roofs, new HVAC, new flooring, new backup generators, new bathrooms and much more. An investor truly benefits from receiving a turn key apartment building. Perfect building for a hotel/motel. The hospitality industry is in huge demand and exploding in South Florida. This property is a true turn-key acquisition. All required licenses are in place for a new operator. This property is projected to gross $997k annual income with a conservative 80% occupancy rate. After an industry standard operating expenses of 37%, projected net annual income is $628k on pro-forma basis. This income will provide an investor with a strong 11% capitalization rate at a full asking price.

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Highlights

A+++ Location in Pompano Beach
One Block from the Beach
Fully renovated turn-key condition
11% Projected Cap Rate

Getting around

27/100
Walk Score ®
29/100
Transit Score ®
51/100
Bike Score ®

Powered by Walk Score ®

Location

City Pompano Beach, FL
Neighborhood Beach
Zip Code 33062
Market Fort Lauderdale

Points of Interest

Pompano Beach

3.31 miles
Cypress Creek

4.95 miles
Deerfield Beach

5.25 miles
Fort Lauderdale

9.21 miles
River House

9.53 miles
Esplanade Park

9.53 miles

Shell

0.71 miles
Marathon

1.13 miles
Sunoco

1.20 miles
Valero

1.35 miles
BP

2.09 miles
BP

2.13 miles
Westar

2.40 miles
RaceTrac

2.72 miles
Mobil

3.21 miles
Valero

3.25 miles

Pompano Beach Pier Parking Garage

0.77 miles
South Ocean Lot

4.11 miles
South Beach Lot

4.20 miles
Ambulance Parking

4.39 miles
Main Lot

4.64 miles
Fire Station Lot

4.69 miles
Hillsboro Lot

4.71 miles
Wyndham Parking

4.77 miles
Pier Lot

4.92 miles
North Beach Lot

4.95 miles

Seahorse Guesthouse Pompano Beach

0.12 miles
Fort Lauderdale Marriott Pompano Beach Resort & Spa

0.23 miles
Residence Inn by Marriott Fort Lauderdale Pompano Beach/Oceanfront

0.31 miles
Wyndham Sea Gardens

0.34 miles
Super 8 by Wyndham Pompano Beach

0.77 miles
Tru by Hilton Pompano Beach Pier

0.82 miles
Club Wyndham Santa Barbara

1.79 miles
Hampton Inn & Suites

2.18 miles
Residence Inn by Marriott Fort Lauderdale Pompano Beach Central

2.86 miles
The Forum

3.20 miles

Sears

1.04 miles
JCPenney

1.05 miles
Publix

1.12 miles
Ross

1.12 miles
Pompano Citi Centre

1.13 miles
Pet Supermarket

1.18 miles
Macy's

1.21 miles
Whole Foods Market

1.23 miles
Winn-Dixie

1.93 miles
Shoppers Haven

1.94 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Map of Property

1020 N. Riverside Dr.