811 Ocean Blvd Shores Terrace Motel & 819 Ocean Blvd Shores Terrace Motel

811 N. Ocean Blvd, Pompano Beach, FL

$9,899,900

Price

13,539 sqft

Building Size

0.055 acres

Lot Area

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Street
Map
Overview
Building Size
13,539 sqft
Lot Area
0.055 acres
Keys
35
Description

Summary: Pompano Beach
The Pompano Beach submarket contains around 7,800 hotel rooms, and houses 114 of the Fort Lauderdale market's
397 hotel properties.
Unlike the broader Fort Lauderdale market, Pompano Beach is characterized by smaller hotels: The average property in the submarket has 68 rooms. The market-wide average of 96 rooms-per-building is closer to the national norm.
The occupancy rate in the Pompano Beach hotel submarket collapsed to 19.3% in April of 2020, shortly after the onset of global pandemic that would severely impact the hospitality sector across the U.S. But with the low point of the pandemic now in the rearview mirror, conditions are improving. Around 180,000 rooms were sold in the month of December, a massive 47.3% increase compared to the same month the prior year. Twelve-month RevPAR in the Pompano Beach hotel submarket was up sharply as of
December, and climbed at a 61.1% year-over-year rate. That's stronger than the otherwise considerable 54.9% increase observed market-wide. There is a single 120-room hotel project underway in the Pompano Beach submarket. This marks a continuation of new development in the submarket: About 500 rooms delivered within the past three years, driving a sizable net inventory expansion even after factoring in a comparatively small amount of demolition activity. Pompano Beach recorded 14 hotel trades over the past year—considerably above the recent norm.

Zoining:
The Multiple-Family Residence 20 (RM-20) district is established and intended to accommodate primarily multifamily dwellings
(including townhouse development) including community residences and recovery communities at moderate densities. The district also accommodates single-family and two-family dwellings, zero-lot-line development, and continuing care retirement communities. Limited neighborhood-serving nonresidential uses, as well as office buildings, financial institutions, hotels/motels, and condo hotels, are allowed as Special Exceptions.

811 N. Ocean Blvd, Pompano Beach, FL
Parcel ID 48-43-31-10-0280 Municipality Name Pomp Beach. Subdivision Atlantic View 2 27-21 B
Alternate Parcel ID 4843-31-10-0280 Land Use Hotel State Use Hotel/Motel Zoning Code RM-20 Latitude 26.245302 Longitude -80.08783 Census Tract 031204 Land
Land Acres: 0.29 AC Land SF 12,602 SF
Legal Description
ATLANTIC VIEW NO 2 27-21 B LOT 1 LESS PART DESC AS COMM AT THE SW COR LOT 1 E 160.21 TO POB,CONT E 1.96 TO SE COR OF LOT 1,NELY 48.12,NLY & WLY 10.71, SWLY 58.83 TO POB BLK 3
819 N. Ocean Blvd, Pompano Beach, FL
Parcel ID 48-43-31-10-0270 Municipality Name Pompano Beach, Subdivision Atlantic View 2 27-21 B Alternate Parcel ID 4843-31-10-0270 Land Use Hotel State Use Hotel/Motel Zoning Code RM-20 Latitude 26.245653 Longitude -80.087742 Census Tract 031204
Land Acres 0.26 AC Land SF 11,347 SF
Legal Description
ATLANTIC VIEW NO 2 27-21 B LOT 14 LESS BEG AT NW COR LOT 14,E 155.02 TO POB,CONT E 3.15,SLY 56.52,SW 11.76,NE 67.33 TO POB BLK 2

Location
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