Residence Inn by Marriott Boca Raton | 120 Rooms | 4.26 Acres

Highlights:

• 120-Key Residence Inn by Marriott
• Franchise Agreement in Place Through 2029
• $4.08M Room Revenue (T12 February 2025) | Strong RevPAR Upside
• 3-Year Avg. RevPAR Index of 119.9% | YTD Index at 86%
• Zoned M-3 / PID | Live Local Act Eligible for Multifamily Redevelopment
• Immediate Value-Add Opportunity Through Property Refresh and Operational Efficiencies

Description:

RI Marketplace Online Auction June 9-11, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2529/residence-inn-by-marriott-boca-raton-120-rooms-4.26-acres?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=hospitality_2529

Marcus & Millichap, in conjunction with RI Marketplace, is pleased to present the fee simple interest in the Residence Inn by Marriott Boca Raton, a 120-key extended-stay hotel located at 525 NW 77th Street, in the heart of Boca Raton, Florida. This offering represents an exceptional opportunity to acquire a high-performing asset in one of South Florida’s most desirable markets.

The Property sits on a 4.26-acre parcel and features 16 two-story buildings, offering 120 spacious guest suites and a robust amenity package including a fitness center, outdoor pool, whirlpool, basketball court, and ample surface parking with dual ingress/egress. Ownership has invested $700,000 in capital improvements since 2020, including upgrades to stairwells, pool lifts, carpeting, and mechanical systems. The hotel operates under a Residence Inn franchise agreement valid through 2029, providing operational stability for near-term investors or repositioning flexibility for long-term redevelopers.

The Property is zoned M-3 / PID (Planned Industrial Development) and currently operates under Use Code 3900 – Motel. While M-3 zoning is generally reserved for industrial and commercial uses, the site qualifies for multifamily redevelopment under Florida’s Live Local Act, allowing residential development by right if 40% of the units are designated affordable for households earning up to 120% of AMI. This creates an attractive dual-path investment: continue operations as a hotel, or pursue a by-right residential redevelopment strategy.

The Hotel currently holds a RevPAR Index of 86% (YTD), with a three-year average of 119.9%, suggesting strong historical performance and room for revenue recovery through enhanced management and marketing strategies.

Lamar P. Fisher
Fisher Auction Company Inc.
License: AU93
Fisher Auction Co: AB106

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