Barefoot Mailman Motel

138 South Dixie Highway, Lantana, FL

$1,900,000

Price

8.3%

Cap Rate

$157,990

NOI

Overview
Cap Rate
8.3%
NOI
$157,990
Pro Forma Cap Rate
10.3%
Building Size
6,911 sqft
Lot Area
0.5 acres
Keys
19
Star Rating
4
Average Room Size
160 sqft
Year Built
1952
Price Per Sqft
$275
Price Per Unit
$95,000
Management
Unencumbered
Floors
1
Parking Spots
16
Restrooms
20
CeilingHeight
8
Description

This sale includes land, buildings and business. Currently an owner-operated motel with 19 rooms plus single family house and office. This .50 acre commercial site on the northeast corner of S. Dixie Highway and W Pine St. It enjoys two access points, plenty of parking area, with high vehicle and pedestrian daily traffic. Located in a GROWING submarket just 1.2 miles from the I95 and .09 miles from the Lantana beach, South Palm Beach and Manalapan. Capital improvements include two year new DUCTLESS A/C WITH HEAT UNITS, DOUBLE PANE WINDOWS,NEWLY REPLACEMENT ROOM DOORS and CONTACTLESS RF STYLE DOOR LOCKS.


Location
Gallery