Nokomis Inn & Suites | 119 Tamiami Trl N
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Nokomis Inn & Suites 119 Tamiami Trl N
23 Room Hotel Nokomis, FL 34275 $3,250,000 ($141,304/Room) 9.20% Cap Rate
Investment Highlights
- Situated on Route 41, Surrounded by All New Developments, Including a New Hilton Home2 Suites, Holiday Inn Express, Wawa & Woodies Wash Shack
- Rock-Solid Masonry Construction w/ Updated PVC Plumbing Throughout (2016) | Extensive Interior / Exterior Property Improvements Completed in 2016/2019
- Highly Favorable Commercial General (CG) Zoning Allowing for a Diverse Range of Re-Development Opportunities
- Acquired for Conversion into a Mental Health Facility & Now Running as a Limited Operation Motel | Potential Apartment Conversion Opportunity
- Large Space on NW Portion of the Parcel for Additional Parking and/or Common Area Amenities | Direct Frontage on Route 41/Tamiami Trl (46,000 AADT)
- Massive Value-Add Opportunity & Ideally Positioned Within 3-Minutes of the Nokomis Beach & NOT in a Flood Zone (Zone X)
Executive Summary
PRICE REDUCTION | View Offering Memorandum for Motel Projections & Details! To access see "Links" section or go to... MultifamilyFirm.com
The Multifamily Firm is pleased to present the Nokomis Inn & Suites in Sarasota County, located just north of Venice, Florida, and 3 minutes from Nokomis Beach at the south end of Casey Key. Originally acquired by ownership for conversion into a mental & behavioral health facility, after short operation as such, the site did not align with the future business model of the company. As a result, the property is currently running as a limited operation boutique motel to produce cash flow and provide a jumping off point for new ownership to operate as they see fit.
Consisting of 23-units in 5 buildings on 1 parcel totaling 1.21 acres, the property has direct frontage on Route 41 / Tamiami Trail (46,000 AADT), as well as highly favorable Commercial General (CG) zoning providing a diverse range of re-development opportunities. Additionally, the property features rock-solid masonry construction, with updated PVC plumbing throughout and extensive interior/exterior improvements completed in 2016 & 2019.
*** Advertised CAP Rate based on Proforma/Projections - See OM for Full Details! ***
The Multifamily Firm is pleased to present the Nokomis Inn & Suites in Sarasota County, located just north of Venice, Florida, and 3 minutes from Nokomis Beach at the south end of Casey Key. Originally acquired by ownership for conversion into a mental & behavioral health facility, after short operation as such, the site did not align with the future business model of the company. As a result, the property is currently running as a limited operation boutique motel to produce cash flow and provide a jumping off point for new ownership to operate as they see fit.
Consisting of 23-units in 5 buildings on 1 parcel totaling 1.21 acres, the property has direct frontage on Route 41 / Tamiami Trail (46,000 AADT), as well as highly favorable Commercial General (CG) zoning providing a diverse range of re-development opportunities. Additionally, the property features rock-solid masonry construction, with updated PVC plumbing throughout and extensive interior/exterior improvements completed in 2016 & 2019.
*** Advertised CAP Rate based on Proforma/Projections - See OM for Full Details! ***
Property Facts
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Multi-Room Suites
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $122.00 | - |
| Guest Room | 19 | $99.00 | - |
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PROPERTY TAXES
| Parcel Number | 0171-10-0024 | Improvements Assessment | $1,157,900 |
| Land Assessment | $621,000 | Total Assessment | $1,778,900 |
PROPERTY TAXES
Parcel Number
0171-10-0024
Land Assessment
$621,000
Improvements Assessment
$1,157,900
Total Assessment
$1,778,900
zoning
| Zoning Code | CG (Commercial General) |
| CG (Commercial General) |
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Nokomis Inn & Suites | 119 Tamiami Trl N
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