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Ocean Eleven Suites 1708 S Atlantic Ave

11 Room Hotel New Smyrna Beach, FL 32169 $4,000,000 ($363,636/Room) 6.84% Cap Rate

Investment Highlights

  • Walking distance to the ocean, just on the other side of S Atlantic Ave

Executive Summary

A rare opportunity to acquire an immaculate boutique hotel that has undergone extensive renovations from head to toe. This property has tremendous potential for growth, work was just recently completed and the word is quickly getting out about these stunning suites that are just 200 feet from the beach. New Smyrna Beach is frequented by many locals and travelers alike, widely known as one of the highest-rated beaches in the state with a list of accolades to go with it.
17 miles of sandy coastline which is one of three beaches in the state that can be driven on, New Smyrna Beach offers a laidback and friendly atmosphere along with consistently rated world-class surfing and fishing. NSB is also a town that defies easy categorization, though parks and water recreation might draw you here initially, this is a place where culture and the arts are woven into the fabric of everyday life. It's also where you'll find a culinary scene marked both by internationally recognized chefs and seafood shacks that have been favored by locals for decades.
Not only does this property offer guests a short walk to the beach, but it is also just a 4-minute drive from historic Flagler Avenue and Canal Street where guests can enjoy water sports, shopping, and unique dining opportunities
For the explorers, NSB has the most biologically diverse estuary in North America, there are quite a few wildlife conservation parks and hiking trails.

Property Facts

Price $4,000,000
Price Per Room $363,636
Sale Type Investment
Cap Rate 6.84%
Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 0.17 AC
Building Size 7,392 SF
No. Rooms 11
No. Stories 1
Year Built 1979
Tenancy Single
Parking Ratio 3.52/1,000 SF
Corridor Exterior

Amenities

  • Pool
  • Beach (direct access)
  • Boutique/Lifestyle Hotel
  • Smoke-Free
  • Fully-Equipped Kitchen
  • Multi-Room Suites

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 11 $139.00 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7415-04-39-0040
Land Assessment
$364,219
Improvements Assessment
$536,857
Total Assessment
$901,076

zoning

Zoning Code B-4(4) - COM (Intended for business and commercial development)
B-4(4) - COM (Intended for business and commercial development)
  • Listing ID: 23477018

  • Date on Market: 6/21/2021

  • Last Updated:

  • Address: 1708 S Atlantic Ave, New Smyrna Beach, FL 32169

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