$510,000
$585,000
12.8%For more information regarding the value of a property, please contact us for a free consultation.
3,765 SqFt
SOLD DATE : 01/28/2021
Key Details
Sold Price $510,000
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Sold
Purchase Type For Sale
Square Footage 3,765 sqft
Price per Sqft $135
Subdivision Pine Grove Park
MLS Listing ID O5897704
Sold Date 01/28/21
Construction Status Inspections
HOA Y/N No
Year Built 1959
Annual Tax Amount $2,101
Lot Size 0.980 Acres
Acres 0.98
Property Description
OWNER FINANCING AVAILABLE! Independently-owned motel with no fees to a hotel chain. This 9 unit motel with 8 rentable units offers rooms that come complete with upgraded WiFi, cable, and kitchenettes which makes it a perfect place to stay for sub-contractors that work out of NASA, Space X, and Blue Origin many of which already stay regularly at the property for weeks and months at a time. The 2 bed / 1 bath managers suite that could be converted back into 2 additional units totaling 10 units. The motel is situated on 0.98 acres and sits on a corner lot with direct US-1 road frontage. The large sign out front is visible during the day and night, and a smaller digital sign has been added to the top of the larger sign for increased advertisement.
NOTE: this motel owner currently ONLY accepts cash, no debit/credit cards and no online presence like Expedia; meaning there is MAJOR room for increased revenue.
This property is zoned BU-1, The zoning commission has said that additional units can be added as their is no density limit, however there is a structural coverage limit which is 40% meaning you can add as many units as you would like until that limit is met. If you build anything new on the property it must be built to the TU-1 standards per code 62-1511
Location
State FL
County Brevard
Community Pine Grove Park
Zoning BU-1
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Flooring Ceramic Tile
Exterior
Utilities Available Public
Waterfront false
Roof Type Other
Building
Lot Description Corner Lot, Rural
Story 1
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Septic Tank
Structure Type Block
New Construction false
Construction Status Inspections
Others
Ownership Sole Proprietor
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition None
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Bought with VISULATE LLC
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