All Forum Posts by: Desmond J. Hinds

45 Key motel profiting over $406k+ annually. NOI Over 10% CAP!

Operating at 10% Cap Rate

• NOI $406,800
• Size 18,812 sq. ft.
• Bedrooms 45
• Bathrooms 45
• 20x30 Rooms
• 60 Parking Spaces

Comps:

1. Budget Inn - 24 rooms $2.55M - Sold in July 2023
2. American Inn -25 rooms $2.5M- Sold in March 2023

**Both hotels currently gross $425/per week per door currently. I received this information from the manager of the management company.

Direct message for more info!

all three of the properties are within a 1.5 mile radius. The combined NOI in 2022 was over $11M+. Located 5 Minutes from Orlando Outlet Marketplace, Mall at Millenia, Florida Southern College, Nova University, Palm Beach University, South University, International Academy of Design and more.

$285M

There is an assumable loan of $16,120,000 at a 3.1% Fixed-Rate through April 2030. If interested, I will provide more details via direct message.

Plans AND Permits have already been approved with drawings by Monroe County. Plans are approved to build One( 3 story DUPLEX with 3 bedrooms/ 2 bathrooms units each with 1,250 Sq ft on each side and a carport underneath).
Located one block away from the water. Would do pretty well as an AirBnB or Short term rental. Estimated to bring in a minimum of $40k per month ($20k per month each unit). Each unit can be rented for about $600 per night in off season, in season each unit can be rented for about $1,000 per night. Starting 2023 Monroe county is no longer issuing any new permits for new buildings so this is a great opportunity since these permits and plans have already been approved.

$1.15M

Sure! Sending info to your inbox now Stetson

my partners are direct to the seller on this property. The property is completely turnkey with fully permitted upgrades from top to bottom, operating as a STR with a grandfathered in Transient License. $4.4M (negotiable)

Currently netting over $200k+ with room to increase - also zoned for Office or Multifamily use.

Walking distance to the ocean located in Singer Island. Features: Hurricane Windows/Doors, New Kitchens, Baths, Floors, HVAC, Roof, Plumbing, Tankless HWH, Electrical. Total of 15 Bedrooms / 8 Full Baths / 6 Half Baths.

Units 1 to 6: 2br/1.5ba. Unit 7: very large 1/1 convertible to 2/1. Unit 8: 2/1.

397 Units in Fort Myers with 93% Occupancy. It's on pace currently to Net $4.5M with huge upside by increasing rents to market value. All rents at market value would generate over $6M annually.

244 Units Located in Jacksonville with value add and rental increases. Currently has 95% Occupancy. Please forward any inquiries via direct message to my inbox, thank you!