Multi-Family•High-Rise•For Sale

THE CLEARWATER BEACH MOTEL FOR SALE! 16 CASH-ON-CASH RETURN!

1735 Gulf to Bay, Clearwater, Florida 33755

Sale Price $2,500,000
Zoning HOTELS/ MOTELS
Bldg Type Multi-Tenant
Status Existing
Year Built 1957
Year Renovated 2019
Stories 1
Vacancy 100%
Gross Bldg 12,213 SqFt
RBA 11,000 SqFt
Land Area .79 Acres
Project Size 28
Improvements THE GULF TO BAY HOTEL IS A 27-UNIT, (PLUS OWNER/MANAGERS 3 BEDROOM UNIT), CONCRETE BLOCK BUILDING LOCATED DIRECTLY ON GULF TO BAY BLVD, MILES FROM WORLD FAMOUS CLEARWATER BEACH
Market Clearwater
Sub-Market Gulf to Bay Blvd.
THE CLEARWATER BEACH MOTEL IS A 28-UNIT HOTEL/MOTEL LOCATED DIRECTLY ON GULF TO BAY BLVD., MINUTES FROM WORLD FAMOUS CLEARWATER BEACH! THE PROPERTY CONSISTS OF 27 INDIVIDUAL SUITES AND A 3-BEDROOM SUITE LOCATED BEHIND THE FRONT DESK FOR THE OWNER OR MANAGER TO LIVE IN. THE PROPERTY CONSISTS OF 3 FREE STANDING BUILDINGS ALL CONCRETE BLOCK WITH FRONTAGE ON GULF TO BAY BLVD! THE CLEARWATER BEACH MOTEL BOASTS A FANTASTIC OCCUPANCY DUE TO ITS RECENT RENOVATIONS, AND PRIME LOCATION ON GULF TO BAY BLVD WHERE MANY PEOPLE COME TO VACATION. ALL UNITS HAVE BEEN RECENTLY REDONE AND ARE IN FANTASTIC CONDITION! THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CASH-ON-CASH RETURN OF OVER 16%, AND A CAP RATE OF OVER 9%! WHILE THIS IS A FANTASTIC RETURN, IT ONLY GETS BETTER AS THE SELLER IS WILLING TO PROVIDE SELLER FINANCING ON THIS DEAL. WITH THE APPROXIMATE SELLER FINANCING TERMS FACTORED IN, A BUYER CAN OBTAIN A MONTHLY DEBT SERVICE PAYMENT OF AS LOW AS $5,625 PER MONTH! WITH THIS EXTREMELY LOW MONTHLY DEBT SERVICE A BUYER CAN EASILY OBTAIN A CASH-ON-CASH RETURN OF ALMOST 18% BY THE START OF 2021! APPROXIMATE SELLER FINANCING TERMS: DOWN PAYMENT: $1,000,000 FIXED INTEREST RATE: 4.5% INTEREST ONLY PAYMENTS BALLOON LENGTH: 5-YEARS ** APPROXIMATE MONTHLY DEBT SERVICE AS LOW AS $5,625! THE BEST PART OF THIS SALE IS THAT THE SELLER IS WILLING TO PROVIDE SELLER FINANCING AT AMAZING TERMS. CURRENTLY, THE SELLER IS OFFERING THE FOLLOWING SELLER FINANCING TERMS: $1,000,000 AS A DOWN PAYMENT, 4.5% FIXED INTEREST RATE WITH INTEREST ONLY PAYMENTS, AND A 5-YEAR BALLOON. USING THESE TERMS, A BUYER COULD OBTAIN A MONTHLY DEBT SERVICE FEE AS LOW AS $5,625 PER MONTH! THE BUYER’S POTENTIAL MONTHLY SAVINGS, BY USING THE INTEREST ONLY OPTION ARE IMMENSE AND ARE IMPOSSIBLE TO FIND ANYWHERE ELSE! THESE TERMS ALONG WITH THE STRONG OCCUPANCY RATES WILL ALLOW THE BUYER TO EASILY OBTAIN A CASH-ON-CASH RETURN OF OVER 18% AND A CAP RATE OF OVER 10% BY 2021! THESE TERMS ARE FAR BETTER THAN ANYTHING A BANK CAN CURRENTLY OFFER AS A PROPERTY OF THIS QUALITY WOULD LIKELY REQUIRE APPROXIMATELY 30% DOWN AND WOULD ONLY OFFER AN AMORTIZATION OF APPROXIMATELY 25 YEARS AT BEST. THE MONTHLY SAVINGS A BUYER WOULD ACCUMULATE BY USING THE SELLER FINANCING INSTEAD OF CONVENTIONAL FINANCING IS IMMENSE! LOCATED ON GULF TO BAY BLVD. THE PROPERTY SITS ON THE MOST HEAVILY TRAVELED ROAD IN ALL OF CLEARWATER, FL! MINUTES FROM WORLD FAMOUS CLEARWATER BEACH, THIS MOTEL CONSISTENTLY STAYS OCCUPIED AT EXTREMELY HIGH RATES WITH THE MAJORITY OF CUSTOMERS VACATIONING AT CLEARWATER BEACH! DUE TO ITS RECENT RENOVATIONS, IT IS ONE OF THE NICEST MOTELS/HOTELS LOCATED ON GULF TO BAY BLVD! THE CLEARWATER BEACH MOTEL HAS AVERAGED ABOUT AN 84% OCCUPANCY PER MONTH DURING 2018 AND 2019. THE PROPERTY CONSISTENTLY REACHES OCCUPANCY RATES NEAR 93% DURING THE BUSY SEASON (NOVEMBER-APRIL), BUT STILL MAINTAINS A VERY RESPECTABLE OCCUPANCY RATE OF APPROXIMATELY (75%) DURING THE SUMMER MONTHS. CLEARWATER IS ONE OF THE MOST HEAVILY TRAVELED CITES IN ALL OF FLORIDA AND THE RESURGENCE OF THE CLEARWATER BEACH OVER THE PAST 5 YEARS, HAS ONLY DRIVEN MORE TOURISTS AND RESIDENTS TO THE AREA. THE RECENT DEVELOPMENT AND UPGRADES TO THE AREA IS SCHEDULED TO CONTINUE FOR THE FORESEEABLE FUTURE AND CLEARWATER BEACH SHOULD REMAIN A TOP TOURIST DESTINATION FOR YEARS TO COME! THE PROPERTY IS EASY TO MANAGE AND THE 28TH UNIT CAN BE USED AS A PLACE FOR A FULL-TIME MANAGER TO LIVE ON-SITE! THE PROPERTY CONSISTS OF 27-UNITS ALL WITH A SIMILAR LAYOUT. THE OWNER ALSO RECENTLY ADDED 2 HANDICAP ACCESSIBLE UNITS WHICH MOST HOTELS/MOTELS IN THE AREA DO NOT HAVE. THE SELLER HAS SPENT OVER $150,000 SINCE 2018 UPGRADING THE PROPERTY AND IT HAS RESULTED IN HIGHER OCCUPANCY RATES EACH YEAR! THE UNITS HAVE RECENTLY UNDERGONE THE FOLLOWING MAJOR RENOVATION IN THE PAST 18 MONTHS; NEW FURNITURE, NEW BEDS, FULLY RENOVATED BATHROOMS, NEW TV'S, NEW FLOORING, INTERIOR AND EXTERIOR PAINT, NEW PLUMBING, UPDATED ROOFS, ELECTRICAL UPDATES, NEW SINKS, MINI REFRIDGRATORS, NEW FANS, NEW WINDOW AC UNITS AND A BRAND NEW PARKING LOT FOR ALL GUESTS TO PARK! WITH THESE AMAZING UPGRADES THE BUYER WILL HAVE VERY LITTLE, IF ANY CAPEX EXPENSE, ALLOWING THEM TO MAKE AN EVEN LARGER PROFIT! THE OWNER ALSO HAS ADDED A LAUNDRY FACILITY ON-SITE TO HELP REDUCE THE COST OF TURNING OVER EACH UNIT AFTER A GUEST LEAVES AND TWO HANDICAP ACCESSIBLE UNITS (ADA APPROVED). THE PARKING LOT HAS ALSO BEEN RESTRIPED AND EVEN MORE, PARKING IS NOW AVAILABLE TO ALL GUESTS! THIS IS A ONE OF A KIND OPPORTUNITY TO BUY A FANTASTIC PIECE OF REAL ESTATE, IN ONE OF THE HOTTEST MARKETS AND BEST VACATION DESTINATIONS IN ALL OF FL! LOCATED ON GULF TO BAY BLVD. IN CLEARWATER, FL JUST MILES FROM WOULD FAMOUS CLEARWATER BEACH. GREAT VISIBILITY ON BUSY GULF TO BAY BLV.. GULF TO BAY BLVD IS THE MAIN ARTERY WHICH CONNECTS TAMPA AND CLEARWATER AND ONE OF THE MOST HEAVILY TRAVELED ROADS IN THE AREA. IT ALSO PROVIDES DIRECT ACCESS TO TAMPA AND CLEARWATER AIRPORTS. Great visibility on busy Gulf To Bay Blvd. Corner lot with 153 Ft frontage on Gulf to Bay Blvd. 3.5 miles from Clearwater Beach and direct access to Tampa & Clearwater Airports.
  • 28-UNIT MOTEL/HOTEL LOCATED MINUTES FROM WORLD FAMOUS CLEARWATER BEACH, ON GULF TO BAY BLVD!
  • SELLER FINANCING AVAILABLE!
  • APPROXIMATE SELLER FINANCING TERMS AVAILABLE:
  • $1,000,000 DOWN
  • 4.5% FIXED IR
  • INTEREST ONLY PAYMENTS
  • 5-YEAR BALLOON!
  • MONTHLY DEBT SERVICE PAYMENT AS LOW AS $5,625!
  • CASH-ON-CASH RETURN OF OVER 18% IN 2021!
  • CAP RATE OF OVER 10% IN 2021!
  • AVERAGE OCCUPANCY RATE OF OVER 84%!
  • THE OWNER HAS SPENT OVER $120,000 ON MAJOR RENOVATIONS IN THE PAST 18 MONTHS!
  • THE PROPERTY IS IN EXCELLENT CONDITION AND ALL ROOMS HAVE BEEN SIGNIFICANTLY UPGRADED!
10/30/2019 4:43:21 PM 3/31/2020 5:00:54 PM
David Rosenthal
Associate
Grimaldi Commercial Realty Corp
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