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Tropical Gables Motel 1245 Ridgewood Ave 15 Room Hotel Daytona Beach, FL 32117 $1,799,850 CAD ($119,990 CAD/Room) 13.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Great potential income property
- shortterm or long term rentals
EXECUTIVE SUMMARY
Unique Investment Opportunity in Holly Hill, FL Discover a versatile investment property featuring nine sturdy concrete block structures offering a total of 15 rentable units. Currently operated as a motel, this property presents significant potential for expansion, redevelopment, or continued hospitality use. Property Highlights: Nine concrete block buildings 15 rentable units Off-street parking for guests and tenants Prime location in the heart of Holly Hill, Florida Close proximity to major highways, shopping centers, beaches, hospitals, and House of worship. This property offers an excellent opportunity for investors seeking a well-located asset with immediate income potential and room for growth. Whether you're looking to continue as a motel, convert to apartments, or explore other uses, this site provides a solid foundation for your investment plans. Property is in need of some TLC.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$350,971
|
$85.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$35,097
|
$8.59
|
| Effective Gross Income |
$315,874
|
$77.31
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$69,225
|
$16.94
|
| Net Operating Income |
$246,649
|
$60.36
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $350,971 |
| Annual Per SF | $85.90 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $35,097 |
| Annual Per SF | $8.59 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $315,874 |
| Annual Per SF | $77.31 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,225 |
| Annual Per SF | $16.94 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $246,649 |
| Annual Per SF | $60.36 |
PROPERTY FACTS
| Price | $1,799,850 CAD | Lot Size | 0.45 AC |
| Price Per Room | $119,990 CAD | Building Size | 4,086 SF |
| Sale Type | Investment | No. Rooms | 15 |
| Cap Rate | 13.70% | No. Stories | 1 |
| Sale Condition | 1031 Exchange | Year Built | 1948 |
| Property Type | Hospitality | Parking Ratio | 2.94/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | 09B4 - Business - 4 | ||
| Price | $1,799,850 CAD |
| Price Per Room | $119,990 CAD |
| Sale Type | Investment |
| Cap Rate | 13.70% |
| Sale Condition | 1031 Exchange |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 4,086 SF |
| No. Rooms | 15 |
| No. Stories | 1 |
| Year Built | 1948 |
| Parking Ratio | 2.94/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | 09B4 - Business - 4 |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 15 | $84.45 CAD | - |
PROPERTY TAXES
| Parcel Number | 4242-50-07-0060 | Improvements Assessment | $220,998 CAD |
| Land Assessment | $121,678 CAD | Total Assessment | $342,676 CAD |
PROPERTY TAXES
Parcel Number
4242-50-07-0060
Land Assessment
$121,678 CAD
Improvements Assessment
$220,998 CAD
Total Assessment
$342,676 CAD
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Tropical Gables Motel | 1245 Ridgewood Ave
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