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Casitas Coral Ridge 2648 NE 32nd St 16 Room Hotel Fort Lauderdale, FL 33306 $6,461,956 CAD ($403,872 CAD/Room) 9.34% Cap Rate
Investment Highlights
- 9.33% going-in cap rate with $425,000 in demonstrated in-place NOI
- 16 boutique keys — suites, studios & hotel rooms
- Office-to-suite upside: add a key with no new footprint
- 83% occupancy rate with high year-round utilization
- One mile to Fort Lauderdale Beach
- Scarce boutique inventory in Coral Ridge — limited competition
Executive Summary
Broker Of Record
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
| Price | $6,461,956 CAD | Lot Size | 0.46 AC |
| Price Per Room | $403,872 CAD | Building Size | 6,726 SF |
| Sale Type | Investment | No. Rooms | 16 |
| Cap Rate | 9.34% | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1959 |
| Property Subtype | Hotel | Parking Ratio | 3.27/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Zoning | RMM-25 - ZONING RMM-25 - Residential Multifamily Mid Rise | Medium High Density Future build opportunity allows for up to 14 units, 55' limit restriction. | ||
| Price | $6,461,956 CAD |
| Price Per Room | $403,872 CAD |
| Sale Type | Investment |
| Cap Rate | 9.34% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 6,726 SF |
| No. Rooms | 16 |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 3.27/1,000 SF |
| Corridor | Exterior |
| Zoning | RMM-25 - ZONING RMM-25 - Residential Multifamily Mid Rise | Medium High Density Future build opportunity allows for up to 14 units, 55' limit restriction. |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 9 | $208.77 CAD | - |
| Guest Room | 7 | $130.66 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,050,684 CAD | |
| Land Assessment | $454,751 CAD | Total Assessment | $2,505,435 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$454,751 CAD
Improvements Assessment
$2,050,684 CAD
Total Assessment
$2,505,435 CAD
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
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Casitas Coral Ridge | 2648 NE 32nd St
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