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Atlantic Hideaway 297 NE 6th Ave 14 Room Hotel Delray Beach, FL 33483 $6,281,640 CAD ($448,689 CAD/Room) 9.06% Cap Rate
EXECUTIVE SUMMARY
PRIME LOCATION ON FEDERAL HIGHWAY IN EAST DELRAY BEACH
Blocks from Atlantic Avenue, Pineapple Grove, and public beach access
Serviced by Delray Beach’s Freebee shuttle service providing access to the greater downtown core and the beach
14-Key, cash-flowing Boutique Hotel
Renovated in 2017-2019
Features 3 courtyard areas and 20 surface parking spaces
STRONG DELRAY BEACH HOSPITALITY MARKET
Independent Chain Scale Hotels in have outperformed in the submarket
+15% CAGR in ADR since 2019
2024 Average ADR of $359/night
2024 Average Occupancy 60.4%
FAVORABLE CBD ZONING AND site size of 0.38 acres
Covered land play with future development potential in a rapidly expanding urban core
Multiple value-add and revenue growth Opportunities
Potential to optimize operational efficiencies, add amenities, and increase revenue via parking income
Blocks from Atlantic Avenue, Pineapple Grove, and public beach access
Serviced by Delray Beach’s Freebee shuttle service providing access to the greater downtown core and the beach
14-Key, cash-flowing Boutique Hotel
Renovated in 2017-2019
Features 3 courtyard areas and 20 surface parking spaces
STRONG DELRAY BEACH HOSPITALITY MARKET
Independent Chain Scale Hotels in have outperformed in the submarket
+15% CAGR in ADR since 2019
2024 Average ADR of $359/night
2024 Average Occupancy 60.4%
FAVORABLE CBD ZONING AND site size of 0.38 acres
Covered land play with future development potential in a rapidly expanding urban core
Multiple value-add and revenue growth Opportunities
Potential to optimize operational efficiencies, add amenities, and increase revenue via parking income
PROPERTY FACTS
| Price | $6,281,640 CAD | Lot Size | 0.38 AC |
| Price Per Room | $448,689 CAD | Building Size | 4,150 SF |
| Sale Type | Investment | No. Rooms | 14 |
| Cap Rate | 9.06% | No. Stories | 1 |
| Sale Condition | Redevelopment Project | Year Built/Renovated | 1948/2019 |
| Property Type | Hospitality | Parking Ratio | 4.82/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | ||
| Zoning | CBD, Delray Beach - Potential purchasers are advised to undertake their own due diligence as to potential property use. | ||
| Price | $6,281,640 CAD |
| Price Per Room | $448,689 CAD |
| Sale Type | Investment |
| Cap Rate | 9.06% |
| Sale Condition | Redevelopment Project |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 4,150 SF |
| No. Rooms | 14 |
| No. Stories | 1 |
| Year Built/Renovated | 1948/2019 |
| Parking Ratio | 4.82/1,000 SF |
| Corridor | Exterior |
| Zoning | CBD, Delray Beach - Potential purchasers are advised to undertake their own due diligence as to potential property use. |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 1 | $237.31 CAD | - |
| Guest Room | 13 | $184.26 CAD | - |
1 1
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 12-43-46-16-01-114-0010 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,578,711 CAD |
PROPERTY TAXES
Parcel Number
12-43-46-16-01-114-0010
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,578,711 CAD
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Atlantic Hideaway | 297 NE 6th Ave
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