Fort Lauderdale Grand Hotel 4900 Powerline Rd 196 Pièce Hôtel Fort Lauderdale, FL 33309 17 667 000 $ CAD (90 138 $ CAD/Pièce) 14,80% Taux de capitalisation

The Grand Hotel is a 196-room hotel located in Fort Lauderdale, Florida. Built in 1971 and renovated in 1977 and 2022, the Grand Hotel is positioned within a high-accessibility commercial corridor benefiting from diverse regional demand drivers.
The asset generated a net operating income of $1,094,278 (2024), representing an attractive ~8% capitalization rate, providing investors with immediate in-place cash flow. Operating as an independent hotel, the Grand Hotel presents a compelling value-add/repositioning opportunity. The asset requires significant capital improvements, offering investors the ability to execute a comprehensive renovation strategy, operational reset, and potential rebranding initiative designed to enhance revenue performance and long-term asset value.
This offering is well-suited for experienced hospitality investors or operators seeking a value-add opportunity within the South Florida market. The seller is highly motivated, creating a favorable acquisition environment.
Value-Add/Repositioning: Comprehensive Renovation and Repositioning Program
Given the Property’s vintage and independent operating model, investors are presented with a rare opportunity to implement a comprehensive renovation and repositioning program. Potential strategies may include: full interior and exterior modernization; operational efficiencies and expense optimization; revenue management enhancements; rebranding or flag conversion; and amenity upgrades aligned with current market demand.
The asset’s scale and location support a variety of repositioning pathways, enabling investors to tailor a strategy consistent with their operational expertise and return objectives.
Potential Redevelopment: Redevelopment under Florida’s Live Local Act
The Property’s 4.25-acre site presents a compelling redevelopment opportunity under Florida’s Live Local Act (HB 1429/SB 102), which permits qualifying projects to develop residential density by-right in commercially-zoned areas, bypassing local zoning restrictions entirely.
At the statutory density of 65 units per acre, the site supports up to 276 residential units - a significant value creation pathway above the current hotel use.
Phase I: Hotel-to-Residential Conversion: The existing five-story, 196-room concrete-frame structure is well-suited for conversion to approximately 118 residential units, leveraging the existing footprint to minimize hard costs.
Phase II: New Residential Construction: The site’s surplus land supports approximately 158 additional units on a new structure utilizing the underutilized 185,405 SF lot and existing surface parking field.
This dual-path strategy allows investors to maintain hotel operations during planning and permitting - preserving in-place cash flow while pursuing entitlements - offering a risk-mitigated pathway to a fully residential asset in one of South Florida’s most supply-constrained submarkets.