$1,350,000
Pending · 22 days on market · MLS# MFRTB8410735
| Living area | 4,450 sq ft |
|---|---|
| Lot size | 0.26 acres |
| Year built | 1952 |
| Property type | Hotel/Motel |
| Waterfront | Yes |
| Annual taxes | $24,250 |
| County | Pinellas |
Under contract-accepting backup offers. Investment opportunity in paradise. This boutique motel harkens back to a bygone era of old-Florida, with clean and cozy accommodations with the onsite pool being the heart of the property. There are a total of 12 rooms: 4 Deluxe studios - galley style kitchenette with apt size fridge/freezer & lg toaster oven, king bed, futon. 2 Family Studios - queen bed, twin bed, kitchenette w/ mini fridge. 3 Standard Studios - queen bed, kitchenette w/ mini fridge. 2 Basic Studios - similar to standard studios but smaller sq ft. All studios equipped with cookware, dishes/utensils, hot plate, coffee maker, microwave, toaster. There is also a 2 bedroom unit with a full kitchen. This property is represents a nice investment opportunity in the local hospitality industry. The Gulf Beaches have seen consistently increasing tourism numbers with a shortage of budget-friendly accommodations, making this property extra special. The property was impacted by flooding from hurricane Helene and has been professionally remediated. It is now ready for renovations, with a contractor on stand by to get started. All plans and forms are ready to submit for the necessary permits. Based on owner's findings and a recent ACV appraisal the property can be restored under the FEMA 50% threshold.
Listing courtesy of Michael Wyckoff, ENGEL & VOLKERS MADEIRA BEACH. Presented by MC Homes Realty Inc · 727432218.