Casitas Coral Ridge | 2648 NE 32nd St
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Casitas Coral Ridge 2648 NE 32nd St
16 Room Hotel Fort Lauderdale, FL 33306 £3,949,260 (£246,829/Room) 5.29% Net Initial Yield
Executive Summary
Popular Fort Lauderdale boutique hotel, Casitas Coral Ridge, is a 16-unit garden-style hotel in prestigious Coral Ridge neighborhood 0.9 miles from the beach & experiencing an exceptional rental history. The property is within close proximity to main arteries of N Federal Highway & E Oakland Park Blvd., within steps to the Coral Ridge Mall and million dollars homes. Included are 2648 & 2640 NE 32 St.
The hotel features 2 buildings including 4 two-bedroom adjoining suits & hotel rooms for a total of 8 units in each building. One unit is currently used as a reception/ office. Property encompasses 200 linear feet of frontage on a 0.45 acre site and buildings total 6,726 square feet. The parking ratio is 3.27/1,000 sq.ft. Fully equipped accommodations & owner invested over $100k last year in bathroom upgrades. Seller financing available inquire for details.
Future build opportunity zoned RMM-25 for residential & hotel use & allows for the construction of up to 14 residential units & up to a 55’ high building.
A companion site is also available for purchase separately and would increase unit count (2667 NE 32 Street).
The hotel features 2 buildings including 4 two-bedroom adjoining suits & hotel rooms for a total of 8 units in each building. One unit is currently used as a reception/ office. Property encompasses 200 linear feet of frontage on a 0.45 acre site and buildings total 6,726 square feet. The parking ratio is 3.27/1,000 sq.ft. Fully equipped accommodations & owner invested over $100k last year in bathroom upgrades. Seller financing available inquire for details.
Future build opportunity zoned RMM-25 for residential & hotel use & allows for the construction of up to 14 residential units & up to a 55’ high building.
A companion site is also available for purchase separately and would increase unit count (2667 NE 32 Street).
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | £3,949,260 | Lot Size | 0.46 AC |
| Price Per Room | £246,829 | Building Size | 6,726 SF |
| Sale Type | Investment | No. Rooms | 16 |
| Net Initial Yield | 5.29% | Number of Floors | 1 |
| Property Type | Hospitality | Year Built | 1959 |
| Property Subtype | Hotel | Parking Ratio | 3.27/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Price | £3,949,260 |
| Price Per Room | £246,829 |
| Sale Type | Investment |
| Net Initial Yield | 5.29% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 6,726 SF |
| No. Rooms | 16 |
| Number of Floors | 1 |
| Year Built | 1959 |
| Parking Ratio | 3.27/1,000 SF |
| Corridor | Exterior |
Amenities
- Pool
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 9 | £116.13 | - |
| Guest Room | 7 | £72.68 | - |
Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,140,221 | |
| Land Assessment | £252,851 | Total Assessment | £1,393,072 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£252,851
Improvements Assessment
£1,140,221
Total Assessment
£1,393,072
zoning
| Zoning Code | RMM-25 (ZONING RMM-25 - Residential Multifamily Mid Rise | Medium High Density Future build opportunity allows for up to 14 units, 55' limit restriction.) |
| RMM-25 (ZONING RMM-25 - Residential Multifamily Mid Rise | Medium High Density Future build opportunity allows for up to 14 units, 55' limit restriction.) |
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Casitas Coral Ridge | 2648 NE 32nd St
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