Panama City Beach, FL | Hospitality
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Panama City Beach, FL | Hospitality
2 Hospitality Properties Offered at £3,599,270 in Panama City Beach, FL
Investment Highlights
- Proven Operations with Growth Potential: Both hotels (15-unit and 18-unit) have established operations with consistent income
- Potential for Remote Management & Cost Savings: Featuring contactless check-in technology, both properties can be managed remotely
- Adjacent Lot with Development Potential: One property includes an adjacent lot zoned for Commercial High Intensity
- Over $600,000 in Recent Capital Improvements: The properties have undergone extensive renovations with over $600,000 invested in capital improvements
- Premier Location near Beachfront Destinations : Located near the popular beaches of Panama City and Panama City Beach
- Limited New Supply in High-Demand Market: Only one 91-room hotel project under construction in Panama City Submarket
Executive Summary
Matthews Real Estate Investment Services is pleased to present a unique opportunity to acquire a two-property hotel portfolio totaling 33 units, located in Panama City and Panama City Beach, FL. The portfolio consists of a 15-unit and an 18-unit hotel, both recently renovated with over $600,000 in capital improvements. These hotels are ideally located near popular beachfront destinations, attracting a steady stream of tourists year-round. The properties sit on prime real estate, with one offering an adjacent lot zoned for Commercial High Intensity, allowing for future development of up to 10 residential units.
Previously operated as a mom-and-pop Airbnb model, the properties have been transformed into professionally managed hotels under new ownership. Since reopening in mid-January 2024, they have started marketed through third-party booking platforms, significantly boosting visibility and bookings. While still in a stabilization period, the properties have shown consistent improvement in performance metrics and boast above-average Google reviews, which continue to rise. These reviews are even higher than most other hotels in the submarket, reflecting the properties’ exceptional guest experiences.
The hotels are remotely managed, with guests responsible for paying a $40 cleaning fee in addition to the room rate. Despite this additional charge, the properties have consistently achieved close to 100% occupancy. With increasing revenue, a strong and growing reputation, and further opportunities for operational improvements, this portfolio offers a compelling investment in a high-demand market.
For pricing guidance and additional information, please contact Matthews Real Estate Investment Services. Please refrain from contacting the hotels' staff, management, or ownership directly.
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Previously operated as a mom-and-pop Airbnb model, the properties have been transformed into professionally managed hotels under new ownership. Since reopening in mid-January 2024, they have started marketed through third-party booking platforms, significantly boosting visibility and bookings. While still in a stabilization period, the properties have shown consistent improvement in performance metrics and boast above-average Google reviews, which continue to rise. These reviews are even higher than most other hotels in the submarket, reflecting the properties’ exceptional guest experiences.
The hotels are remotely managed, with guests responsible for paying a $40 cleaning fee in addition to the room rate. Despite this additional charge, the properties have consistently achieved close to 100% occupancy. With increasing revenue, a strong and growing reputation, and further opportunities for operational improvements, this portfolio offers a compelling investment in a high-demand market.
For pricing guidance and additional information, please contact Matthews Real Estate Investment Services. Please refrain from contacting the hotels' staff, management, or ownership directly.
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Property Facts
| Price | £3,599,270 | Number of Properties | 2 |
| Price / SF | £341.10 / SF | Individually For Sale | 0 |
| Net Initial Yield | 11.03% | Total Building Size | 10,552 SF |
| Sale Type | Investment | Total Land Area | 1.35 AC |
| Status | Active |
| Price | £3,599,270 |
| Price / SF | £341.10 / SF |
| Net Initial Yield | 11.03% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 10,552 SF |
| Total Land Area | 1.35 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Bahama Breeze Suites
618 Evergreen St, Panama City Beach, FL 32407 |
Hospitality | 6,706 SF | 1963 | - |
|
Sea Foam Suites
6010 Thomas Dr, Panama City Beach, FL 32408 |
Hospitality | 3,846 SF | 1955 | - |
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Panama City Beach, FL | Hospitality
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