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Motel - 15 Rooms
Trade Winds Motel
846 North Krome Avenue
Homestead, FL 33030
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- 15 rooms exceptionally clean motel
- Two bedroom/ two bath manager's apartment
- Current 8.25 CAP/ Pro Forma 10.6 CAP
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- Located steps from Campbell Drive East / West Commercial Corridor
- At the gateway to the Florida Keys
- Between the Biscayne & Everglades National Parks
- In the City of Homestead Redevelopment District
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Price |
$1,100,000 |
Down Payment |
(100%) $1,100,000 |
Occupancy |
68.80% |
ADR |
$47.49 |
Year Built |
1955 |
Lot Size |
25,527 |
Cap Rate - Current |
8.25% |
Cap Rate - Pro Forma |
10.62% |
RRM - Current |
6.16 |
RRM - Pro Forma |
5.32 |
Total Return - Current |
8.25% |
Total Return - Pro Forma |
10.62% |
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OPERATING DATA
INCOME |
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Current |
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Pro Forma |
Room Revenue |
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$178,670 |
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$206,955 |
Other Revenue |
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3,963 |
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3,963 |
Gross Revenue |
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$182,633 |
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$210,918 |
Total Expenses |
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91,908 |
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94,153 |
Adjustments |
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0 |
Net Operating Income |
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$90,725 |
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$116,765 |
Total Return |
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8.25% $90,725 |
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10.62% $116,765 |
EXPENSES |
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Current |
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Pro Forma |
Departmental Expenses |
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Telephone |
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$2,267 |
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$2,267 |
Undistributed Expenses |
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Supplies |
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$16,456 |
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$16,456 |
Utilities |
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21,917 |
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21,917 |
Property Operations & Maintenance |
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8,660 |
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8,660 |
Fixed Expenses |
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Property Taxes |
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$23,853 |
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$23,853 |
Property Insurance |
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18,755 |
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21,000 |
Total Expenses |
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$27,383 |
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$27,383 |
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Marcus & Millichap is excited to offer the Trade Winds Motel a 15 room exceptionally, clean motel with a two bedroom/ two bath manager's apartment in Historic Homestead, Florida, the gateway to the Florida Keys and Biscayne and Everglades National Parks.
With little to no internet and local marketing, which is not being done presently, an investor/ operator can enjoy over $100,000 NOI with over a 10.5% return on investment.
The Trade Winds fronts Krome Avenue the major North/ South Commercial Corridor & just North of Campbell Drive the major East/ West Commercial Corridor in Homestead.
Homestead, Florida is one of the fastest growing cities in Florida with over 58,000 residences with over 36,000 new homes within a 16 mile radius. |
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| Listing Office:
5201 Blue Lagoon Drive Suite 100 Miami, FL 33126
Tel: (786) 522-7000
Fax: (786) 522-7010
www.marcusmillichap.com |
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| This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. © Marcus & Millichap 2006 |
| (Activity ID: N0390122 Property ID: 1555428) |
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| The representations contained on this internet page are provided based on information deemed reliable. However, the same has not been independently verified. Prinicpals are advised to conduct a thorough due dligigence for any potential transaction. Marcus & Millichap Real Estate Brokerage Company's name and logo are used herein for information purposes only. |
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| Copyright 2006 South Florida Land Broker, Inc. - All Rights Reserved. |
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