offering memorandum pousada suites motel redevelopment · pousada suites motel is located in...

Offering Memorandum

Pousada Suites Motel RedevelopmentHollywood, FL

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

CONFIDENTIALITY AND DISCLAIMER

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

exclusively listedExclusively listed by:

OFFICES THROUGHOUT THE U.S AND CANADAwww.marcusmillichap.com

Property Name

Table of Contents

1. PROPERTY DESCRIPTION

2. RECENT SALES

3. DEMOGRAPHICS

descriptionP R O P E R T Y D E S C R I P T I O N

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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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481

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POUSADA SUITES MOTEL REDEVELOPMENT2901 North Ocean DriveHollywood, FL 33019

OFFERING SUMMARY

Purchase Price $3,850,000

Total Number of Rooms 17

Price/Room $226,471

Year Built / Renovated 1952

Lot Size 13,935 SF

Type of Ownership Fee Simple

THE OFFERINGAssessor’s Parcel #: 51-42-12-02-0730


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Investment Highlights ■■ Exellent Development Opportunity■■ Prime Location■■ Near Hollywood Beach Boardwalk, Offering Dining, Shopping &

Entertainment.■■ 5.1 Miles From Fort Lauderdale-Hollywood Iternational Airport■■ Minutes From Port Everglades and The Seminole Hard Rock Casino

Investment OverviewMarcus& Millichap is pleased to present the opportunity to acquire Pousada Suites Motel. This motel is in an excellent location; only one block from Hollywood Beach. The approximately 7,800 square foot motel is comprised of three buildings, two small one-story structures and one two-story structure. The motel consists of 17-units with a mix of efficiencies and one bedroom suites that are all fully furnished. Amenities include fully equipped kitchens, coin washer/dryers, room service, gas BBQ grill, heated pool, lounge/sun deck and free parking.

Pousada Suites Motel is located in Hollywood, Florida, which is in southeastern Broward County. The property is close to the Intra-Coastal Waterway and beautiful Hollywood Beach, which has the famous Boardwalk, offering dining, shopping, and entertainment. Hollywood Beach has been recently named first on a list of the finest beaches in South Florida. Just minutes away from the property is Port Everglades, the Fort Lauderdale International Airport, the Seminole Hard Rock Casino, dog and horse tracks, deep sea fishing and golf courses.

There are many new developments taking place in the area that will help raise occupancy and ADR in the future. The most notable of these new developments is the recent construction of Margaritaville Hollywood Beach Resort located less than one mile from the street. New owners will benefit from the redevelopment trend in the area and from the properties zoning within the city of Hollywood’s BRT-25 district. Within this district, developers are allowed to build a maximum of 25 residential units or 50 hotel units per acre. This is an excellent opportunity to invest in one of the most promising hotels markets in Florida.


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Aerial Photo


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Margaritaville Hollywood Beach Resort is on track for a Summer 2015 completion. Designed to offer an extensive array of amenities combined with degree of hospitality, service and attention to detail, the 349-room 17-story resort will be the perfect setting for guest to escape the everyday and just relax. Margaritaville will bring an entirely different perspective to South Florida with its unique, authentic, “no worries”, tropical vibe and the feeling of escape that is experienced upon arrival.


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HYDE BEACH RESORT CONDO RESIDENCECOMING SOON TO HOLLYWOOD BEACH


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Recent SalesR E C E N T S A L E S

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xviThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481

RECENT SA

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WALNUT MOTEL APARTMENTS333 WALNUT STREETHOLLYWOOD, FL 33019

CLOSE OF ESCROW: 5/11/2015 YEAR BUILT: 1956

SALE PRICE: $1,600,000 TOTAL ROOMS: 6

PRICE / ROOM: $266,667

THE NEVADA322 NEVADA STREETHOLLYWOOD, FL 33019




POUSADA SUITES MOTEL2901 N OCEAN DRIVEHOLLYWOOD, FL 33019

TOTAL ROOMS: 17 YEAR BUILT: 1952 SALE PRICE: $3,850,000 PRICE / ROOM: $226,471

MARLIN 311 NEBRASKA STREET HOLLYWOOD, FL 33019




DemographicsD E M O G R A P H I C S

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xviiiThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481

D E M O G R A P H I C S

Regional Map

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xixThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481


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xxThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481


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xxiThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481


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xxiiThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481


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xxiiiThis 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap, Inc. © 2015 Marcus & Millichap ACT ID X0390481


exclusively listedExclusively listed by:

OFFICES THROUGHOUT THE U.S AND CANADAwww.marcusmillichap.com

offering memorandum pousada suites motel redevelopment · pousada suites motel is located in...

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