UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 2,832 sqft
Price per Sqft $467
Subdivision Edgewood 3Rd Add
MLS Listing ID A4707366
Construction Status Completed
HOA Y/N No
Year Built 1980
Annual Tax Amount $3,311
Lot Size 0.370 Acres
Acres 0.37
Property Sub-Type Hotel/Motel
Source Stellar MLS
Property Description
Rare opportunity to acquire a licensed motel operating as long-term residential rentals in the heart of Bradenton. The property consists of 11 total units — 10 studio units and one 1-bedroom/1-bath unit — and is currently fully occupied, providing immediate cash flow from day one.
Eight of the 11 units have already been remodeled, leaving additional value-add potential through renovation of the remaining units and continued rent optimization.
The property generated approximately $153,000 in revenue over the prior 12 months, with a stabilized NOI of approximately $119,893. Detailed financials, rent roll, and supporting documentation are available to qualified, pre-approved buyers.
What truly separates this property is the future development potential. Current zoning allows for up to 20 additional units, providing a new owner with a significant opportunity to expand the existing operation and increase the property's income potential, subject to applicable governmental approvals and development requirements.
Major improvements include a roof replacement in 2019 and an electrical panel update in 2017.
This is an opportunity to acquire an already-performing, fully occupied asset with existing cash flow, remaining renovation upside, and substantial expansion potential in Bradenton.
Serious inquiries only. Proof of funds or financing pre-approval required prior to release of detailed financials. Please do not disturb tenants.
Location
State FL
County Manatee
Community Edgewood 3Rd Add
Area 34205 - Bradenton
Zoning C3
Direction W
Interior
Heating Central
Cooling Central Air, Wall/Window Unit(s)
Flooring Ceramic Tile
Appliance Dishwasher, Microwave, Refrigerator
Exterior
Community Features Sidewalks
Utilities Available Electricity Available, Public
View Y/N No
Water Access No
Building
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Construction Status Completed
Others
Pets Allowed Yes - See Condo Docs
Ownership Fee Simple
Acceptable Financing Cash, Commercial Financing, Other
Listing Terms Cash, Commercial Financing, Other
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4707366
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION