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972-754-0582
Real Estate Company
828 Ridgewood Avenue, Holly Hill, FL 32117
- $1,199,000
- 3,800
- SqFt
- List Price
- $1,199,000
- Status
- Active
- Days on Market
- 16
- MLS#
- O6443334
- Property Style
- Hotel/Motel
- Year Built
- 1946
- Living Area
- 3,800
- Lot Size
- 24,480
- Acres
- 0.56
- Total Acreage
- 1/2 to less than 1
- Legal Subdivision Name
- Toll & Williams Lt 01 Blk M & C Holly Hill
- MLS Area Major
- Daytona Beach
Property Description
Rare opportunity to acquire the Indian Palm Motel, a well-established 14-unit motel offering an attractive approximately 15% cap rate, strong existing cash flow, and significant upside potential. This is a true income-producing asset where the right owner/operator may be able to increase revenue and profitability through improved management, marketing, pricing, and targeted property enhancements. Situated on approximately 0.56 acres along highly traveled Ridgewood Avenue/US-1 in Holly Hill, the property offers excellent visibility and accessibility, with 14 guest units, on-site office, coin-operated laundry, and 15 dedicated parking spaces. Located approximately 3 miles from Daytona Beach and 5 miles from Daytona International Speedway, the motel benefits from year-round tourism, major events, seasonal travel, local business activity, and the continued growth of the Daytona Beach market. The property has an established operating history and recurring demand, providing an investor with immediate cash flow and multiple opportunities to create additional value. A new owner who brings strong hospitality management and a proactive operating strategy could potentially push NOI and returns well beyond the current performance. Strong yield, established income, prime location, and substantial value-add potential make the Indian Palm Motel an exceptional opportunity for an investor seeking a high-performing hospitality asset with room to grow.
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Additional Information
- Taxes Annual
- $6621
- Annual Gross Income
- 218400
- Community Features
- No Deed Restriction
- Zoning
- 09B4
- Utilities
- Public
- Air Conditioning
- Wall/Window Unit(s)
- Exterior Construction
- Block
- Foundation
- Slab
- Pool
- No Pool
- Flood Zone Code
- X
- Parcel ID
- 5337-41-01-0040
- Legal Description
- LOT 4 EXC N 8.99 FT SUB LOT 1 BLK 8 M & C HOLLY HILL MB 2 PG 154 PER OR 3728 PG 0816 PER OR 5336 PG 4738 PER OR 7147 PG 4741 PER OR 8168 PG 1353 PER OR 8440 PG 3620
Listing courtesy of JUPITER PROPERTIES, INC. 386-547-6161
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