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seller looking for strong backup contract currently under contract (contract pending) best location great Motel , on ocean Blvd. across from the new Auberg Development and the new 100 rooms luxury hotel Cambrian five story under construction ,Currently operating as 21 rooms motel with 15 parking spaces . the property is Zoned RMH-60 and is under DRC review for approval at the city of Fort Lauderdale for 7 story building with 11 units with approximately 38,596 gross square foot area . .21rooms nightly rate $75x365=$574,875 gross income estimated expenses ,real estate tax-$30,000,insurance $3,300 management$38,000,repair and maintenance ,$16,000 other $3,000 electric water,internet,trush ,,gas,$18,000. total expenses$ 108,300 10% vacancy ,net operating potential income--$408,000

Listed by Rafael Sopher, Sopher Realty

Property Details of 2197 N Ocean Blvd

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