Ocean Beach Hotel Assemblage - Fort Lauderdale Beach

Lee & Associates presents investors the opportunity to acquire a Hotel Portfolio which features two (2) turnkey independent hotels, and two (2) buildings totaling ±46,763 SF situated along Ocean Blvd in Fort Lauderdale, FL (‘FLL’). Both parcels are situated within Galt Mile and offer sought-after Ocean Blvd frontage on a rare contiguous site in a high barrier-to-entry market. The properties offer investors a tremendous value-add opportunity through future land appreciation and redevelopment/repositioning.

All operations are turn-key and producing substantial returns. The Properties were originally constructed in 1961 and 1979 and are situated on a combined 1.66 acres of land. The Portfolio features a total of 133 rooms. Extensive interior and exterior renovations over the Portfolio were completed in 2017, including those to the Ocean Beach Palace lobby. Rooms received comprehensive renovations to panels, carpet, headboards, AC, appliances, beds, bathrooms, and amenities, as well as other room repairs and many other upgrades. 

Interstate 95, approximately 5 miles west of the Property, is the main interstate corridor running north-south on the east coast, running from the Canadian border to the north and terminating in Miami, Florida to the south. Interstate 95 provides service to Boca Raton (approximately 19 miles north), Miami (approximately 37 miles south), and Daytona Beach (approximately 240 miles north).   Local area airports include Fort Lauderdale Executive Airport, Fort Lauderdale-Hollywood International Airport, and Miami International Airport. The average daily traffic count at the intersection of East Oakland Park Boulevard and West Oak Park Access Road exceeds 38,000 vehicles per day.  Surrounding properties are primarily commercial and retail, with residential uses to the west. There are five bus stops in close proximity.