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Quality Inn and IHOP 1505 Belvedere Rd 135 Room Hotel West Palm Beach, FL 33406 For Sale
INVESTMENT HIGHLIGHTS
- Situated near Palm Beach International Airport and major transportation routes.
- The Property is experiencing tremendous revenue growth (47% year over year) which is expected to continue.
- Opportunities to improve occupancy rates, align with market performance benchmarks, and optimize revenue management strategies.
- Property benefits from steady demand from business and leisure travelers.
- The surrounding area’s numerous multifamily developments and increasing amenities drive local economic expansion and enhance lodging demand.
- IHOP does not utilize the full space and is well below market, creating huge upside to re-lease the space.
EXECUTIVE SUMMARY
On behalf of ownership, the Colliers | South Florida Investment Services Team, as the exclusive agent, is pleased to present for sale the Quality Inn Palm Beach International Airport and IHOP located at 1505 Belvedere Road (the “Property”) in West Palm Beach, Florida. The Property features a 135 room hotel and 6,072 SF IHOP and is strategically located minutes from Palm Beach International Airport, a prime hub for both leisure and business travelers. The vibrant West Palm Beach submarket also benefits from proximity to key demand drivers including downtown attractions, corporate offices, the Palm Beach County Convention Center, and easy access to Interstate 95 and other major transportation routes.
The Property is experiencing tremendous revenue growth (over 47% year over year) which is expected to continue. The strong growth underscores the property’s income-generating capability while presenting opportunities for operational enhancements to continue growing the income. The Property’s sole competitor in the immediate area was recently converted to a Delta Hotel by Marriott – and no longer competes with the Property due to increases rental rates. West Palm Beach is a growing hospitality market and the midscale hotel segment in this region benefits from consistent demand. The nearby development activity will also have positive impacts on property value by increasing local demand for lodging, enhancing the area attractiveness, and boosting corporate and business opportunities. The IHOP space is underutilized as the tenant is on a month to month lease and only occupies a portion of the building. There is significant upside potential to bring in a new restaurant tenant or rework the current operator’s lease.
The Quality Inn Palm Beach International Airport and IHOP represents a compelling investment opportunity, combining stable income generation with significant growth potential driven by its prime location near a major airport and the ongoing multifamily development activity in the area. As West Palm Beach continues to expand as a vibrant economic and residential hub, the property is well-positioned to capitalize on increased lodging demand, boosting both revenue and long-term value.
For additional information or to obtain and Offering Memorandum, please visit: QualityInnWPB.com
The Property is experiencing tremendous revenue growth (over 47% year over year) which is expected to continue. The strong growth underscores the property’s income-generating capability while presenting opportunities for operational enhancements to continue growing the income. The Property’s sole competitor in the immediate area was recently converted to a Delta Hotel by Marriott – and no longer competes with the Property due to increases rental rates. West Palm Beach is a growing hospitality market and the midscale hotel segment in this region benefits from consistent demand. The nearby development activity will also have positive impacts on property value by increasing local demand for lodging, enhancing the area attractiveness, and boosting corporate and business opportunities. The IHOP space is underutilized as the tenant is on a month to month lease and only occupies a portion of the building. There is significant upside potential to bring in a new restaurant tenant or rework the current operator’s lease.
The Quality Inn Palm Beach International Airport and IHOP represents a compelling investment opportunity, combining stable income generation with significant growth potential driven by its prime location near a major airport and the ongoing multifamily development activity in the area. As West Palm Beach continues to expand as a vibrant economic and residential hub, the property is well-positioned to capitalize on increased lodging demand, boosting both revenue and long-term value.
For additional information or to obtain and Offering Memorandum, please visit: QualityInnWPB.com
PROPERTY FACTS Under Contract
| Sale Type | Investment | No. Rooms | 135 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1986/2017 |
| Building Class | B | Tenancy | Single |
| Lot Size | 3.06 AC | Parking Ratio | 2.24/1,000 SF |
| Building Size | 53,544 SF | Corridor | Exterior |
| Zoning | GC | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 3.06 AC |
| Building Size | 53,544 SF |
| No. Rooms | 135 |
| No. Stories | 3 |
| Year Built/Renovated | 1986/2017 |
| Tenancy | Single |
| Parking Ratio | 2.24/1,000 SF |
| Corridor | Exterior |
| Zoning | GC |
AMENITIES
- Pool
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 135 | $196.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 74-43-43-29-00-000-5400 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $8,424,037 |
PROPERTY TAXES
Parcel Number
74-43-43-29-00-000-5400
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$8,424,037
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Quality Inn and IHOP | 1505 Belvedere Rd
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