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241 Palm Ave
Babson Park, FL 33827
Hillcrest Lodge & Apartments (REDUCED) · Hospitality Property For Sale
·
26,717 SF
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1917/2017 |
| Building Class | C | Parking Ratio | 2.47/1,000 SF |
| Lot Size | 5.87 AC | Corridor | Interior |
| Building Size | 26,717 SF | ||
| Zoning | Multifamily | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 5.87 AC |
| Building Size | 26,717 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1917/2017 |
| Parking Ratio | 2.47/1,000 SF |
| Corridor | Interior |
| Zoning | Multifamily |
AMENITIES
- Restaurant
- Meeting Event Space
ABOUT 241 PALM AVE , BABSON PARK, FL 33827
This property was originally built as a winter destination for Northern visitors escaping the cold and short term seasonal rentals. Under the second owners the emphasis was on short term family getaway catering to fishermen and others that were more interested in water sports. A boat ramp was added to make boating much easier for guests. The kitchen and dining room was operated on a demand need and used for special occasions and catering. The next owners around 2011 converted all of the units to long term rentals and used the lodge as a personal residence. The property was foreclosed by the second owners and they have renovated the apartments and lodge but are staying with the long term rental theme. The lodge building is ready for short term rentals and kitchen has been renovated and ready for service, but has not really been used in the past year. There is a demand for rooms from nearby Webber College and they have rented some of the apartments to students and faculty. Currently it is running a steady 90% occupancy on the apartments year round.
PROPERTY TAXES
| Parcel Number | 28-30-32-953400-000660 | Improvements Assessment | $1,007,095 |
| Land Assessment | $485,971 | Total Assessment | $1,493,066 |
PROPERTY TAXES
