250 SE 20th Ave
Deerfield Beach, FL 33441
Redevelopment Opportunity · Hospitality Property For Sale · 12 Rooms

Property Highlights •Corner Lot, 13914 SF •One-Story 12-Unit Motel •Year Build 1954 •Zoning RM-25 Multi-Family •A prime location in upscale Hillsboro Beach. •East of A1A within a walking distance from the beach, less than 600 feet. •Located in the vicinity of luxurious condominiums and Hotels which should fetch the highest rent rates. •Close proximity to major roads , Hwys, shoppes and restaurants. •Currently, the property is being operated as weekly rentals (fully occupied) at a rate below market rent due to the quality & age of the building, lack of property maintenance and lack of adequate amenities. •Same ownership for over 40 years. •Strong demand for traditional and vacation rentals in the area. •Strong economic fundamentals across the region. •MF is by far the highest and best use of the site. RM-25 Multi-Family (Under One Acre) ***REDEVELOPMENT OPPORTUNITY: Preliminary Assessment Suggests: •4-Story Building •24-32 Units •Ground-Level Parking Garage/Office/ Laundry Facility •Roof-Top Swimming Pool/BBQ Area Comparable Location Rates 1/1 Units Average $2,000 /Month Seasonal $3,000-$3,500/Month *** Submarket Expenses Ratio 40% Average Trade Area Cap Rate 5.72% DIMENSIONAL REGULATIONS Max. Lot Coverage Ratio 40% Max. Floor Area N/A Max. Hight 55 Feet Min. Floor Area: 1Bedroom 700 SF—1.5 Parking Space/Unit 2Bedrooms 900 SF—2 Parking Spaces/Unit Min. Lot Area 1,750 SF/DU Min. Lot Width 100 FT Min. Landscaped Area 30% Minimum Yard Requirements Front 25 FT Corner 25 FT Side 10 FT Rear 15 FT