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Seahorse Beach Bungalows Hotel 2502 Tamarind Dr 17 Room Hotel Hutchinson Island, FL 34949 $4,999,999 ($294,118/Room) 14.34% Cap Rate
Investment Highlights
- 1/2 Block from Beach, Quaint Bungalows, Peaceful Area in North Hutchinson Island, FL
Executive Summary
SEAHORSE BEACH BUNGALOWS — 17-KEY BOUTIQUE HOTEL | NORTH HUTCHINSON ISLAND, FL
ASKING PRICE: $4,999,999 | $294,118/Key | 8.34% Going-In Cap Rate
THE OFFERING
Florida Dreams Realty Group presents Seahorse Beach Bungalows — a fully renovated, turnkey 17-key boutique hotel one block from the Atlantic on North Hutchinson Island, FL. Priced at $294,118/key, this is approximately 43% below the coastal boutique comparable tier average of $516,000/key and below replacement cost.
IN-PLACE FINANCIALS (T-12: Aug 2025–Jul 2026)
• Revenue: $551,297
• NOI: $416,774
• Cap Rate: 8.34%
• Occupancy: 49.6%
• ADR: $179.11
• RevPAR: $88.85
• Room-Nights Sold: 3,078 of 6,205 available
• Expense Ratio: 24.4%
Q1 2026 (Jan–Mar): $212,906 revenue | 71.3% occupancy | $195.15 ADR
YTD Jan–Jul 2026: $354,848 revenue | $264,987 NOI
TWO SCENARIOS — FULLY LOADED
BASE CASE: 55% occupancy | $192 ADR | $903,335 total revenue | $513,791 NOI | 10.28% cap
UPSIDE CASE: 58% occupancy | $200 ADR | $1,117,528 total revenue | $688,956 NOI | 13.78% cap
Both scenarios carry full forward cost load including post-sale tax reassessment, incremental staff, 4% FF&E reserve, and a 7–10% buyer normalization reserve.
ROOM MIX (17 KEYS)
• 2 Queen Guest Rooms — $169/night
• 10 Queen with Kitchenette — $189/night
• 5 Double-Queen Suites (up to 6 guests) — $209/night
• Mix-weighted rate card: $192.53 (before 15% resort fee)
• 15 of 17 rooms ADA accessible
TURNKEY — ZERO PIP EXPOSURE
$1.5M top-to-bottom renovation completed 2023–2025:
• Custom FF&E throughout
• Walnut kitchenettes with quartz counters in 15/17 units
• Two-burner cooktops, Keurig, air fryer, full refrigeration
• New HVAC mini-split systems with individual climate control in all 17 units
• New metal roof on 1925 building (2024)
• Full renovation of flooring, bathrooms, lighting and millwork
12 UNTAPPED REVENUE STREAMS — BASE CASE +$248,087
Property currently operates rooms-only. Identified ancillary revenue opportunities:
• Weddings & Events: $72,000 (12 events × $6,000)
• Resort Fee (15%): $63,887
• Retreats & Buyouts: $24,000
• F&B/Café: $15,289
• Corporate/Meeting Space: $13,500
• Bike, Kayak & Beach Gear Rentals: $11,200
• Late Checkout & Early Check-In: $9,556
• Pet Fees: $9,556
• Parking & EV Charging: $9,000
• Vending & Sundries: $8,100
• Spa Revenue Share: $7,000
• Other: $5,000
Upside case total: $397,748
KEY ADVANTAGES
• FLOOD ZONE X — No mandated flood insurance required (FIRM panel 12111C0181K)
• Insurance ~$22,000/year (property + liability combined)
• 15 of 17 rooms ADA accessible — captures corporate, government & medical-tourism bookings
• Full architectural plans for resort pool, spa, cabana, sauna & fire pit convey with sale
• Physical expansion to 20–22 keys supported by site
• Active Certificate of Use | HIRD zoning with approved conditional use for lodging
COMPARABLE SALES (PER KEY)
• Grandview Gardens, West Palm Beach: $625,000/key (2025)
• Vista Lago Beach House, Fort Pierce: $491,667/key (2026)
• Jensen Beach Inn with Restaurant: $433,333/key (2026)
• Tier Average: $516,000/key
• SEAHORSE ASKS: $294,118/key — 43% below tier midpoint
LOCATION & MARKET
2502 Tamarind Dr, North Hutchinson Island, FL 34949 | St. Lucie County
• 1 block from Atlantic Ocean beach access
• Pepper Park Beach: 0.5 mi
• Fort Pierce Inlet State Park: 0.7 mi
• Navy UDT-SEAL Museum: 1.2 mi
• Downtown Fort Pierce: 4.5 mi
• Treasure Coast International Airport: 7 mi (commercial service launching 2026)
• Vero Beach luxury corridor: 22 mi
• North Causeway Bridge replacement under construction
Same 28-mile barrier island as Disney's Vero Beach Resort, Costa d'Este, Kimpton Vero Beach, Windsor and Orchid Island — at entry-tier pricing.
PROPERTY DETAILS
• 0.435± acres | 5,034 SF | Two buildings (1925 & 2007)
• Masonry construction | Exterior corridor | 2.2 stories
• Surface parking | Complimentary Wi-Fi | On-site laundry
• Pet-friendly | Dedicated office/check-in
• Property Tax: $44,712/yr (in place)
• Parcel: 1425-603-0006-000-1
OFFERING PROCESS
Offering Memorandum, operating workbook, monthly statements, rate schedules and architectural plans available upon executed NDA. Tours by appointment only — 24-hour notice required. Offers reviewed as received.
Contact: Adriana Montes | Florida Dreams Realty Group Inc.
License BK3096165 | (772) 321-5879 | adriana@floridadreamsrealty.com
ASKING PRICE: $4,999,999 | $294,118/Key | 8.34% Going-In Cap Rate
THE OFFERING
Florida Dreams Realty Group presents Seahorse Beach Bungalows — a fully renovated, turnkey 17-key boutique hotel one block from the Atlantic on North Hutchinson Island, FL. Priced at $294,118/key, this is approximately 43% below the coastal boutique comparable tier average of $516,000/key and below replacement cost.
IN-PLACE FINANCIALS (T-12: Aug 2025–Jul 2026)
• Revenue: $551,297
• NOI: $416,774
• Cap Rate: 8.34%
• Occupancy: 49.6%
• ADR: $179.11
• RevPAR: $88.85
• Room-Nights Sold: 3,078 of 6,205 available
• Expense Ratio: 24.4%
Q1 2026 (Jan–Mar): $212,906 revenue | 71.3% occupancy | $195.15 ADR
YTD Jan–Jul 2026: $354,848 revenue | $264,987 NOI
TWO SCENARIOS — FULLY LOADED
BASE CASE: 55% occupancy | $192 ADR | $903,335 total revenue | $513,791 NOI | 10.28% cap
UPSIDE CASE: 58% occupancy | $200 ADR | $1,117,528 total revenue | $688,956 NOI | 13.78% cap
Both scenarios carry full forward cost load including post-sale tax reassessment, incremental staff, 4% FF&E reserve, and a 7–10% buyer normalization reserve.
ROOM MIX (17 KEYS)
• 2 Queen Guest Rooms — $169/night
• 10 Queen with Kitchenette — $189/night
• 5 Double-Queen Suites (up to 6 guests) — $209/night
• Mix-weighted rate card: $192.53 (before 15% resort fee)
• 15 of 17 rooms ADA accessible
TURNKEY — ZERO PIP EXPOSURE
$1.5M top-to-bottom renovation completed 2023–2025:
• Custom FF&E throughout
• Walnut kitchenettes with quartz counters in 15/17 units
• Two-burner cooktops, Keurig, air fryer, full refrigeration
• New HVAC mini-split systems with individual climate control in all 17 units
• New metal roof on 1925 building (2024)
• Full renovation of flooring, bathrooms, lighting and millwork
12 UNTAPPED REVENUE STREAMS — BASE CASE +$248,087
Property currently operates rooms-only. Identified ancillary revenue opportunities:
• Weddings & Events: $72,000 (12 events × $6,000)
• Resort Fee (15%): $63,887
• Retreats & Buyouts: $24,000
• F&B/Café: $15,289
• Corporate/Meeting Space: $13,500
• Bike, Kayak & Beach Gear Rentals: $11,200
• Late Checkout & Early Check-In: $9,556
• Pet Fees: $9,556
• Parking & EV Charging: $9,000
• Vending & Sundries: $8,100
• Spa Revenue Share: $7,000
• Other: $5,000
Upside case total: $397,748
KEY ADVANTAGES
• FLOOD ZONE X — No mandated flood insurance required (FIRM panel 12111C0181K)
• Insurance ~$22,000/year (property + liability combined)
• 15 of 17 rooms ADA accessible — captures corporate, government & medical-tourism bookings
• Full architectural plans for resort pool, spa, cabana, sauna & fire pit convey with sale
• Physical expansion to 20–22 keys supported by site
• Active Certificate of Use | HIRD zoning with approved conditional use for lodging
COMPARABLE SALES (PER KEY)
• Grandview Gardens, West Palm Beach: $625,000/key (2025)
• Vista Lago Beach House, Fort Pierce: $491,667/key (2026)
• Jensen Beach Inn with Restaurant: $433,333/key (2026)
• Tier Average: $516,000/key
• SEAHORSE ASKS: $294,118/key — 43% below tier midpoint
LOCATION & MARKET
2502 Tamarind Dr, North Hutchinson Island, FL 34949 | St. Lucie County
• 1 block from Atlantic Ocean beach access
• Pepper Park Beach: 0.5 mi
• Fort Pierce Inlet State Park: 0.7 mi
• Navy UDT-SEAL Museum: 1.2 mi
• Downtown Fort Pierce: 4.5 mi
• Treasure Coast International Airport: 7 mi (commercial service launching 2026)
• Vero Beach luxury corridor: 22 mi
• North Causeway Bridge replacement under construction
Same 28-mile barrier island as Disney's Vero Beach Resort, Costa d'Este, Kimpton Vero Beach, Windsor and Orchid Island — at entry-tier pricing.
PROPERTY DETAILS
• 0.435± acres | 5,034 SF | Two buildings (1925 & 2007)
• Masonry construction | Exterior corridor | 2.2 stories
• Surface parking | Complimentary Wi-Fi | On-site laundry
• Pet-friendly | Dedicated office/check-in
• Property Tax: $44,712/yr (in place)
• Parcel: 1425-603-0006-000-1
OFFERING PROCESS
Offering Memorandum, operating workbook, monthly statements, rate schedules and architectural plans available upon executed NDA. Tours by appointment only — 24-hour notice required. Offers reviewed as received.
Contact: Adriana Montes | Florida Dreams Realty Group Inc.
License BK3096165 | (772) 321-5879 | adriana@floridadreamsrealty.com
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 15 | $159.00 | 350 |
| Guest Room | 2 | $132.00 | 350 |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Contact the Sale Advisor
Seahorse Beach Bungalows Hotel | 2502 Tamarind Dr