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Atlantic Hideaway 297 NE 6th Ave 14 Room Hotel Delray Beach, FL 33483 $4,500,000 ($321,429/Room) 9.06% Cap Rate
Executive Summary
PRIME LOCATION ON FEDERAL HIGHWAY IN EAST DELRAY BEACH
Blocks from Atlantic Avenue, Pineapple Grove, and public beach access
Serviced by Delray Beach’s Freebee shuttle service providing access to the greater downtown core and the beach
14-Key, cash-flowing Boutique Hotel
Renovated in 2017-2019
Features 3 courtyard areas and 20 surface parking spaces
STRONG DELRAY BEACH HOSPITALITY MARKET
Independent Chain Scale Hotels in have outperformed in the submarket
+15% CAGR in ADR since 2019
2024 Average ADR of $359/night
2024 Average Occupancy 60.4%
FAVORABLE CBD ZONING AND site size of 0.38 acres
Covered land play with future development potential in a rapidly expanding urban core
Multiple value-add and revenue growth Opportunities
Potential to optimize operational efficiencies, add amenities, and increase revenue via parking income
Blocks from Atlantic Avenue, Pineapple Grove, and public beach access
Serviced by Delray Beach’s Freebee shuttle service providing access to the greater downtown core and the beach
14-Key, cash-flowing Boutique Hotel
Renovated in 2017-2019
Features 3 courtyard areas and 20 surface parking spaces
STRONG DELRAY BEACH HOSPITALITY MARKET
Independent Chain Scale Hotels in have outperformed in the submarket
+15% CAGR in ADR since 2019
2024 Average ADR of $359/night
2024 Average Occupancy 60.4%
FAVORABLE CBD ZONING AND site size of 0.38 acres
Covered land play with future development potential in a rapidly expanding urban core
Multiple value-add and revenue growth Opportunities
Potential to optimize operational efficiencies, add amenities, and increase revenue via parking income
Property Facts
| Price | $4,500,000 | Building Class | C |
| Price Per Room | $321,429 | Lot Size | 0.38 AC |
| Sale Type | Investment | Building Size | 4,150 SF |
| Cap Rate | 9.06% | No. Rooms | 14 |
| Sale Condition | Redevelopment Project | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1948/2019 |
| Property Subtype | Hotel | Corridor | Exterior |
| Zoning | CBD, Delray Beach - Potential purchasers are advised to undertake their own due diligence as to potential property use. | ||
| Price | $4,500,000 |
| Price Per Room | $321,429 |
| Sale Type | Investment |
| Cap Rate | 9.06% |
| Sale Condition | Redevelopment Project |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 4,150 SF |
| No. Rooms | 14 |
| No. Stories | 1 |
| Year Built/Renovated | 1948/2019 |
| Corridor | Exterior |
| Zoning | CBD, Delray Beach - Potential purchasers are advised to undertake their own due diligence as to potential property use. |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 1 | $170.00 | - |
| Guest Room | 13 | $132.00 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 12-43-46-16-01-114-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,217,356 |
Property Taxes
Parcel Number
12-43-46-16-01-114-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,217,356
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Atlantic Hideaway | 297 NE 6th Ave
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