Sea Spray Inn

4245 El Mar Drive

Lauderdale-by-the-Sea, FL 33308

SOLD

Hotel for Sale

Listing Status:Active – Available
Property TypeBoutique Hotel / Inn
Building Square Feet:3,275
Acres:0.13
Year Built:1962
Number of units7
Listing IDF1291390

Rich Barnhart BrokerRich Barnhart, Broker

Direct: 954-980-7795
Office: 954-351-7007

Turn Key Opportunity

This is a fantastic opportunity to own one of South Florida`s most beautiful boutique hotels. The recently renovated Sea Spray Inn is completely turn-key and ready for you to take over. The inn has 7 total units, including 3 one-bedroom apartments, 2 studios, a carriage house and a large penthouse with amazing ocean views. This wonderful inn is ideal for a resident operator, investor or current hotelier looking to expand their operation. Located just 50 yards from the beach and a short walk to dozens of shops, bars, restaurants and fishing pier, this very special inn provides its guests with the ultimate in walk-ability and local amenities.

Financial Summary and Unit Mix

*For additional financial information including 2013 detail and pro forma model please contact listing broker

Financial Summary
Year2013Pro Forma*
Gross Income$154,401$274,789
Expenses$79,326107,223
Net Operating Income$75,075$167,566
Unit Mix
One Bedroom3
Efficiency3
Penthouse (1 bed + den)1

Property Highlights

  • Excellent barrier island location in Lauderdale-by-the-Sea just steps to the beach and walking distance to restaurants and shopping
  • Corner lot on quiet street across from ocean has potential for future development opportunity
  • Flexible room mix provides owner with plenty of rental options – daily, weekly and long term rentals possible
  • Penthouse has amazing ocean views and could be perfect owner unit
  • Major upgrades and renovations completed since 2012
    • New roofs with 25 year warranty
    • Full concrete restoration with new balconies, railings and paint
    • All new impact windows and doors
    • All new furniture, fixtures, appliances and flat panel TVs
    • Remodeled Bathrooms and Kitchens
    • New grade 5 commercial tile in all units
    • CONTACT BROKER FOR COMPLETE LIST OF RENOVATIONS

Photo Gallery

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Location – Lauderdale-by-the-Sea, FL

Nestled in the heart of beautiful Lauderdale-by-the-Sea in the heart of South Florida’s Gold Coast, the Sea Spray Inn offers an excellent location for its guests. Conveniently located within walking distance to dozens of restaurants, shopping and pristine white sand beaches, it doesn’t get any better than this. Convenient to Fort Lauderdale beach, Las Olas Blvd., Fort Lauderdale-Hollywood International Airport, International cruise port and the Fort Lauderdale Arts and Entertainment District, this quaint seaside inn is close to it all, yet just far enough off the beaten path to provide a quiet and relaxing vacation experience.

Lauderdale-by-the-Sea is known for its quaint shops, restaurants, world famous fishing pier and accessible coral reef. As the “Shore Dive Capital of South Florida” you are a short swim away from world class snorkeling and scuba diving.

Memberships and Awards

Superior Small Lodging White Glove WinnerWinner 6 years in a row of the “White Glove Award from Superior Small Lodging Association

Tripadvisor #1TripAdvisor: #1 B&B in Lauderdale-by-the-Sea

Member – Lauderdale-by-the-Sea Chamber of Commerce

Member – VisitFlorida

Member – Fort Lauderdale Convention and Visitor’s Bureau

Documents and Links

Available documents: Survey, 2013 Income/Expense, Financial Pro Forma, renovation list, personal property list and additional proprietary information.
Ask listing broker for access to these documents.

Sea Spray Inn web site

Lauderdale-by-the-Sea Town Web Site

Contact Broker Rich Barnhart for additional information and to request additional documents