UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 5,257 sqft
Price per Sqft $665
MLS Listing ID FC290302
Construction Status Completed
HOA Y/N No
Year Built 1945
Annual Tax Amount $29,584
Lot Size 0.570 Acres
Acres 0.57
Property Sub-Type Hotel/Motel
Source Stellar MLS
Property Description
Cap Rate 7.45%
Ample outside deck and pergola seating at the Golden Magnolia takes advantage of the breathtaking ocean and pool views throughout the property which lead to a beach entry offering guests miles of relaxing, sandy beaches. It also features poolside day beds, pool deck picnic tables and umbrellas, outdoor lounge areas, an outdoor gas fireplace, new air conditioning systems, and a new water heater, lowering the estimated capital expenditures for buyers. Additionally, the resort is fully licensed for liquor, restaurant, and spa services and is available to book through major booking sites, providing multiple avenues from which to capitalize.
Buyers can acquire an asset equidistant to Jacksonville and Orlando in a community projected to see a 16.5% growth in population by 2027. That figure reflects a trend throughout the region of new residents looking to Northern Florida's warmer climate to provide a perpetual vacation destination unrivaled by the rest of the country. That will buoy already high traffic counts that exceed 16,000 vehicles per day, adding to the number of potential guests attracted to the retreat. The Golden Magnolia Resort and Spa at 1104 Oceanshore Boulevard is ideally suited for buyers searching for their next investment in a rapidly-growing community.
Location
State FL
County Flagler
Area 32136 - Flagler Beach
Interior
Heating Central, Exhaust Fan, Heat Pump
Cooling Central Air
Flooring Carpet, Ceramic Tile, Laminate, Parquet
Appliance Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior
Parking Features Parking Spaces - 19 to 30, Ground Level, Lighted
Utilities Available BB/HS Internet Capable, Electricity Available, Phone Available, Public, Water Connected
Waterfront Description Beach Front,Gulf/Ocean
View Y/N Yes
Water Access Yes
Water Access Desc Beach,Gulf/Ocean
Roof Type Cement
Building
Lot Description Flood Insurance Required, Waterfront
Story 2
Entry Level Two
Foundation Basement, Block, Crawlspace, Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Stucco
New Construction false
Construction Status Completed
Others
Ownership Corporation
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/FC290302
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