WYNDHAM HOWARD JOHNSON 1-95 VERO BEACH · Airport/Orlando International Airport HOWARD JOHNSON INN...
Transcript of WYNDHAM HOWARD JOHNSON 1-95 VERO BEACH · Airport/Orlando International Airport HOWARD JOHNSON INN...
CONFIDENTIAL OFFERING MEMORANDUM • SWAPNA SHAH
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
1985 90th Avenue, Vero Beach, FL 32966
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
Swapna Shah Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]
WYNDHAM HOWARD JOHNSON 1-95 VERO BEACH
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
HOTEL OFFERING FOR SALE
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presented by:
PROPERTY INFORMATION 4
LOCATION INFORMATION 9
DEMOGRAPHICS 17
ADVISOR BIOS 19
Realtor-Sales AssociateO: 813.882.0884
C: 813.789.4142
Swapna Shah
President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]
Kari L. Grimaldi/ Broker
The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.
By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.
The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.
This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.
The information contained herein is not a substitute for a thorough due diligenceinvestigation.
Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forthherein.
Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.
CONTENTS CONFIDENTIALITY & DISCLAIMER
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
TABLE OF CONTENTS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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SALE HIGHLIGHTS
• Wyndham Howard Johnson Brand
• Located in Desirable Vero Beach at busy I-95
• Florida's 7th richest counties
• 63 Rooms/ADR $74.45
• 72% occupancy rate last 12 months
• 45 Double Queen rooms
• 18 King rooms
• Renovated in 2017
• 73,034 SF located on 3.45 Acres
• Close to Beaches and Attractions
• Vero Beach Airport and Close to Orlando
Melbourne Airport/Palm Beach International
Airport/Orlando International Airport
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
COMPLETE HIGHLIGHTS
PROPERTY INFORMATION
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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OFFERING SUMMARY
Sale Price: $4,500,000
Lot Size: 3.45 Acres
Year Built: 1985
Building Size: 73,034 SF
Zoning: CG- Commercial
General
Market: Vero Beach
Price / SF: $61.62
Listing Agent: Swapna Shah
AVAILABLE SPACES
SPACE LEASE RATE LEASE TYPE SIZE (SF)
For Lease Negotiable 0 SF
HOTEL PROPERTY OVERVIEWHoward Johnson Inn by Wyndham Hotel Vero Beach, FL Investment for sale.
Located on 3.45 Acres in Vero Beach at visible I-95 exit. CG zoning. Renovated in2017 per PIP/Howard Johnson standards. New interior renovations, new roof,new HVAC. All equipment owned, not leased.15 year Franchise licensing agreement-2010 with 5 years remaining.Royalty Fee- 6.5%63 Guest rooms, 4 Manager Apartments, and 2 Storage rooms. 45 DoubleQueen rooms, and 18 King rooms.All Guest rooms provide conveniences like refrigerators and microwaves, plusfree WiFi and TVs with satellite channels. Guests will also find coffee makers,free local calls, and hair dryers.The hotel is 73,034 SF and guest room portion is 25,933 SF. 80 Parking spaces.Average Daily Room rate- $74.45Hotel Occupancy rate- 72%
Located in Vero Beach at I-95 exit, close to Vero Fashion Outlets (.9 miles) andVista Plantation Golf Club (2.8 miles), surrounded by residential communities,retail, and businesses. This hotel is within the region of Holman Stadium atDodgertown and Vero Beach Theatre.
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
HOTEL EXECUTIVE SUMMARY
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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PROPERTY OVERVIEW
Located on 3.45 Acres in Vero Beach at visible I-95 exit. CGzoning. Renovated in 2017 per PIP/Howard Johnson standards.2017- New interior renovations, new roof, new HVAC. Allequipment owned, not leased.15 year Franchise licensing agreement-2010 with 5 yearsremaining.Royalty Fee- 6.5%63 Guest rooms, 4 Manager Apartments, and 2 Storage rooms.45 Double Queen rooms and 18 King rooms.
All Guest rooms provide conveniences like refrigerators andmicrowaves, plus free WiFi and TVs with satellite channels.Guests will also find coffee makers, free local calls, and hairdryers.The hotel is 73,034 SF and guest room portion is 25,933 SF.80 Parking spaces.
Average Daily Room rate- $74.45Hotel Occupancy rate- 72%
Indian River County is a county located in the Treasure Coastregion of the U.S. state of Florida. As of the 2017 census, thepopulation was 154,383. Its seat is Vero Beach. It is Florida's 7thrichest county and in 2000 was the 87th richest county in theU.S. by per capita income.
Indian River County comprises the Sebastian-Vero Beach,Florida Metropolitan Statistical Area, which is included in theMiami-Fort Lauderdale-Port St. Lucie, Florida CombinedStatistical Area.
Located in Vero Beach at I-95 exit, close to Vero Fashion Outletsand Vista Plantation Golf Club. This hotel is within the region ofHolman Stadium at Dodgertown and Vero Beach Theatre/ArtMuseum.
PLEASE DO NOT GO INTO HOTEL OR CONTACT EMPLOYEES OFHOTEL. CONTACT AGENT FOR SHOWING.
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
HOWARD JOHNSON INN BY WYNDHAM AT 1-95 VERO BEACH
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
EXTERIOR PHOTOS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
GUEST ROOM PHOTOS
LOCATION INFORMATION
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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CITY ATTRACTIONS
Vero Beach And Beach Parks Vero Beach Outlet Malls
Treasure Coast Seaplanes
Airboat Rides & Guides
Vero Beach Museum Of Art
Vista Plantation Golf Club
Riverside Theatre Botanical Gardens Water Sports Rentals Less Than 2 Hours From Disney World And Orlando
CITY HIGHLIGHTS
• Florida's Atlantic Coast Beaches
• Treasure Coast Vacation Destination
• Eclectic shopping and restaurants
• Historic Downtown Vero Beach
• National Register of Historic Places
• Thriving Arts community
• Water Sports
• Museums and Art classes
• Theatre Guild and much more
VERO BEACH, FL
Located in Vero Beach at I-95 exit, close to Vero Fashion Outlets and Vista Plantation Golf Club, Vero Beach Airport. This hotel iswithin the region of Holman Stadium at Dodgertown and Vero Beach Theatre/Art Museum.
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
VERO BEACH INFORMATION
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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CITY ATTRACTIONS
Clearwater Beach/St Petersburg Beach
Busch Gardens Tampa Bay/Tampa Zoo
Museum Of Science And Industry
Dali Museum/Chichuly Museum
Tropicana Field
The Florida Aquarium
CITY HIGHLIGHTS
• Tamps Bay's West Coast Beaches
• Museums
• Eclectic shopping and restaurants
• Historic Downtown - Tampa, Clearwater, St. Pete
• Theme Parks
• Clearwater/St. Pete Pier
• Sports Arenas
• Museums and Art classes
• Theatre Guild and much more
TAMPA BAY AREA
The Tampa Bay area encompasses several cities - Tampa, St. Petersburg, and Clearwater. All cities border Florida's west coast,covering nearly 400 square miles. Tampa Bay consistently ranks as being one of the best long term real estate investments in theU.S throughout the last ten years.
TAMPA BAY AREA INFORMATION
Located on the west coast of Florida, Tampa Bay is a densely populated metropolitan area, second only to Miami, with a population of more than four million people. Major cities in this area include St. Petersburg, Largo, Clearwater, New Port Richey, Holiday, and Tampa. Tampa’s
local economy is worth about $130 billion and the metro area has been ranked as one of the top
20 fastest growing in the country. Tampa also has a strong local economy with a strong focus on job growth in areas such as STEM, financial services, and healthcare. The Greater Tampa Bay Area is consistently ranked among the top 20 fastest growing metro areas in the country and with billions of dollars of residential, commercial, and infrastructure investments underway, it is one of the engines of the Florida economy. In 2016 alone, the Metro Tampa Area added 40,000 new jobs to the community giving it the fastest growth in the state and one of the fastest in the country. Also these factors drive increasing levels of personal consumption, which translates to strong, consistent retail demand.
More than 19 firms, with annual revenues of more than $1 billion, are headquartered here and it is home to four Fortune 500 companies.
Tampa Market Statistics
Median Sales Price: $193,000
Median Rent Per Month: $1,400
Median Household Income: $44,000
Metro Population: 3.1 M
1-Year Job Growth Rate: 2.05%
6-Year Equity Growth Rate: 61%
7-Year Population Growth: 10.85%
Unemployment Rate: 3.4%
Tampa Market Quick Facts
1. Tampa ranks # 4 in the nation's top five rent growth markets in 2019 and has year-over-
year rent growth at 5.5%. 2. An area with mostly high-priced homes, Tampa still has pockets where investors can find
homes at affordable prices (even as low as $120,000) and turn around to rent them for $1,075 a month to $1,400 a month.
3. New jobs from Amazon and a talent pipeline from the University of South Florida helped push the Tampa metropolitan area to the No. 15 spot on the Milken Institute's 2018 index of best-performing cities in the United States.
4. The area has numerous strong Fortune 500 companies including Publix Super Markets Inc., Jabil Circuit Inc., and WellCare Health Plans, Inc.
5. Tampa remains a fantastic tourism market with reported record 126.1 million visitors in 2018 and
o one of the best cities to buy real estate.
6. It’s a popular option for retirees as well, providing for many short-term rental opportunities.
7. Tampa income growth outperforms the national average.
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
TAMPA BAY AREA MARKET STATISTICS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 2 • LOCATION INFORMATION
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Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 2 • LOCATION INFORMATION
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HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
LOCATION MAPS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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1985 90th Avenue
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
AERIAL MAPS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
RETAILER MAP
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
VERO BEACH AERIAL/MAP
DEMOGRAPHICS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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POPULATION 1 MILE 5 MILES 10 MILES
Total population 588 18,815 109,321
Median age 51.7 53.6 46.1
Median age (Male) 51.2 52.2 44.5
Median age (Female) 52.1 54.4 47.4
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 260 8,769 45,681
# of persons per HH 2.3 2.1 2.4
Average HH income $49,949 $58,645 $61,595
Average house value $126,409 $154,970 $206,695
* Demographic data derived from 2010 US Census
HOWARD JOHNSON INN BY WYNDHAM VERO BEACH/I-95
1985 90th Avenue, Vero Beach, FL 32966
DEMOGRAPHICS MAP & REPORT
ADVISOR BIOS
SWAPNA SHAH
Commercial Realtor
ADVISOR BIO
PROFESSIONAL BACKGROUND
Swapna Shah has a strong rapport and extensive professional experience working with the
Tampa Bay community, and a passion for commercial real estate. She has demonstrated
leadership qualities and is known in different venues as persuasive and getting the job done.
Swapna has vast professional network and has been a Tampa Bay resident for over 25 years with
personal experience investing in commercial real estate as an owner. When Swapna needed real
estate experts 10 years ago to advise her regarding her commercial real estate needs, she turned
to Grimaldi Commercial Realty, Tampa’s most branded company. Because of Grimaldi
Commercial Realty’s integrity and straight forwardness in their dealings, she was left with such a
positive impression. When Swapna ventured into real estate brokerage she knew that she wanted
the finest Commercial Real Estate Company to mentor her to become a top notch real estate
professional.
Swapna’s own experience buying, selling and leasing has given her a keen understanding of
client’s needs. She is a poised and competent leader in our community and is capable and
passionate about turning client’s dreams into realties.
Swapna has a degree in Business Administration
EXPERTTISE
Hotels/Motels
Office/Medical
Investment Properties
Convenience stores/Gas Stations
1031 Exchanges
CONTACT
Swapna Shah
Cell: (813) 789-4142 | Fax: (813) 960-9830
www.GrimaldiCommercialRealty.com
ADVISOR BIO
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
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Contact your Sales & Leasing Staff at Grimaldi Commercial Realty Corp.
GRIMALDI COMMERCIAL REALTY CORP.COMPANY BACKGROUND AND SERVICES
EST. 1975, EXPERIENCE IS THE DIFFERENCEGrimaldi Commercial Realty Corp. has been serving the Tampa Bay and surrounding areas in Florida since 1975. Our vastexperience and unparalleled knowledge and presence in the local market makes us the professional of choice in commercial realestate and investment properties. We have the Commercial and Investment markets totally unmatched with a team of experiencedagents that specialize in all sectors of the commercial market:
We utilize the latest in technology being affiliated with over 40+ local, national, and international commercial marketing sites to aggressively market andmove our listings to closing quickly.
Grimaldi Commercial Realty Corp. performs a careful assessment of each client’s needs before creating the perfect andspecialized marketing plan for each property. Our philosophy of continuing hands-on involvement throughout the entire processhas led to continued success and growth since 1975. One of Tampa Bay’s premier and acknowledged commercial real estateexperts, Grimaldi Commercial Realty Corp. provides a personalized and professional service approach with a history of long-termclient relationships.
• Seller & Buyer Representation• Landlord & Tenant Representation• Investment & Financial Analysis• Property Valuation• Short sales & Foreclosures
• Property Management• Multifamily and Income Producing Investments• Land Sales & Development• Retail and Office Sales & Leasing• Industrial Sales & Leasing
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 4 • ADVISOR BIOS
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