8010 W Highway 98, Port St. Joe, FL 32456 (MLS# 736346)

8010 W Highway 98, Port St. Joe, FL 32456

$2,124,999

Property Type: Commercial for Sale Square Footage: 8,717 Lot Size (sq. ft.): 118,919 Status: Sold

Current Price: $2,124,999 List Date: 1/13/2023 Last Modified: 10/04/2024

Overview

Description

**PLEASE READ IN ENTIRETY** MOTEL ONLY SALE. ANNUAL GROSS IS $340,000-$350,000. OWNER FINANCING POSSIBILITY WITH $600,000 DOWN AND 1 YEAR BALLOON, OR $750,000 DOWN AND 2 YEAR BALLOON. 15 RENOVATED UNITS PLUS A 1BD, 2BA 1300 SQUARE FOOT OWNER/MANAGER LIVING AREA WITH FULL KITCHEN, LIVING ROOM AND PANTRY. MOTEL AND ADJACENT VACANT LOT SELLING FOR $3,499,000 (OWNER FINANCING ONLY OPTION FOR MOTEL AND LAND COMBINED IS WITH $900,000 AND A 1 YEAR BALLOON) GIVING A COMBINED 2.7 ACRES. MOTEL WAS COMPLETELY RENOVATED FROM STUDS TO RAFTERS AFTER HURRICANE MICHAEL. ALL ROOMS ARE NEWLY FURNISHED. LOBBY HAS A MANAGERS OFFICE, FULL LAUNDRY ROOM, SODA AND VENDING/ICE MACHINE. ALL INFORMATION IS APPROXIMATE AND SHOULD BE VERIFIED BY BUYERS IF IMPORTANT.

Listing Details MLS# 736346

Contract Info

List Price/SqFt: 269.59
Sub-Type: Hotel/Motel

Location

Area: 07 – Gulf County
Street #: 8010
Street Direction: W
Street Name: Highway 98
State: FL
Zip Code: 32456
County: Gulf
Sub Area: 0702 – Gulf County – St. Joe Beach
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 03973-055R
Directions: HWY 98 EAST TO MEXICO BEACH AND THE FORGOTTEN COAST INN WILL BE ON THE LEFT
Legal Description: S 5 T 7 R 11 370 FT US 98 FRONT; 332 DEPTH ORB 192/25 FR CRAWFORD MAP# 17A

General Property Info

List Class: Motel/Hotel
Construction Status: Construction Complete
Acreage: 2.73
Frontage Ft: 370
SqFt Tot Bldg: 8717
Year Built: 1959

Status Change Info

Under Contract Date: 2023-04-22
Sold Date: 2023-06-26
Sold Price/SqFt: 243.78
Sold Price/Acre: 778387.91

Listing Info, Tax and Legal

HOA Fee: No

More Information

Remarks & Misc

Remarks: **PLEASE READ IN ENTIRETY** MOTEL ONLY SALE. ANNUAL GROSS IS $340,000-$350,000. OWNER FINANCING POSSIBILITY WITH $600,000 DOWN AND 1 YEAR BALLOON, OR $750,000 DOWN AND 2 YEAR BALLOON. 15 RENOVATED UNITS PLUS A 1BD, 2BA 1300 SQUARE FOOT OWNER/MANAGER LIVING AREA WITH FULL KITCHEN, LIVING ROOM AND PANTRY. MOTEL AND ADJACENT VACANT LOT SELLING FOR $3,499,000 (OWNER FINANCING ONLY OPTION FOR MOTEL AND LAND COMBINED IS WITH $900,000 AND A 1 YEAR BALLOON) GIVING A COMBINED 2.7 ACRES. MOTEL WAS COMPLETELY RENOVATED FROM STUDS TO RAFTERS AFTER HURRICANE MICHAEL. ALL ROOMS ARE NEWLY FURNISHED. LOBBY HAS A MANAGERS OFFICE, FULL LAUNDRY ROOM, SODA AND VENDING/ICE MACHINE. ALL INFORMATION IS APPROXIMATE AND SHOULD BE VERIFIED BY BUYERS IF IMPORTANT.

Construction/Siding

Block: Yes
Concrete: Yes
Roof – Shingle/Shake: Yes

Energy

AC – Central Elect: Yes
AC – Window/Wall: Yes
Heat – Central Electric: Yes
Storm Windows: Yes

Financing

Cash: Yes
Conventional: Yes
Seller Financing: Yes

Present Zoning

Commercial: Yes
Resort: Yes

Association Amenities

Laundry: Yes

Sale Type

As Is: Yes

Business/Property

Freestanding Building: Yes
Furnished – All: Yes
Laundry Facilities: Yes
Living Quarters: Yes
Office Area: Yes
Restrooms – Private: Yes
Restrooms – Public: Yes

Floors in Unit/Home

One: Yes

Heating/Cooling

AC – Window Unit(s): Yes

Hotel/Motel

Year Built: 1966
Actual Gross Income: 360000

Offering Type

Real Estate: Yes
Sale Only: Yes

Pricing Type

Sale Price: Yes

Property Features

Energy: AC – Central Elect; AC – Window/Wall; Heat – Central Electric; Storm Windows Financing: Cash; Conventional; Seller Financing Offering Type: Real Estate; Sale Only Pricing Type: Sale Price Present Zoning: Commercial; Resort Sale Type: As Is

Listing Office: RE/MAX SELECT Partners

Last Updated: October – 04 – 2024

Information deemed reliable but not guaranteed.