Daytona Beach, Florida
Opportunity to Acquire a Well Posi oned Hotel with Substan al Upside in Daytona Beach
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL - AT A GLANCE
Address: 103 S. Ocean Ave. Dayton Beach, Florida 32118
Hotel Size: 8 Stories, 112 Rooms , Building: 123,230 SF. Land: 1.018 Acres
Renova ons : Completed December 2017
Func on Space: Renovated Mee ng / Breakfast Room, 40’ Tiki Deck, Sports Bar
Hotel Ameni es: Wifi, Outdoor Heated Pool, Ocean Front Tiki Deck, Beach
Other Ameni es: Adjoining Rooms Available, Full Kitchen Rooms Available
Year Built: 1973
APN/Parcel ID: 04-15-33-01-03-0020 / Zoning Descrip on: RDB1
Building Class: Hotels/ Motels (039)
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com OFFERING
Direct Oceanfront Hotel located at 103 S. Ocean Ave. Daytona Beach, Florida.
The Mayan Inn features 112 completely renovated rooms, all with full balconies offering direct ocean views.
The hotels’ ameni es include a breakfast / mee ng room, sports bar for live entertainment, 40’ Tiki- deck for private events, and a heated outdoor pool overlooking “The World’s Most Famous Beach”.
This loca on also provides easy walking access to many of Daytona Beach's top a rac ons and businesses.
Only a few blocks away from the Daytona Beach pier, main street and Daytona’s boardwalk and amphitheatre.
Located within 4.5 miles of the Daytona Beach Airport and the Daytona Interna onal Speedway, Daytona 500 and Coke Zero 400.
Walt Disney World, Universal, Sea World and Cape Canaveral are less than an hour's drive away.
The hotels revenues are strong with a value-add opportunity to increase rates while keeping the independent hotel as-is, unencumbered from management.
In addi on, the current owner has received interest from a limited service hotel franchise to flag the hotel With aggressive incen ves for a new owner as an op on to Re-brand the hotel which would be geared to both leisure and business travelers.
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com CAPITAL IMPROVEMENTS
Renova ons Completed: January 2018
-Lobby completely renovated. -Breakfast / Mee ng area renova on complete. -Pool Area complete. Pool resurfaced, new furniture. -Bar completely renovated. New flooring, furniture, appliances. -Carpets in all guest rooms replaced with le. -New bathroom flooring and fixtures in all rooms. -All guest bathrooms have new granite counter top and vanity. -All new appliance package in 14 of the full kitchen / Suite rooms. -The addi onal 98 rooms have new refrigerators and microwaves. -Tub to Shower Conversion in guest bathrooms. -Installing new Artwork in guest rooms. -All new light fixtures for interior and exterior of property. -All rooms have been textured and painted. -Complete landscaping package. VALUE ENHANCEMNET OPPORTNITIES -All Renova on in common areas complete. -Repainted complete exterior of building. Floors, railings and doors. -Replaced 70% of the PTACs in guest rooms. -Replaced all common areas ACs. -All new linens complete and 2 PAR for property. -Property has all brand new bed frames and ma resses. -All TVs have been replaced in guest rooms & common areas. -Tiki deck completely remodeled and new Tiki built on top. -Changed all Interior and exterior doors on the whole property. -Both elevators completely modernized. -Resurfaced parking lot. -Installed new property line fencing. -New roof Installed. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INVESTMENT HIGHLIGHTS
-Highly Visable, Epicenter Loca on In Daytona Beach.
-Recently Renovated Asset at a Significant Discount to Replacement Value.
-The Proper es Interior Renova ons of Rooms and Common Areas have been Completed.
-The Exterior of the Building has New paint, R oof, Fence, and a Resurfaced Parking Lot.
-Consecu ve Record Year for Florida Tourism Directly Benefits Daytona Beach.
-Unencumbered by Management.
VALUE ENHANCEMNET OPPORTNITIES
- Introduce a New Restaurant & Tiki Deck Bar to the Vacant Space.
- Enclose exterior Coridors.
- Explore Re-Branding op ons.
- Opportunity to Close Occupancy Gap within the Compe ve Set.
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW
The City of Daytona Beach’s goal has been to build upon its reputation as a year-round destination resort and convention location through the following initiatives:
• Redevelopment of the historic district along Beach Street and the old downtown waterfront area.
• Zoning districts that encourage the development of hospitality uses in the areas on either side of International Speedway Blvd. (ISB) between Atlantic Avenue and the Intracoastal Waterway (Halifax River).
• Road and landscape improvements along Speedway from US 1 to the ocean, and all along Atlantic Avenue.
• Promotional campaigns to boost convention business, coupled with $76 million expansion to its convention complex, tripling its size.
While Daytona is located on the east coast, its influence and activity market area extends along the ocean from Ormond Beach south through Daytona Beach, Daytona Beach Shores, Wilber by the Sea, Ponce Inlet, and down to New Smyrna Beach for total distance of 36 miles of beach area. It extends inland to the Deland, Deltona and Orange City and northward to lager County.
Along with the sand, sun and surf, several manufacturing firms, including numerous medical device manufacturers, calls Deltona-Daytona Beach-Ormond Beach home. Several healthcare giants such as Tyco Healthcare/Kendall and Gambro-Renal Products have facilities in the region.
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW - Con nued
Travel and Hospitality
• An increase in interna onal travel to U.S. resort des na ons as a result of favorable exchange rates. • 95% of Florida visitors to the Daytona Beach area are repeat visitors. • 35% of out-of-town visitors are new visitors. • “Close to home” remains the main draw with visitors from Florida, indica ng they are familiar with the events and the area. • Florida visitors stay an average of 2.4 days. • Out-of-state visitors stay 4.7 days, and 74% drive their own vehicles to Daytona while 26% fly. • Average travel party size for Florida residents was 2.3 people and 2.4 for out-of-state visitors. • 84% of Florida residents traveled with no children under 18, while 77% of out-of-state visitors traveled with no children under 18.
(Source: PricewaterhouseCoopers LLP and Smith Travel Research)
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW - Con nued
ONE DAYTONA will serve as the Daytona Beach area’s premier retail, dining and entertainment des na on beginning in 2017. Located directly across from the all-new Daytona Interna onal Speedway, the world’s first motor sports stadium, ONE DAYTONA will serve as a gateway to Daytona Beach at the crossroad of I-95 and I-4.
With over 300,000 square feet and a projected investment of approximately $120 - $150 million, ONE- DAYTONA is a significant project anchored by Bass Pro Shops®, Cobb Theatre, a Marrio Autograph Collec on® hotel and Fairfield Inn & Suites, and an approximately 300-unit residen al apartment community including a four-story mid-rise campus and garden style complex.
ONE DAYTONA will quickly become synonymous with visitors, mee ng and conven on delegates, race fans and residents as east Central Florida’s place to live, work, stay and play.
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL LOCATION
Strength:
Location • Optimal Oceanfront location in Daytona Beach.
• Close proximately to all major venues and points of interest in the area.
Landscape • Generous views of Atlantic Ocean.
Future of the Waterfront Area • Benefit from new Waterfront vision: City council has implemented a substantial development plan focused on the improvement of the waterfront areas.
• Over $2 billion being invested in infrastructure and airport, coupled with massive private development spending for new condominium and hotel projects
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com MAP
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com AERIAL
Future Marrio Courtyard
City Parking Lot
Private Land
Mayan Inn
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com AERIAL
Future Mayan Inn Marrio City Courtyard Parking Lot Private Land
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL PHOTOS
Ocean Front Tiki Deck
Outdoor Heated Pool
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com PHOTOS
Mee ng / Breakfast Room
Full Service Ocean Front Bar
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com PHOTOS
Ocean Front Fully Renovated Double Room
Fully Renovated Bathrooms
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com PHOTOS
Fully Renovated King Room w/ Hot tub
Direct Ocean Views
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH DEVELOPMENTS AND ACTIVITIES
COMPLETED PROJECTS: --- State funded $246.3 million for a new interchange in Daytona Beach and widening of the last four---lane sec on of Interstate 95. In addi on to the new interchange at I---95 and Interstate 4, widening of I---95 from State Road 44 in New Smyrna Beach to just south of Daytona Beach is almost complete. This project has vastly increased the ability for the roads to handle increased traffic volume to---and---from Daytona, while substan ally reducing travel mes. --- An $18 million pedestrian safety project was completed on U.S. 92/Interna onal Speedway Boulevard corridor (at the Daytona Speedway), featuring wider sidewalks and a pedestrian bridge. Daytona Interna onal Airport (DAB) has had $65 million in capital improvements since 2006. ---Jet Blue commenced flights in Jan. 2016. For the 12 months ending February 2017, total passenger traffic at DAB increased 9.2 percent with 648,086 passengers traveling through the facility last year compared to 708,116 passengers this year. Daytona Rising: --- $400 million complete renova on of the Daytona Motor Speedway, adding numerous luxury suites, concessions and ameni es. One Daytona: $900 million construc on project from the France family (Daytona Speedway), includes a Marrio Autograph and Fairfield Suites hotels, mul family residences, Cobb VIP Theatre, and numerous restaurants and entertainment venues. April 2017: Summit Hospitality Group announced the new Hard Rock Hotel on the beach. Changed plans from a Wes n Hotel to the Hard Rock brand. Expected to open by December 2017. ---Increasing their investment from $32 million to $40 million for the rebuild.
$91.3 million, 350,000---square---foot Tanger Outlets, includes a 22,000---square---foot H&M, Gap, Columbia Sportswear, Carters, Express, Levis, Osh Kosh, Under Armour and Banana Republic. The project, being developed by Greensboro, N.C.---based Tanger Factory Outlet Centers Inc. crea ng 400 construc on jobs and 800 permanent full---and part--- me jobs.
La tude Margaritaville: --- $1 billion development with 6,900 homes catering to the 55+ crowd. ---The $1 billion Daytona Beach loca on as featuring 7,000 two---and---three---bedroom homes and said residents could be moving in by mid---2018. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INFRASTRUCTURE
Daytona Beach is accessible by two major interstates. I-95 provides easy access to Miami, 234 miles to the south, or Jacksonville, 97miles to the north. I-4 permits easy access to Orlando, 40 miles to the west, and Tampa, 105 miles west. Daytona Beach International Airport (DBIA) is the “Gateway to Central Florida,” linking the world- famous Atlantic Ocean beaches and the Daytona International Speedway with Orlando attractions, Kennedy Space Center, and historic St. Augustine. Daytona Beach International Airport makes arriving in Daytona Beach as pleasant as staying here. Daytona Beach is a convenient alternative to the uncertainties of Orlando and Jacksonville traffic.
The strategic location of the airport provides quick access to the East/Central Florida region. Orlando International Airport (MCO) is the third largest U.S. airport by land area. MCO is located in the most popular tourist destination in the world and has served over 664 million passengers since opening in 1971. MCO serves 114 destinations with nonstop service from Orlando and 833 cities are served by airlines that operate out of Orlando.
Orlando Sanford International Airport (SFB) boasts the finest leisure passenger facilities in the United States. The airport is conveniently located within the boundaries of the City of San- ford, 18 miles northeast of Orlando. SFB provides its customers with convenient, state-of-the-art facilities and excellent highway access to Florida’s renowned beaches and all Orlando are attractions. (Source: FlyDaytonaFirst.com; orlandoairports.net; eflorida.com)
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INFRASTRUCTURE Continued
Some of the high-profile venues and events include Speed Weeks – (Daytona 500, Coke Zero 400, and the following: Daytona 200 motorcycle race) – approximately 400,000 attendees
News-Journal Center – The News-Journal Center is Daytona Beach Bike Week – approximately 550,000 a center for the performing and visual arts and attendees education that welcomes participating artists and visitors from primarily the region but also from Biketoberfest – approximately 125,000 attendees throughout the state and the nation. The concept is a facility for professional performances, educational Spring Break – approximately 80,000 attendees outreach and community-wide involvement. Inside Daytona Beach is also host of the Daytona 500, the the Center is an 860-seat traditional style proscenium opening race of the NASCAR Sprint Cup season. theater with an orchestra pit as well as a 260-seat Fondly remembered as the true icon of the original studio theater. The Center is suitable for corporate family beach vacation, Daytona Beach is focused meetings, conferences, receptions and banquets and on attracting nostalgic visitors, first-time vacationers holds approximately 403 events for 100,000+ and convention meetings. International Speedway audience members. Corporation (ISC), received approval for an estimated $437 million mixed-use entertainment Ocean Center – Ranked as the 5th largest center in destination development named “Daytona Live!”, the state, the facility doubled in size to 264,000 square feet after a $76 million expansion, which was The popularity of Daytona Beach and the renowned completed in February of 2009. This is significant Daytona International Speedway will create a unique environment and unparalleled entertainment because the state is already home to two of the experience for racing fans, visitors and Volusia largest convention facilities in the nation (Orlando and County residents. Miami). (Source: eflorida.com)
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INFRASTRUCTURE Continued
Population
One Mile Two Mile Three Mile Volusia Radius Radius Radius County Florida
2010 Population 6,461 26,837 51,130 494,593 18,801,310
2016 Population 6,215 26,284 50,139 545,600 21,000,000
Households
One Mile Radius Two Mile Radius Three Mile Radius 22526 2016 Households 3529 12291 40.7 Median Age 43.1 39.5 Median Household Income $26,219 $26,816 $31,107 Average Household Income $36,949 $37,534 $41,817
Florida Facts
In the U.S., Florida is:
• The nation’s 4th most populous state (Census, 2010)
• Has the 4th largest labor force (BLS, 2010)
• Has the 4th highest number of business establishments (BLS, 2006)
• Has the 4th largest Gross State Product (BEA,2010) • Miami is second only to New York as a U.S. center for international Banking. More than 300 financial institutions – including over 70 International banks – operate in Florida.
• Is the 4th largest producer of exported goods (BEA, 2010)
• Is the 9th largest recipient of Foreign Direct Investment (eflorida.com) • Every business in Florida is within 90 Miles of one of 14 deep-water ports. (eflorida.com)
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL AREA MARKET DATA MARKET DATA
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INQUIRIES
Please do not visit the property unless accompanied by the Listing Agent, as well as not to disturb or interact with the employees of the property.
CONTACT
Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com