6490 Us Highway 1Port St. Lucie, FL 34952

Property Details for 6490 Us Highway 1

Property size (Sq ft)

5,826 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

Description

This exceptional 13-unit motel in Port St. Lucie, Florida, presents a lucrative investment opportunity. Boasting 5,826 square feet, the property enjoys a prime location near beaches, golf courses, shopping, and restaurants, ensuring high occupancy rates. The Rainbow Motel offers a mix of unit types, including a two-bedroom apartment and twelve efficiencies, all equipped with amenities such as refrigerators, microwaves, and guest laundry facilities. ADA-accessible rooms are also available. Significant renovations were completed in 2023, encompassing flooring, kitchens, paint, and bathrooms in most units. The motel's strong financial performance is documented, with a 2023 Net Operating Income (NOI) of $225,000, representing a nearly 13.24% cap rate. Pro-forma projections indicate an even higher NOI of $275,000 and a 16.18% cap rate, showcasing substantial growth potential. The property is zoned for commercial general use and is offered at an asking price of $1,700,000. This turnkey operation provides easy management and exceptional returns, making it an ideal addition to any investment portfolio. The property is located at 6490 S US Hwy 1, Port St. Lucie, FL 34952.

Location Insight

City

Port St. Lucie

County

St Lucie

State

Florida

Latitude

27.3469

Longitude

-80.3253

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