2904 International Speedway BlvdDaytona Beach, FL 32124

Property Details for 2904 International Speedway Blvd

Year built

1972

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.98 AC

Property size (Sq ft)

53,760 SF

Zone code

B6

Property type

Hospitality properties

Property subtype

Hotels

APN

5227-00-00-0030

APU

522700000030

Description

This 164-key, two-story Days Inn by Wyndham Daytona Beach Speedway hotel presents a compelling investment opportunity. Built in 1972, the property sits on a 2.98-acre lot and boasts an exterior corridor design. Its strategic location directly off Interstate 95 and International Speedway Boulevard offers exceptional visibility and accessibility, with high average daily traffic counts. The hotel is ideally situated near major attractions, including Daytona International Speedway (2.2 miles), Daytona Beach International Airport (3.4 miles), and Daytona Beach (5.3 miles), ensuring consistent demand from both leisure and business travelers. Proximity to Daytona State College and Embry-Riddle Aeronautical University further enhances its appeal to students and faculty. The hotel includes amenities such as an outdoor pool, business center, dining area, fitness center, guest laundry, and a free shuttle service to the Speedway. Financial highlights include a list price of $7,600,000, with projected revenue and capitalization rates available upon request. The property offers significant upside potential through a potential conversion to a dual-brand Econo Lodge/Suburban Studios, leveraging the strong brand recognition of established hotel franchises. This conversion, estimated at $750,000 (subject to verification), would allow the property to cater to both leisure and extended-stay guests. Alternatively, a property improvement plan to retain the Days Inn flag is estimated at $500,000+ (subject to verification). The property's strong performance, ranking third out of six competitors in its market for RevPAR index penetration, demonstrates its potential for continued growth and profitability. The Daytona Beach area attracts millions of tourists annually, fueled by events like the Daytona 500 and Daytona Bike Week, ensuring a robust and diverse customer base. This property offers a unique blend of established performance and significant growth potential in a high-demand market.

• CAP approach

  CAP return

  Valuation

  6%

  $10,394,078

  6.5%

  $9,594,534

  7%

  $8,909,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,102,888

  Geo Method

  $14,102,888

• Alternative Use

  Use

  Valuation

  Residential

  $10,474,443

  Hospitality

  $9,594,534

  Educational

  $7,982,540

  Medical

  $8,257,072

  Retail

  $12,417,284

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.1712

Longitude

-81.0869

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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