3755 Cheney HwyTitusville, FL 32780

Property Details for 3755 Cheney Hwy

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.17 AC

Property size (Sq ft)

77,894 SF

Zone code

T

Property type

Hospitality properties

Property subtype

Hotels

APN

22-35-30-AV-00000.0-0071.01

APU

223530AV000000007101

Description

This exceptional investment opportunity presents a 141-key Days Inn by Wyndham located in Titusville, Florida, directly off Interstate-95. The property boasts high visibility and sits on approximately 4.17 acres. The hotel features two two-story buildings with an exterior corridor design. A significant asset is the inclusion of a net-leased IHOP restaurant generating approximately $62,382 in annual net operating income (NOI) under a lease extending to 2029, which is considered below market rate. Further enhancing the offering is a fully furnished, 900-square-foot, two-bedroom, one-bathroom apartment with a full kitchen, available for long-term lease, separate from the hotel's 141 rooms. The hotel's strategic location offers proximity to major attractions, including the Kennedy Space Center Visitor Complex (12 miles), Port Canaveral (23 miles), and three major airports within 40 miles. Recent financial data reveals a trailing twelve-month (T12) June 2024 net operating income of $824,002, a room revenue of $2,984,286, and a project room revenue multiplier of 3.08x. The average daily rate (ADR) was $80.99, occupancy was 71.40%, and the revenue per available room (RevPAR) was $57.83. The property, built in 1985, is considered to be in good condition, with a Wyndham-approved Dawn Package renovation completed. An estimated $150,000+/- change of ownership PIP is anticipated, subject to Wyndham Hotels verification. The property's location within the high-growth market of Brevard County, near diverse demand generators, positions it for continued success. The asking price is $9,800,000.

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.5496

Longitude

-80.8544

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].