2595 54Th AveSt. Petersburg, FL 33714

Property Details for 2595 54Th Ave

Year built

1973

Construction

CONCRETE BLOCKS

Lot size

5.46 AC

Property size (Sq ft)

11,838 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

35-30-16-00000-430-1800

APU

353016000004301800

Description

This exceptional 106-room hotel, situated on a 2.38-acre lot in St. Petersburg, Florida, presents a compelling investment opportunity. Built in 1973 and completely renovated in 2021 at a cost exceeding $4.5 million, this property boasts new plumbing, electrical systems, fire panels, and furniture, fixtures, and equipment (FF&E). The exterior corridor design, coupled with a new pitched roof and concrete construction, ensures resilience. Its prime location near the high-traffic intersection of Haines Road (13,500 AADT) and 54th Avenue (21,000 AADT), with immediate access to I-275 (160,000 AADT), maximizes visibility and accessibility. The hotel benefits from proximity to major attractions including Tropicana Field (4.4 miles), The Museum of Fine Arts (5.1 miles), Orlando Health Bayfront Hospital (5.2 miles), and St. Pete-Clearwater International Airport (8.0 miles). Financial performance demonstrates strong revenue generation, with 2022 room revenue reaching $2,198,423 and 2023 room revenue at $2,014,513. Key performance indicators (KPIs) for 2022 include an Average Daily Rate (ADR) of $56.70, occupancy of 86.72%, and a Revenue Per Available Room (RevPAR) of $49.16. In 2023, the ADR was $84.16, occupancy was 60.9%, and RevPAR was $51.26. This property offers a unique blend of established infrastructure and strategic location, promising significant returns for the discerning investor. The property's address is 2595 54th Ave N, St. Petersburg, FL 33714, Pinellas County. The Property Appraiser Number (APN) is 35-30-16-00000-430-1800. The two-story building is a concrete structure.

• CAP approach

  CAP return

  Valuation

  6%

  $2,621,270

  6.5%

  $2,419,633

  7%

  $2,246,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,067,912

  Geo Method

  $3,067,912

• Alternative Use

  Use

  Valuation

  Residential

  $2,641,536

  Hospitality

  $2,419,633

  Educational

  $2,013,106

  Medical

  $2,082,340

  Retail

  $3,131,499

Location Insight

City

Saint Petersburg

County

Pinellas

State

Florida

Latitude

27.8225

Longitude

-82.6678

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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