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SVN | Commercial Advisory Group | 1626 Ringling Boulevard, Suite 500, Sarasota, FL 34236 OFFERING MEMORANDUM
ANNA MARIAISLAND RESORTMOTEL- WITHBEACH ACCESS2201 GULF DR. NBRADENTON BEACH, FL 34217
Mike Migone CCIMSenior Investment [email protected]
OFFERING MEMORANDUMSVN | Commercial Advisory Group | 1626 Ringling Boulevard, Suite 500, Sarasota, FL 34236
PROPERTY INFORMATION 3Property SummaryProperty DescriptionComplete Highlights
LOCATION INFORMATION 7Location MapsAerial Map
FINANCIAL ANALYSIS 10Financial SummaryIncome & ExpensesUnit Mix Summary
DEMOGRAPHICS 14Demographics ReportDemographics MapAdvisor Bio & Contact 1
2201 Gulf Dr. N | Bradenton Beach, FL 34217
PROPERTY INFORMATIONFOR SALE | HOSPITALITY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
1 PROPERTY INFORMATIONPROPERTY
INFORMATION2201 Gulf Dr. N
Bradenton Beach, FL 34217
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 3
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 4
OFFERING SUMMARY
Sale Price: $4,100,000
Cap Rate: 7.37%
NOI: $302,000
Lot Size: 0.482 Acres
Building Size: 7,096
Renovated: 2007
Zoning: R3
Market: Sarasota, Charlotte,
Manatee
Price / SF: $577.79
Excellent opportunity to purchase a well maintained motel property in the heart of Anna Maria Island. The property wascompletely renovated in 2007 and reopened Sep. 1st 2007. Guests have private beach access less than 60 ft from theproperty. Property has 14 rooms ranging from Studio to 3BR/2B. Heated pool and private hot tub, rooftop sun deck,laundry, wireless internet. Property is managed by RVA (Resort vacation rentals). Sale price includes all furniture andamenities.
All the amenities of a large resort with the added benefits of a private, uncrowded hideaway. Decorated using clean linesand fresh colors, all while remaining inviting and engaging, this resort includes all that is signature to Resort VacationAccommodations, a ResortQuest® Affiliate. Each unit features a full-size kitchen, private washer and dryer, largeflat-screen plasma TVs, modern decor, granite counter tops and pillow top mattresses qualifying it as a gold-ratedproperty using property quality standards.
Link to The Beach Club at Anna Maria- http://www.rvafl.com/beachclub/
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Extremely desirable location on Anna Maria Island
• 60 ft from white sands of the Gulf of Mexico- Beautiful west coast beach views
• GREAT OPPORTUNITY!- perfect for an active owner operator
• Heated swimming pool
• Rooftop sun deck
• 32" and 42" plasma TVs
• Pillow top mattresses
• Private beach access directly across the street
• Full kitchen with stainless steel appliances and granite countertops
• Community hot tub
• Wireless Internet access
• DVD and VCR
• Washer and dryer
• Contact listing broker to see the property and for full marketing package
Property Summary
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 5
Excellent opportunity to purchase a well maintained motel property in the heart of Anna Maria Island. Theproperty was completely renovated in 2007 and reopened Sep. 1st 2007. Guests have private beachaccess less than 60 ft from the property. Property has 14 rooms ranging from Studio to 3BR/2B. Heatedpool and private hot tub, rooftop sun deck, laundry, wireless internet. Property is managed by RVA (Resortvacation rentals). Sale price includes all furniture and amenities.
All the amenities of a large resort with the added benefits of a private, uncrowded hideaway. Decoratedusing clean lines and fresh colors, all while remaining inviting and engaging, this resort includes all that issignature to Resort Vacation Accommodations, a ResortQuest® Affiliate. Each unit features a full-sizekitchen, private washer and dryer, large flat-screen plasma TVs, modern decor, granite counter tops andpillow top mattresses qualifying it as a gold-rated property using property quality standards.
Link to The Beach Club at Anna Maria- http://www.rvafl.com/beachclub/
PROPERTY OVERVIEW
Property has excellent frontage on Gulf Drive and 22nd St. N.
LOCATION OVERVIEW
Property Description
SALE HIGHLIGHTS
• Extremely desirable location on Anna Maria Island
• 60 ft from white sands of the Gulf of Mexico- Beautiful west coast beach views
• GREAT OPPORTUNITY!- perfect for an active owner operator
• Heated swimming pool
• Rooftop sun deck
• 32" and 42" plasma TVs
• Pillow top mattresses
• Private beach access directly across the street
• Full kitchen with stainless steel appliances and granite countertops
• Community hot tub
• Wireless Internet access
• DVD and VCR
• Washer and dryer
• Contact listing broker to see the property and for full marketing package
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 6
Complete Highlights
2201 Gulf Dr. N | Bradenton Beach, FL 34217
LOCATION INFORMATIONFOR SALE | HOSPITALITY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
2 LOCATION INFORMATIONLOCATION
INFORMATION2201 Gulf Dr. N
Bradenton Beach, FL 34217
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 7
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 8
Location Maps
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 9
Anna Maria Island ResortMotel- with beach access
Aerial Map
2201 Gulf Dr. N | Bradenton Beach, FL 34217
FINANCIAL ANALYSISFOR SALE | HOSPITALITY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
3 FINANCIAL ANALYSISFINANCIALANALYSIS
2201 Gulf Dr. NBradenton Beach, FL 34217
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 10
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 11
INVESTMENT OVERVIEW
Price $4,100,000Price per Room $292,857CAP Rate 7.4%Cash-on-Cash Return (yr 1) 7.37 %Total Return (yr 1) $302,000
OPERATING DATA
Gross Income $506,000Operating Expenses $204,000Net Operating Income $302,000Pre-Tax Cash Flow $302,000
Financial Summary
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 12
INCOME SUMMARY PER SF
Gross Income $506,000 $71.31
EXPENSE SUMMARY PER SF
Gross Expenses $204,000 $28.75
Net Operating Income $302,000 $42.56
Income & Expenses
UNIT TYPE COUNT % TOTAL
1BR/1B 10 71.4
2BR/2B 1 7.1
3B/2B 1 7.1
Studio 2 14.3
Totals/Averages 14 100%
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 13
Unit Mix Summary
2201 Gulf Dr. N | Bradenton Beach, FL 34217
ANNA MARIA ISLAND BEACH CLUB RESORT MOTELFOR SALE | HOSPITALITY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
4 DEMOGRAPHICS4
DEMOGRAPHICS2201 Gulf Dr. N
Bradenton Beach, FL 34217
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 14
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 15
1 MILE 5 MILES 10 MILES
Total population 1,009 22,978 151,782
Median age 53.0 56.8 47.4
Median age (male) 51.6 55.1 45.8
Median age (female) 54.3 57.6 48.3
Total households 526 11,168 67,549
Total persons per HH 1.9 2.1 2.2
Average HH income $62,852 $75,519 $60,782
Average house value $502,745 $436,187 $256,631
* Demographic data derived from 2010 US Census
Demographics Report
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 16
POPULATION 1 MILE 5 MILES 10 MILES
Total population 1,009 22,978 151,782
Median age 53.0 56.8 47.4
Median age (male) 51.6 55.1 45.8
Median age (Female) 54.3 57.6 48.3
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 526 11,168 67,549
# of persons per HH 1.9 2.1 2.2
Average HH income $62,852 $75,519 $60,782
Average house value $502,745 $436,187 $256,631
* Demographic data derived from 2010 US Census
Demographics Map
ANNA MARIA ISLAND RESORT MOTEL- WITH BEACH ACCESS | 2201 GULF DR. N, BRADENTON BEACH, FL 34217 SVN | Commercial Advisory Group | Page 17
1626 Ringling Boulevard, Suite 500Sarasota, FL 34236T 941.487.6986C [email protected] #BK399768
PROFESSIONAL BACKGROUND
Mike Migone, CCIM serves as a Senior Investment Advisor for SVN | Commercial Advisory Group specializing in the saleof retail and investment properties locally and throughout the Country. With 25+ years of real estate experience, Migonewas recognized as his companies Top Advisor in 2012 and ranked in the top two in 2013, 2014 and 2015. Mike hasextensive experience with Single Tenant Net Leased Investments, Medical Office, Industrial, and Multifamily. He alsoexcels in retail site selection for his developer clients, and the subsequent disposition of these properties uponcompletion.
One of Migone's proudest career accomplishments is his CCIM designation. CCIM's are among an elite corps of morethan 15,000 professionals who hold the CCIM designation across North America and more than 30 countries. Mike is alsoa member of the Commercial Investment Division of the Sarasota Association of Realtors.
In his spare time, Migone and his wife Cindy love to participate in all of the recreational resources and amenities that thebeautiful Sarasota, Florida area has to offer.
EDUCATION
Associates Degree in Business Administration at Broward College.
MEMBERSHIPS & AFFILIATIONS
CCIM, GRI
MIKE MIGONE CCIM
Senior Investment Advisor
Advisor Bio & Contact 1