Property Item # 116

OFF MARKET
Property Address: not disclosed-private and confidential.
ST. PETERSBURG BEACH, FL 33706

SERIOUS PRICE REDUCTION PER THE SELLER FROM $12,500,000, "NOW" $9,950,000 PLUS 5% Buyer’s Fee
MASSIVE PRICE REDUCTION IN THE MILLIONS.
Forecast/General Manager Report

> Please see the current yearly sales report for ----------- Hotel. This includes completed bookings and pending bookings for 2022. This does not include tax.

> 2022 > Net Revenue: $1,208,016.75
> ADR: $292.811

>Our goal for 2022 is to hit $1.5 million. We are pushing heavily to reach this, and I strongly believe we can pick up the additional $300k somewhere.

> Also, with the credibility the hotel has after this first year, I strongly believe the first 6 months of 2023 will be absolutely insane for us. We are pushing rates of $300-$450 for January-April and seeing a decent amount of bookings come in for those dates and rates already. With the restaurant fully prepared for lunch, dinner and open 7 days of the week, I see a very big future for them as well in those first 6 month.
Purchase Price "NOW" $9,950,000 + 5% Buyers Fee
PRICE REDUCED $3M
Off Market Waterfront Hotel & Restaurant
Extremely Off Market Florida Opportunity
Tampa Bay Metro, St. Petersburg,
Clearwater, St Petersburg Market, St Pete Beach Community
Sunset Way Address, Awesome Water Views
Building Size 15,568 Sq Ft, Lot Size 14,201 Sq Ft
Built in 1949, 19 Totally Renovated Keys, Extra Huge Parcel
Keys Can Be Expanded 27 Keys
From The Seller: Once the buyer is interested, the buyer must participate with their buyer’s package to be able for the seller to move forward, no exceptions!!!!!
Impressive St Pete Beach Hotel and Rare Water View Restaurant for Sale
Off Market Opportunity
The .............. Hotel is upscale with top to bottom renovations of the 19 rooms located on Sunset Way in the well-known Gulf Coast community of St Pete Beach. The hotel is very modern with a myriad of retro aspects. The complex features numerous amenities including high-end outdoor furniture, umbrellas, a stellar new pool, and gas fire pits.
The Site also boasts custom hand-blown glass chandeliers, custom accent walls in the guestrooms, specialty-made solid wooden headboards, plush beauty rest mattresses with linen fabrics, contemporary furnishings, mini fridge, microwave, two-burner stovetop, kitchen sink, and in-room dining in every suite.
To be sure to provide authenticity and uniqueness, designers included and featured one-of-kind art and murals by the artistically notable and local Vitale Brothers.
The hotel has averaged over $284 ADR since opening with anticipated occupancy exceeding 75%.
It has been rewarded with numerous accolades including #1 Hotel on St Pete Beach by Trip Advisor and #1 Hotel by Tampa Magazine.
THE RESTAURANT BONUS FACTOR: The Offering includes an indoor/outdoor restaurant, a separate entity, the 82 Degrees Bar & Grille. The Sellers have been approached to lease but will leave a lease or owner/operated decision to the future hotelier/proprietors. To be sure it is a superb amenity and a popular place generating revenue from both registered guests and the consistent overwhelming support of the local community.

The 82 Degrees restaurant was imagined as a result of second floor room directions facing the Gulf of Mexico providing patrons with an abundance of impressive water and sunset sights all while enjoying live music, alfresco dining options, an affordable children’s gourmet children’s menu, locally sourced produce, indoor and outdoor space for craft cocktail savoring, fine wine tasting, local beer distilling, and seasonal specials. Since opening in 2021 the complete operation has been awarded outstanding compliments and has already received an amazing #2 rating of ALL St Pete Beach restaurants.

POTENTIAL DEVELOPMENT OPPORTUNITY and VALUE ADD: To be sure there is huge upside or development play for the new owner. This Seller anticipated future growth and had the foresight to obtain four surrounding parcels that totals .58 acres providing options for 27 additional rooms and covered parking, perhaps even a roof top bar, subject to required approvals that would need to be obtained by the purchaser (much of that groundwork has begun). The price for the adjoining land is an additional $2.75M.

LOCATION DESCRIPTION: The location could not more perfect - the site, as mentioned before, is located in the immensely popular St Pete Beach. The address can be found on the famed Sunset Way, the portion of which runs along the waterfront and is targeted and tagged by investors and the City alike for rejuvenation as A MUST go to destination.

The operation is only a few blocks west of the main corridor of the Beaches and on the beach side of Gulf Blvd. All of Gulf Blvd is filled with an amazing collection of hotels, restaurants, and shops within walking distance!
St Pete Beach is impressively accessible from both the south and the north thoroughfares of west Florida via Tampa International (20 minutes), Sarasota International (40 minutes) and Orlando International (90 minutes) via the soon to be completed interstate system that is both convenient and under an impressive update due to the unbelievable renaissance Pinellas County is experiencing.

The Interstate system also makes the very popular Downtown District of St Petersburg only 13 minutes away.
Gulf Blvd provides easy access to all the famous Gulf Coast communities like Treasure Island, Madeira Beach, Redington Beach, and Indian Rocks Beach.
****Also this property did not have any damage from Hurricane Ian.

ID: 5794

Mt. Vernon Baltimore Multi-Family/Hotel GEM

Mt. Vernon Conversion Project, W. Madison St & Park Ave, TWO Buildings
18,000 SQ. FT. above grade total, Madison St - 11,640 SQFT, Park Ave - 6,600 SQFT
Buildings are connected by a rear courtyard, Currently a combined 28 suite Hotel
Formerly a Boarding House for Students, Each suite has it's own heating/cooling system

Each suite has living room areas (Ideal for APT Conversion)
Many of the suites have original fireplaces
Can be converted back to Hotel, B&B, APT Building, Rooming/Boarding House, Retirement Community, etc.

Historic Prime Location minutes from Downtown Baltimore, NEEDS UPDATED REHAB

Current Asking Price:$1.69M for BOTH buildings plus buyer pays commission
CIRCUMVENTION PROHIBITED RECORDED SENT

ID: 5723

(Brand name) DOWNTOWN GREENSBORO, NORTH CAROLINA HOTEL

They’re asking $50K per key; hotel has 285 keys. That comes out to be $14,250,000 Plus buyer pays commission.

Get me your buyer’s bio and POF and I’ll get you the “rest of the story.”

THIS IS A CONFIDENTIAL OFERING.

THE OFFERING:
The Offering herein presents the opportunity to acquire the fee-simple interest in the 285-room
Major Brand name Hotel in Downtown, Greensboro, North Carolina.

As the only full-service hotel in Greensboro’s CBD, the Hotel attracts high-rated business from a diverse set of demand generators given its best-in-class product offering and unmatched downtown location. Leveraging recently renovated guestrooms and meeting/public space, the Hotel drives more than $25,000 per key in net operating income and is ideally positioned to benefit from increasing concentration of demand in the CBD.

This offering presents a compelling opportunity to acquire a best-in-market, full-service (Major Brand Hotel) boasting nearly $50,000 per key in recent high-impact capital upgrades that produces significant cash flow with meaningful near-term growth potential.
Exceptional Asset Performance with Continued Upside

This Downtown Greensboro Hotel has generated strong and steady growth over the long term through its strategic positioning, excellent guest offerings, and a diverse and expanding demand base.

The Hotel has a demonstrated history of outsized net operating income growth illustrated by its 4.5% CAGR since 2014, and the comprehensive capital upgrades completed in 2020 have accelerated further net operating income growth with a 40% increase since 2018.
Transformational Recent Renovation

Completed in 2020, the Hotel's nearly $50,000 per key renovation included comprehensive upgrades across all 285 guestrooms, all public areas, and its 28,000+ square feet of meeting space. Its modern accommodations, best-in-class public/meeting space and fully activated property have positioned it as the hotel of choice in Greensboro and among the best full-service offerings in the region.

Unrivaled Location in Booming Urban Location

This (Major Brand Hotel) is the only full-service hotel located within the downtown Greensboro core and will benefit from significant public and private investment that continues to shift the epicenter of demand into downtown. Downtown Greensboro is in the midst of a revitalization with a focus on creating a downtown streetscape similar to those of nearby Greenville, South Carolina and Durham, North Carolina.

Recent new developments include the Steven Tanger Center for Performing Arts, which opened its doors in 2021 very close to the Hotel, and the Bellemeade mixed-use development which occupies nearly an entire city block between the Marriott and First National Bank Field. With the wider Central North Carolina region experiencing record economic expansion, Greensboro's 2030 Strategic Plan aims to reinvent Downtown Greensboro into one of the region’s premier work-live-play environments.

​​​​​​​THE CAROLINA CORE: Driving Unprecedented Private, Public, & International Investment

​​​​​​​Located between Charlotte and the Research Triangle and anchored by Greensboro, Winston-Salem, High Point and Fayetteville, the “Carolina Core” has emerged as North Carolina’s next economic engine where infrastructure, a deep talent pool, and an exceptionally strong business climate combine for a globally competitive market.

Tens of billions of dollars of public and private investment in recent years has transformed this region into an increasingly diverse and prosperous economy. Multi-billion dollar corporations including FedEx, Honda Aircraft Company, HAECO, and Wolfspeed have accounted for a combined $12 Billion in recent investment activity in Greensboro.

Greater Greensboro's significant growth in corporate investment is primarily driven by the significant number of existing, under construction, and proposed “Mega Sites." These Triad region Mega Sites have attracted $18 Billion of international corporate investment since 2021—including Toyota, who will open a seven million square foot battery manufacturing campus in 2025 and add 5,100 jobs to the Greensboro economy.
circumvention prohibited