Siesta Key Bungalows

Hospitality for Sale
Also listed as Special Purpose
Catylist Listing ID: 30024109
Property Subtypes: Hotel, Motel, Resort
Number of Units: 10 Units
Building Size (RSF): 5,490 SF
Gross Building Area: See Agent
Gross Land Area: 29,012 SF
Sale Price: $3,399,000
Unit Price: $339,900 Per Unit
Property Use Type: Investment
Building Name: Siesta Key Bungalows Condo Hotel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/9/2017

Overview / Comments

SEE LINK BELOW FOR INDIVIDUAL CONDO UNIT PRICING.AND SUPPORTING DOCUMENTS.
http://properties.michaelsaunders.com/SiestaKeyBungalows

This meticulously-maintained, 10-unit boutique motel on South Siesta Key is now available for sale. The entire resort property, as managed, can be acquired in total.
Or take advantage of the opportunity to acquire one or more of the 10 units as a condo-tel (condo hotel) owner.
All 10 units are now officially State of Florida approved condominiums. But this filing will not hamper the existing or future operation as a resort motel.
The buyer can continue to run the property as a resort motel and sell off all 10 to individual owners.

Please see the list of Bungalow Amenities and Improvements.
Unit owners can choose from the following:
1) Existing motel furnishings in the respective units.
2) Unfurnished and decorate as desired.
3) *Pre-furnished with a William Dobson decorator package. *There is an additional cost for decorating.

Recent Accolades Include:
2017 Certificate of Excellence Award from Tripadvisor
2017 White Glove Award from Superior Small Lodging

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0128020012
Zoning: RSF2
Retail Clientele: Family, Business, Traveler, Tourist, Recreation
Property Located Between: From mainland Sarasota, cross over the south Siesta Key bridge at Stickney Point Rd.
Property Visibility: Excellent
Feet of Frontage: 150
Highway Access: I-75
Airports: SRQ
Site Description: Acquired in 2004 by the current owner, this meticulously maintained resort motel has been winning awards and the hearts of guests ever since. The Siesta Key Bungalows is now available for one lucky investor to acquire the property in total. Or 10 potential individual investors looking for a Siesta Key get-away with the availability of rental income.
Total Number of Buildings: 4
Number of Stories: 1
Property Condition: Excellent
Year Built: 1953
Year Renovated: 2016
Parking Type: Surface
Lot Frontage: 150
Lot Depth: 172

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,311 39,933 95,800
Median Age: 55.74 57.99 53.64
Households: 633 20,747 46,904
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