Plaza Hotel Fort Lauderdale

272 Room Hotel | Fort Lauderdale, FL 33319 | $22,000,000 ($80,882/Room)

Asking Price $22,000,000

Property Type: Hospitality
Square Feet: 146,654 SF

Listing Contacts

Suraj Dalal

Verified Profile

Property Info

Property Overview

Kabani Hotel Group, as an exclusive representative of the seller, is pleased to present for sale the Plaza Hotel Fort Lauderdale. The subject property is a 272-room interior corridor hotel, built in 1974, with a lot size of 5.35 acres.
This property features an outdoor heated pool, fitness center, gift shop, four banquet spaces, conference room, game room, restaurant, and over 300 parking spaces. It is strategically positioned off State Road 7 (44,500 AADT) & W Commercial Blvd (55,000 AADT).
Major demand generators include Chase Stadium, Port Everglades, Fort Lauderdale International Airport, Fort Lauderdale Beach, Hard Rock Casino, and Florida Medical Center.
PROPERTY HIGHLIGHTS
Property Is Unencumbered Of A Flag
272-Rooms - Interior Corridor
Situated On 5.35 +/- Acres
Year Built - 1974 - Concrete Building
Amenities Include: Outdoor Heated Pool, Fitness Center, Gift Shop, Four Banquet Spaces, Conference Room, Game Room, Restaurant, and Over 300 Parking Spaces
Located Directly off State Road 7 (44,500 AADT) & W Commercial Blvd (55,000 AADT)
Forty Year Certification Completed In 2024
Eligible For Residential Conversion Under the Live Local Act.
FINANCIAL HIGHLIGHTS
List Price: $22,000,000 or $80,882 PPK
2021 Room Revenue of $5,566,883
2022 Room Revenue of $5,610,776
2021 ADR / Occupancy / RevPAR of $78.08 / 76.50% / $59.76
2022 ADR / Occupancy / RevPAR of $85.60 / 68.80% / $58.89
2021 Cap Rate: 9.50%
LOCATION HIGHLIGHTS
2.9 Miles to Chase Stadium
3.1 Miles to Fort Lauderdale Executive Airport
4.8 Miles to Port Everglades
8.7 Miles to Las Olas
10.4 Miles to Downtown Fort Lauderdale
16 Miles to Fort Lauderdale International Airport / Port Everglades

Property Details

Class: C
Year Built/Renovated: 1974/2004
Stories: 5
Property Subtype: Hotel
Lot Size (sq. ft): 129,373 SF
Units: 272

Highlights

Property Is Unencumbered Of A Flag
Forty Year Certification Completed In 2024
Eligible For Residential Conversion Under the Live Local Act
2022 Room Revenue of $5,610,776
2021 Room Revenue of $5,566,883

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