610 Donax St, Sanibel, FL 33957
3 Unit Apartment Building | $1,999,999 ($666,666/Unit) | 10.58% Cap Rate | Sanibel, FL 33957
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,999,999
- Property Type
-
Multifamily
- Square Feet
- 2,498 SF
Listing Contacts
April Nixon
Verified Profile
- Property Info
Property Overview
This gem is a once in a lifetime opportunity for a buyer looking for an impressive income stream. This quaint three unit Inn is located in the Resort Zone and has always been rented as a daily rental. Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel for its shells, beaches and small town vibe. New Central Air Conditioner, new furniture and enhancements in upper unit. The other 2 units have been rebuilt in totality, ground up. Also new roof, new siding, new landscaping, we have focused on each part of the process with forethought and care to make this again a destination for guests throughout the Country and Internationally. This Inn has been rented on the major online accounts since 2017 and has built up a reputation for consistent bookings. 2024 calendar is already booking out, so a buyer will close with income already in place. In addition, many previous guests book direct and come back year after year. This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment without the volatility of other investment options. With all the working policies and procedures already in place, a new owner can virtually take over an established business, streamlined with proven efficiencies and income.
Property Details
- Class
- B
- Year Built
- 1976
- Stories
- 2
- Lot Size (sq. ft)
- 163,786 SF
- Units
- 3
Highlights
- Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel.
- This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment.
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