The Palms On Ocean & FoodMart - 16-room motel 831 N Ocean Blvd Services hôteliers 16 chambres 3 759 007 € (234 938 €/Chambre) Taux de capitalisation 6,97 % Pompano Beach, FL 33062

Marcus & Millichap, as exclusive listing agent is pleased to offer for sale The Palms on Ocean (herein referred to as “The Property”), a 16-room hotel and fully operating Food Mart situated directly on North Ocean Boulevard, directly across the street from the ocean and in the highly desirable Hillsboro Shores submarket of South Florida.
This exceptional investment property offers a rare opportunity to own a profitable motel with multiple income streams in the heart of Pompano Beach. Built in 1954, the two-story hotel features 16 well-maintained guest rooms that consistently attract vacationers seeking a relaxing getaway steps from the Atlantic shoreline. The motel also includes an on-site Food Mart, providing additional revenue through the sale of snacks, drinks, and beach essentials. With a well-maintained pool area offering guests a serene retreat, this property presents strong earning potential for investors seeking to expand their portfolio.
The property sits on nearly 0.3 acres of land, offering ample space for future enhancements or potential redevelopment. Significant upgrades have been completed, including a new flat roof installed in 2018, resurfaced parking lot, and the addition of impact windows and efficient mini-split air-conditioning systems in approximately one-third of the units. Approximately 50 percent of the guest rooms have been renovated, with new kitchens, bathrooms, and flooring, enhancing guest comfort and improving occupancy rates. The property has been owner-occupied and operated since 1990, reflecting a stable and well-managed operation with a strong customer base.
Strategically located directly across from Pompano Beach, this motel is positioned to capitalize on South Florida’s thriving tourism industry. The vibrant Hillsboro Shores corridor offers an abundance of dining, shopping, and entertainment options, drawing visitors year-round. Notable nearby attractions include the bustling Pompano Beach Pier, the historic Hillsboro Inlet Lighthouse, Pompano Community Park with its variety of sports and recreational facilities, and the popular Pompano Beach Amphitheater, which hosts concerts and events that bring in consistent foot traffic. The surrounding area has also seen significant development, including new luxury condominiums (CasaMar, Solemar & Waldorf Astoria Residences), upscale dining establishments, and improved beachfront amenities, further boosting the area’s appeal to tourists and investors alike.
In addition to its prime location, recent renovations, and multiple revenue streams, this property offers attractive seller financing terms with 50 percent loan-to-value (LTV) and 5.5 percent interest-only, monthly payments for five years, creating an enticing opportunity for investors seeking flexible financing solutions.
With its coastal charm, ample growth potential, and appealing financial terms, this property is an ideal addition to a diversified real estate portfolio.