Daytona Beach, Florida, is an attractive location for investors looking to purchase hotels, with its rich history in motorsports and tourism industry drawing large numbers of visitors each year. Hotels in Daytona Beach offer a unique investment opportunity, providing a chance to capitalize on the city's popularity among tourists and locals alike. As a hub for motorsports, Daytona Beach is home to the headquarters of NASCAR and hosts several major events, including the Daytona 500 and the 24 Hours of Daytona endurance race. The city's 23 miles of public beaches, waterfront parks, and golf courses also make it an ideal destination for travelers. With a strong presence of educational institutions like Bethune–Cookman University, Daytona State College, Embry–Riddle Aeronautical University, and the University of Central Florida, Daytona Beach Campus, the city offers a diverse range of amenities and attractions. Additionally, the city's infrastructure, including Halifax Health for healthcare services and Florida Power & Light for electric power, provides a solid foundation for businesses to thrive. With its unique blend of tourism, motorsports, and education, Daytona Beach is an excellent location for hotel investors. The city's attractions, such as the Daytona International Speedway and the Beach Street district, make it an ideal destination for travelers, and its strong economy and infrastructure make it an attractive location for businesses.
Currently, there are 5 hotels for sale in Daytona Beach, offering a range of investment opportunities. The average price per square foot for hotels in Daytona Beach is $263 USD, with an average size of 27,336 square feet. The largest hotel for sale in the area is 72,530 square feet. In addition to hotels, Daytona Beach also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. For example, restaurants in Daytona Beach can capitalize on the city's tourism industry, with many visitors drawn to the area's unique dining experiences. Apartment buildings in Daytona Beach offer a chance to invest in the city's growing residential market, with many students and professionals drawn to the area's educational institutions and job opportunities. Shopping centers in Daytona Beach provide a range of retail spaces, from small boutiques to large department stores, catering to the city's diverse population. With its strong economy and diverse range of investment opportunities, Daytona Beach is an excellent location for investors looking to purchase hotels or other commercial properties.
What factors should I consider when buying a hotel in Daytona Beach?
When considering buying a hotel in Daytona Beach, there are several key factors to take into account, including:
- The local tourism industry, which is a significant driver of the city's economy, with events like Speedweeks, Bike Week, and Biketoberfest attracting large numbers of visitors, and institutions like Bethune–Cookman University, Daytona State College, Embry–Riddle Aeronautical University, and the University of Central Florida, Daytona Beach Campus contributing to the area's cultural fabric.
- The city's infrastructure, including major transportation facilities like Daytona Beach International Airport (DAB) and the Greyhound Bus Lines terminal, as well as roads like I-95, I-4, US 1, and US 92, which provide easy access to the city and its attractions.
- The current market conditions, with 5 available listings of hotels, an average price per square foot of $263 USD, and an average size of 27,336 square feet, as well as an average cap rate of 10.36%, which can help inform your investment decision.
It's also essential to research and understand the local regulations and zoning laws, as well as the competitive landscape of the hotel industry in Daytona Beach. Additionally, considering financing options, such as CRE loans, can help make your investment more feasible. For more information on commercial real estate loans, check out our article at CRE loans.
How is the value of a hotel for sale typically calculated?
In Daytona Beach, where there are currently 5 hotels for sale, the value of a hotel is typically calculated through a comprehensive CRE appraisal, which takes into account factors such as the property's income, expenses, and local market conditions. To learn more about the CRE appraisal process and how it affects the value of a hotel for sale, check out our article at CRE appraisals, which provides an in-depth look at this critical step in commercial real estate investing.
