29 units Multifamily convert into Motel at Jacksonville, Florida

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• Currently, 29 units are zoned for multifamily use and can be easily converted into a motel.
• These 29 units were previously zoned for use as a motel & making profitable property.
• PRIME LOCATION – Situated just minutes from Downtown Jacksonville, benefiting from major employment hubs, entertainment districts, and infrastructure improvements.
• VALUE-ADD UPSIDE – Immediate opportunities to enhance operational efficiencies, implement strategic renovations, and increase rental income.
• MINIMAL DEFERRED MAINTENANCE – Nearly $150,000 of capex has been completed on the property, focused on unit renovations and extensive exterior improvements.
• MAJOR DEVELOPMENT PIPELINE – The city’s $8 billion revitalization efforts are transforming the landscape of Downtown, delivering new apartments, retail, public parks, waterfront amenities, the University of Florida Graduate Campus which could have up to 20,000 students, and endless other demand drivers that will turn Jacksonville into a true 18 hour live/work/play city. Click for the 2024 State of Downtown Report.
• STABLE TENANCY – Well-maintained units with consistent occupancy, offering a blend of affordability and strong tenant retention
• Call Vip Commercial Team @ 407-453–3415 immediately for more information.