Daytona Beach, FL 32118,600 N ATLANTIC AVE
Daytona Beach, FL 32118,600 N ATLANTIC AVE
Daytona Beach, FL 32118,600 N ATLANTIC AVE
79
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$95,000,000
Est. payment /mo
222,152 SqFt
New

600 N ATLANTIC AVE Daytona Beach, FL 32118

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Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 222,152 sqft

Price per Sqft $427

Subdivision Brush & Stewarts Resub

MLS Listing ID O6326499

HOA Y/N No

Year Built 1969

Annual Tax Amount $29,861

Lot Size 2.960 Acres

Acres 2.96

Property Sub-Type Hotel/Motel

Source Stellar MLS

Property Description

The Plaza Resort & Spa established its first presence in Daytona Beach since 1888. It is Daytona Beach's oldest continuously operating beachfront luxury hotel, dating back to 1911. More recently, it had been operating as a luxury condo-hotel before it was closed for repairs due to damages caused by Hurricane Ian. The current building was built in 1969 and is currently going through a major overhaul renovation. Since acquisition in 2020, the owner has put in tremendous amount of money and resources to gut the whole building. The ARV could go well above $100m after its full completion. The owner is currently considering taking in up to $25m in the form of either debt or partial equity to continue the project but may also reluctantly part with this trophy project on an “as-is” basis at the right price.

The hotel tower has 14 stories with interior corridors of 776,790 sqft. The building class is B with a parking ratio 0.26/1,000 sqft. The lot size is 5.29 acres. The APN is 5304-09-06-0010 and the zoning is BR-1, Business Retail, that covers most business uses. There are 323 large guestrooms of which 22 are suites with additional amenities and private balconies, providing stunning views of both Daytona Beach and the Atlantic Ocean. Two of these are honeymoon suites. There are also outdoor swimming pool, gym, spa, poolside bar, restaurants and coffee shops, covered garages, and plenty of convention and meeting space. Among the various renovation plans, the 3-acre plus banquet hall area may be totally separated from the main hotel building to build another stand-alone new condo tower.

Location

State FL

County Volusia

Community Brush & Stewarts Resub

Area 32118 - Daytona Beach/Holly Hill

Zoning 02T1

Interior

Cooling Zoned

Exterior

Waterfront Description Beach Front

View Y/N Yes

Water Access Yes

Water Access Desc Beach

Building

Foundation Basement

Lot Size Range 2 to less than 5

Structure Type Concrete

New Construction false

Others

Ownership Corporation

Acceptable Financing Cash, Owner Financing, Private Financing Available, Special Funding

Listing Terms Cash, Owner Financing, Private Financing Available, Special Funding

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6326499


Stellar MLS
Listed by INVESTORSALLY, LLC.

Learn More About LPT Realty

agent

Ericka & Greg Stephens

REALTOR® | License ID: SL 3045585

+1(407) 468-0510

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600 N ATLANTIC AVE