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The Floridian Hotel & Suites7531 CANADA AVE ORLANDO, FL 32819
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Non-EndorsementsMarcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") is not affiliated with, sponsored by, or endorsed by any commercial tenant or
lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or
endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is
solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has
been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References
to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &
Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may
deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and
cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as
intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers.
All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions
involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created
by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.
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INVESTMENT
OVERVIEW
The Floridian Hotel & Suites
OFFERING HIGHLIGHTS
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7531 Canada Ave. Orlando, FL 32819
Property Detail
Name of property The Floridian Hotel & Suites
Property Address 7531 Canada Ave. Orlando, FL 32819
Parcel Number 25-23-28-3853-00-110
Room Count 129
Lot Size (Acre) 2.38
Gross Leasable Area (SF) 52,603
Year Built 1999
Number of Buildings 1
Number of Stories 3
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Marcus and Millichap is pleased to present the Floridian Hotel & Suites. This 129-room, interior corridor, hotel has a lot size of 2.38 acres and is
conveniently located by International Drive, Orlando. The property features complimentary breakfast, free wireless internet service, an outdoor
pool, free shuttle service to theme parks, free vehicle parking, and vending machines.
The property is located in the International Drive submarket, which is home to Universal Orlando Resort, SeaWorld Orlando, Orlando
International Premium Outlets, and The Orange County Convention Center. Each of these demand drivers are easily accessible from the
property.
The property is within walking distance to all I-Drive’s amenities. These include Mango’s Tropical Café, I-Shops, I-Drive 360, Dave and Busters, BB
King’s Blues Club, Ripley’s Believe It or Not, Wonder Works, Orlando Improv Club, Pirate’s Cove Adventure Golf, and the SkyPlex Development.
Property Overview
▪ 129 Rooms.
▪ 2.38 Acre Lot.
▪ Completely Renovated Pool.
▪ Prime Location: Minutes to Disney World and all other parks.
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126
INVESTMENT HIGHLIGHTLocation
Situated off the intersection of I-Drive and Sand Lake Rd, the resort is central
to I-Drive 360 (Orlando Eye), Universal Orlando Resort, and Orlando Premium
Outlets. The property is less than ten minutes from SeaWorld, the Orange
County Convention Center, Pointe Orlando, I-Shops. Most of these attractions
are either within walking distance, or directly accessible by the I-Trolley, which
transports more than two million people along the I-Drive Corridor annually.
Hotel Features
The Floridian Hotel and Suites offers a number of modern amenities to ensure
that the standard room or hotel suite offers all the comforts of home. There is
complementary WiFi and continental breakfast, relatively little traffic in quiet
surroundings, and dozens of familiar restaurants nearby. In addition, guests of
the Floridian Hotel and Suites in Orlando have access to the property's
outdoor ADA accessible Pool, which includes a chairlift. Other amenities
include vending machines and complimentary coffee in the lobby.
Market Opportunity
This location presents an excellent opportunity for an investor. Located in the
heart of I-Drive and just a few minutes away from all major attractions, this
location presents a great value for potential upside.
Rooms
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ROOMS
AERIAL PHOTO
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REGIONAL MAP
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FINANCIAL
ANALYSIS
HOTEL HISTORICAL
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2017 2018 201908-2020
YTD
Room Count 129 129 129 129
Average Daily Rate $56.12 $63.16 $59.57 $56.48
Occupancy 89.4% 90.2% 87.00% 40.60%
RevPAR $50.19 $56.97 $51.84 $22.91
Room Revenue $2,381,538 $2,703,020 $2,794,529 $607,888
Other Revenue $6,808 $7,422 $5,940 $7,333
Gross Income $2,388,446 $2,710,442 $2,800,469 $615,221
Net Operating Income $916,676 $979,746 $839,690 $23,529
*Due to current circumstances regarding COVID-19, Pro Forma projections have been suspended until stabilization has occurred based on Broker’s discretion.
HOTEL HISTORICAL
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Departmentalized Expense Summary
Department 2017 % GR 2018 % GR 2019 % GR 09-2020 YTD % GR
Rooms $514,234 21.53% $607,647 22.42% $107,372 3.83% $25,232 4.10%
Food & Beverage $0 0.00% $0 0.00% $110,693 3.95% $29,697 4.83%
Other Operated Depts & Rentals $113,680 4.76% $231,187 8.53% $635,374 22.69% $108,140 17.58%
Administration & General $0 0.00% $0 0.00% $658,873 23.53% $188,025 30.56%
Marketing $235,152 9.85% $267,723 9.88% $66,731 2.38% $15,615 2.54%
Franchise Fees $0 0.00% $0 0.00% $0 0.00% $0 0.00%
Utility Costs $176,744 7.40% $122,832 4.53% $134,238 4.79% $74,336 12.08%
Property Operations & Maintenance $160,263 6.71% $184,365 6.80% $77,303 2.76% $68,878 11.20%
Property Taxes $73,150 3.06% $77,910 2.87% $83,314 2.97% $62,409 10.14%
Insurance $31,264 1.31% $49,301 1.82% $86,880 3.10% $19,361 3.15%
Lease Expense $0 0.00% $0 0.00% $0 0.00% $0 0.00%
Capital Replacement Reserve $95,534 4.00% $108,418 4.00% $0 0.00% $0 0.00%
Management Fee $71,650 3.00% $81,313 3.00% $0 0.00% $0 0.00%
Total Expenses $1,471,671 61.62% $1,730,696 63.85% $1,960,779 70.02% $591,692 96.18%
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MARKET
OVERVIEW
MARKET OVERVIEW
ORLANDOOVERVIEW
A warm climate and a favorable tax structure attract visitors, employers and
residents to the region. The metro is among the largest and fastest growing
in Florida, with a population of 2.5 million residents. It is also one of the
nation’s most popular tourist destinations with roughly 75 million visitors
annually. The Orlando metro encompasses four counties: Osceola, Orange,
Seminole and Lake, covering more than 4,000 square miles in central
Florida. There are numerous lakes scattered across the region and the
topography is generally flat with few impediments to development. Orlando
is the area’s largest city, approaching 285,000 residents, followed by
Kissimmee and Sanford, each with less than 100,000 residents.
MARKET OVERVIEW
METRO HIGHLIGHTS
ECONOMIC DIVERSITY
While Orlando’s economy has strong business and
professional services as well as tourism
components, distribution, high-tech, defense
contracting and healthcare also are prevalent.
PRO-BUSINESS ENVIRONMENT
Florida has low state and local taxes in addition to
no state personal income tax, attracting businesses
to the region.
JOB AND POPULATION GROWTH
Orlando’s population is expected to increase by
212,000 people over the next five years, as job
gains outpace the national average.
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MARKET OVERVIEW
ECONOMY▪ Key industries in the region include aerospace and defense systems, modeling, simulation
and training, digital media, tourism, and biotechnology.
▪ The metro is transforming into a digital media hub, housing hundreds of media companies.
▪ Orlando is a top vacation and business convention destination and is home to theme parks
and tourist attractions, which support retail sales and a large hospitality sector.
▪ The local life sciences, biotech and medical technology industries are growing. Lake Nona
Medical City is a 650-acre health and life sciences park located in the metro.
MAJOR AREA EMPLOYERS
Walt Disney World Co.
AdventHealth Orlando
Publix Super Markets Inc.
Universal Orlando
Orlando Health
Busch Entertainment Corp.
Lockheed Martin Corp.
Marriott International
Darden Restaurants Inc.
Starwood Hotels & Resorts Worldwide Inc. * Forecast
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SHARE OF 2019 TOTAL EMPLOYMENT
MANUFACTURING
4%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+OTHER SERVICES
3%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
18%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
19%
7%
10% 21% 6%
12%
MARKET OVERVIEW
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
▪ The metro is expected to add nearly 212,000 people over the next five years and
during this period roughly 83,200 households will be formed.
▪ A median age below the U.S. median contributes to a homeownership rate of 54
percent, which is slightly below the national rate.
▪ Millennials, those in the cohort of 20- to 34-year-olds, comprise 22 percent of the
population, slightly above the U.S. level of 21 percent.
Orlando residents enjoy a remarkable quality of life, highlighted by a sunny climate,
professional sports teams, outdoor recreational activities, cultural venues, world-
famous attractions and beaches nearby. The region offers healthcare facilities and
exceptional community services such as Orlando Regional Medical Center and
AdventHealth Orlando. Cultural opportunities are offered at the Dr. Phillips Center for
the Performing Arts, Orlando Repertory Theatre, the Opera Orlando, the Orlando
Ballet and the Bach Festival Society. Amway Center in downtown is the Orlando
Magic’s arena. Large educational institutions in the area include the University of
Central Florida and Valencia Community College.
QUALITY OF LIFE
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
2019 Population by Age
0-4 YEARS
6%5-19 YEARS
19%20-24 YEARS
7%25-44 YEARS
29%45-64 YEARS
25%65+ YEARS
15%
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37.3
2019MEDIAN AGE:
U.S. Median:
38.1
$55,700
2019 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$60,800
2.5M
2019POPULATION:
Growth2019-2024*:
8.4%
950K
2019HOUSEHOLDS:
8.8%
Growth2019-2024*:
PROPERTY NAME
MARKETING TEAMDEMOGRAPHICS
Source: © 2019 Experian
Created on October 2020
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2025 Projection
Total Population 6,778 36,255 120,395
▪ 2020 Estimate
Total Population 5,915 32,711 108,559
▪ 2010 Census
Total Population 3,962 24,165 82,519
▪ 2000 Census
Total Population 3,519 12,527 52,073
▪ Daytime Population
2020 Estimate 7,806 43,493 123,002
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2025 Projection
Total Households 3,131 11,913 42,523
▪ 2020 Estimate
Total Households 2,743 10,626 38,258
Average (Mean) Household Size 2.71 2.70 2.68
▪ 2010 Census
Total Households 1,814 7,392 28,192
▪ 2000 Census
Total Households 1,718 4,702 19,886
HOUSING UNITS 1 Miles 3 Miles 5 Miles
▪ Occupied Units
2025 Projection 3,131 11,913 42,523
2020 Estimate 5,042 20,846 55,528
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2020 Estimate
$200,000 or More 2.12% 5.12% 4.61%
$150,000 - $199,000 1.94% 3.18% 3.38%
$100,000 - $149,000 6.45% 11.13% 11.13%
$75,000 - $99,999 8.89% 10.25% 10.85%
$50,000 - $74,999 23.78% 21.94% 20.38%
$35,000 - $49,999 18.86% 16.62% 16.16%
$25,000 - $34,999 15.41% 11.98% 11.43%
$15,000 - $24,999 13.20% 11.25% 11.94%
Under $15,000 9.37% 8.53% 10.11%
Average Household Income $57,547 $77,038 $74,415
Median Household Income $44,265 $51,555 $50,371
Per Capita Income $26,686 $26,232 $27,125
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population 25+ by Education Level
2020 Estimate Population Age 25+ 4,332 20,440 69,710
Elementary (0-8) 3.05% 2.88% 2.83%
Some High School (9-11) 9.30% 6.68% 7.36%
High School Graduate (12) 29.75% 25.73% 26.13%
Some College (13-15) 21.32% 20.71% 21.21%
Associate Degree Only 10.41% 10.06% 10.10%
Bachelors Degree Only 14.52% 20.31% 20.17%
Graduate Degree 8.86% 11.58% 10.39%
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Income
In 2019, the median household income for your selected geography is
$44,265, compare this to the US average which is currently $62,990.
The median household income for your area has changed by 17.12%
since 2000. It is estimated that the median household income in your
area will be $48,974 five years from now, which represents a change
of 10.64% from the current year.
The current year per capita income in your area is $26,686, compare
this to the US average, which is $34,935. The current year average
household income in your area is $57,547, compare this to the US
average which is $90,941.
Population
In 2019, the population in your selected geography is 5,915. The
population has changed by 68.09% since 2000. It is estimated that the
population in your area will be 6,778.00 five years from now, which
represents a change of 14.59% from the current year. The current
population is 51.55% male and 48.45% female. The median age of the
population in your area is 38.09, compare this to the US average
which is 38.21. The population density in your area is 1,884.90 people
per square mile.
Households
There are currently 2,743 households in your selected geography. The
number of households has changed by 59.66% since 2000. It is
estimated that the number of households in your area will be 3,131
five years from now, which represents a change of 14.15% from the
current year. The average household size in your area is 2.71
persons.
Employment
In 2019, there are 3,913 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
56.94% of employees are employed in white-collar occupations in this
geography, and 44.47% are employed in blue-collar occupations. In
2019, unemployment in this area is 2.10%. In 2000, the average time
traveled to work was 29.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
72.00% White, 4.45% Black, 0.07% Native American and 5.20%
Asian/Pacific Islander. Compare these to US averages which are:
69.84% White, 12.88% Black, 0.20% Native American and 5.75%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 56.77% of the current year
population in your selected area. Compare this to the US average of
18.38%.
PROPERTY NAME
MARKETING TEAM
Housing
The median housing value in your area was $165,896 in 2019,
compare this to the US average of $221,068. In 2000, there were 996
owner occupied housing units in your area and there were 722 renter
occupied housing units in your area. The median rent at the time was
$736.
Source: © 2019 Experian
DEMOGRAPHICS
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THE MARCUS & MILLICHAP
ADVANTAGE
2,000MARCUS & MILLICHAP
PREMIER INVESTMENT SERVICES
Marcus & Millichap is the premier commercial real estate investment
services firm in the United States. Founded in 1971 on a unique model that
matches each property with the largest pool of pre-qualified investors, we
leverage four decades worth of experience and relationships to handle all
of your commercial real estate needs. Our team of more than 2,000
professionals in the U.S. and Canada focuses exclusively on real estate
investment sales, financing, research, and advisory services.
Founded in
1971 on a
unique
methodology
Largest pool of
pre-qualified
investors in
the industry
Moves capital
across our
network of
investment
professionals
More than 2,000
investment
professionals in
the U.S. and
Canada
WITH AN EXCLUSIVE FOCUS ONreal estate investment sales, financing, research, and advisory services
20
MARCUS & MILLICHAP ADVANTAGE
M O R E T H A N
MAXIMIZING RESULTS WITH 80+ OFFICESTHROUGHOUT THE U.S. AND CANADA
With our collaborative
culture, cutting-edge
technology, and proven
methodology, we
efficiently match buyers
and sellers both regionally
and nationally to maximize
your success.
MOVING CAPITAL, MAXIMIZING VALUE
21
MARCUS & MILLICHAP ADVANTAGE
22
BOR Info:Ryan Nee
Florida Broker of Record
License: FL BK3154667
Phone: 954.245.3400