Remarks

Located approximately 2 miles from Gulf of Mexico beaches Addy’s Villas is a prospering vacation rental business.

Nokomis is a charming coastal community situated on the Gulf of Mexico, offering easy access to beautiful beaches, boating opportunities, and a variety of restaurants.

For those interested in boating, Nokomis offers access to the Intracoastal Waterway, allowing visitors to explore the picturesque water channels, go fishing, or embark on boating excursions. The nearby Dona Bay and Roberts Bay also provide excellent opportunities for kayaking and paddleboarding.

Many use options including: commercial, mixed use, office, multi-family, storage, vehicle/RV condos, and current use as vacation rentals with ability to expand number of units.

Trip Advisor ratings are 5.0 with many reviews. Strong positive reviews on other websites too.

Local area includes a wide variety of restaurants, Venice Island shopping, golf courses, boating opportunities, fishing, 2 state parks, The Legacy Trail for hiking and biking, Venice Little Theatre, plus much more.

Property includes:

10 Villas, 2 Cottages, 1 Studio, 3 Efficiencies, workshop and 4 Bedroom 2.5 Bath owner’s quarters.

Amenities include:

Heated swimming pool, picnic/grilling area, laundry (free to guests), free wi-fi, cable tv, and free parking. Efficiencies have kitchenettes and all other accommodations have full kitchens, ideal for vacation rental/ air bnb marketplace.

Property is being sold at a capitalization rate of 6 with the owners 2,026 square foot, 4 bedroom, 2.5 bathroom, 2 stall garage home not currently being rented (not included in cap rate). One unit is rented annually at a below market rate; the on-site manager unit is not being rented. There are strong 2023 advance bookings!

The property also has a potential to be modified to include additional units as per the Nokomis Revitalization Plan.

Units are licensed as hotel/motel and as condominiums, so selling units individually is also an option.

Huge growth in area, repeat clientele, great upside potential and diverse operational opportunities. Property is located outside of the 500 year flood zone. See property website for additional photos and information.

We have a full team of professionals familiar with the property and willing to discuss option and modification possibilities. Owner financing at below market rate possible with 1/3 down.

Details

MLS#: A4563540
Price: $4,350,000

Style: Hotel/Motel
Sq Ft: 684
Year Built: 1953

County: Sarasota
Subdivision: ADDYS NOKOMIS VILLAS
Lot Size: 200x549x167x589
Tax Fee: 20569