PROPERTY OVERVIEW

Unique Opportunity in a High Performing and High Barrier to Entry Market Positioned for Long Term Growth: The SpringHill Suites Vero Beach presents a rare opportunity for a buyer to acquire a high performing lodging asset in the supply-constrained Fort Pierce/Port St. Lucie Submarket. Sandwiched between the Space Coast and Palm Beach County, Vero Beach stands firmly in the “path of progress” as development densification continues to push northward up the coast from Boca Raton & West Palm Beach and southward from the Space Coast. This offering represents a distinctive opportunity to enter a growing market with substantial barriers to entry and a muted supply pipeline as of August 2024.

Strong Metrics with Additional Upside: The SpringHill Suites Vero Beach demonstrates impressive topline performance resulting in robust cash flows. In the Trailing Twelve Month Period ending in July 2024, the property achieved a $143 RevPAR, resulting in an NOI of $1,744,893. Additionally, there is a substantial potential for improvement post a change-of-ownership PIP and by way of developing 30-50 rooms on a parcel that is adjacent to the Hotel.

Strong Location Near Vero Beach’s Top Attractions: The SpringHill Suites Vero Beach is located in a densely developed residential, commercial, and golf corridor, within close proximity to Vero Beach’s top attractions as well as Florida’s major cities including Orlando (1.5 hours), Tampa (2.5 hours), and Miami (3 hours).  The Hotel is in close proximity to several Vero Beach demand drivers, including Grand Harbor Golf and Beach Club, The Cleveland Clinic Indian River Hospital, Vero Beach Regional Airport, Downtown Vero Beach, Jackie Robinson Training Complex, McKee Botanical Garden (12 minutes), the Indian River Mall (14 minutes), and the Vista Plantation Golf Club (14 minutes).

The hotel is being offered unencumbered of current management and any debt.