4050 Ferdon Boulevard, Crestview, FL 32536

Property Description

Bank-Owned Hotel & RV Travel Park PRICED TO SELL RAPIDLY! This property offers excellent redevelopment potential in central Okaloosa County, Florida, which is experiencing robust growth due to the influx of numerous military personnel and their families. Located on the west side of Highway 85 (South Ferdon Blvd.) approximately one-quarter mile South from Interstate 10, this site is excellently positioned to service the 7th Special Forces Group and Duke Field. The parcel?s size and accessibility allow for substantially reduced development costs and increased density and intensity of potential usage. With C-1 commercial zoning, an enterprising buyer will have a great opportunity for return on their investment, especially at this price. The immediate area is comprised of restaurants, motels, big box retail stores, and numerous smaller businesses. The site is in close proximity to a public hospital and major medical facilities. Nearby recreational opportunities include golfing and numerous outdoor activities at Blackwater State Park. The site is within 30 minutes of easy driving distance to the beautiful beaches of the Gulf of Mexico. The listing price includes two parcels; Parcel A features a Rodeway Inn with (118) guestrooms, 2,028 SF of meeting space, an outdoor pool, restaurant, and nightclub/bar. A total of six buildings comprise 52,710 SF of heated/cooled space. The site formerly housed a Holiday Inn. The sales price includes franchise rights to the Rodeway Inn, or the buyer may opt to redevelop the parcel. Conceptual site plan illustrations reveal the outparceling potential and subdividing that yields land mass to accommodate another (150) room hotel! Parcel B consists of a travel park with (35) RV hookups and a small guest bathroom/shower building. It includes (125) water and sewer taps, perhaps that could be used to redevelop into multi-family apartments. The property is easily accessed from both northbound and southbound traffic via a double curb cut and a median crossover on Highway 85. It includes extensive parking and a paved access road to Parcel B. The property is located in Flood Zone ?X.? Please click the main image to view additional images, as well as the offering memorandum. ?10.5 Acres (Parcels; A & B) Parcel A Okaloosa County Parcel ID#: 32-3N-23-0000-0042-0000; (118) Rooms; ?5.53 acres; 400?x600?; 400? of Hwy. frontage; (2) median cuts; (1) median crossover; Pool; Bar, Lounge, & Restaurant; Total Heated/Cooled Square Footage = ? 52,710 sf; Outparcelling Potential Parcel B Okaloosa County Parcel ID#: 32-3N-23-0000-0042-0030;RV Travel Park; ?4.98 acres; 425?x500?; (125) Water & Sewer Taps 2011 Taxes (parcels A & B): $30,931.00