Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present to market the Barefoot Mailman Motel Portfolio, which consists of three properties located at 138 S Dixie Highway, 115 S Oak Street, and 209 S Lake Drive in Lantana, Florida. All three properties are currently operated as motels and short-term rental properties. The Barefoot Mailman Motel Portfolio is comprised of (18) Efficiencies, (8) Studios, (10) one-bedroom / one-bathroom units, and (1) two-bedroom / two-bathroom unit. The offering includes 8 separate buildings across 3 parcels, totaling 1.07 acres. Below is a breakdown of each building. 138 S Dixie Highway is a 22-room, one-story motel built in 1952 with concrete block construction, a flat roof, and mini-split AC units throughout. Each unit is equipped with either a full kitchen or a kitchenette and has hurricane impact windows. The motel rooms have had an average nightly rate of $115. The unit mix consists of (18) Efficiencies, (2) Studios, and (2) one-bedroom / one-bathroom units. 115 S Oak Street is a 10-unit, two-story, garden-style apartment building built in 1966 with concrete block construction. Each unit features a full kitchen or kitchenette and mini-split AC units. The property has 10 parking spaces, including one covered spot. The unit mix consists of (5) Studios and (5) one-bedroom / one-bathroom units. 209 S Lake Drive is a 5-unit, two-story apartment building built in 1925 with brick construction. Each unit is equipped with either central air conditioning or mini-split units, and all units feature a full kitchen. The unit mix consists of (1) Studio, (3) one-bedroom / one-bathroom units, and (1) two-bedroom / two-bathroom unit. This portfolio offers investors a rare opportunity to acquire 3 fully operational motels, all within 400 feet of one another, situated in a market with an extremely high barrier to entry for competition.