The Days Inn Tropical Seas in Daytona Beach Shores, Fla., has been sold for $11.5 million in a deal brokered by Marcus Millichap.
The 75-room, seven-story oceanfront hotel was built in 1986 and includes slightly less than an acre of direct beach access. Robert Hunter, senior managing director investments, Marcus & Millichap, and Leo Reilly—investment specialist in the company's Fort Lauderdale office—exclusively marketed the property on behalf of the seller, which was an out-of-state family partnership. The team also procured the buyer, a private-party owner-operator with a local presence.
“At a time when there have been relatively few oceanfront hotel sales, the marketing process was a reminder of the existing demand for stable leisure hotels in Florida, particularly on the sand,” Hunter said in a statement. “The stability of the existing operation and consistency of revenue since COVID were critical in retaining value despite constraints from lingering adverse market conditions.”
Hotel amenities include an oceanfront pool and hot tub, business center, parking garage and select rooms with balconies or kitchens. Nearby demand drivers include Daytona International Speedway, Ocean Center, Daytona Beach International Airport, Embry-Riddle Aeronautical University and local retail and dining along Atlantic Avenue.