2502 Tamarind Dr - Seahorse Beach Bungalows Hotel - Hospitality
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Seahorse Beach Bungalows | 17-Key Boutique Hotel Steps from the Beach
SEAHORSE BEACH BUNGALOWS — TURNKEY 17-KEY BOUTIQUE HOTEL | REAL ESTATE INCLUDED
Fort Pierce, FL | $4,999,999 | $294,118/Key | 8.34% Going-In Cap Rate
BUSINESS OVERVIEW
Fully renovated 17-key boutique hotel with real estate, one block from the Atlantic Ocean on the same barrier island as Disney's Vero Beach Resort, Costa d'Este, and Kimpton Vero Beach — at entry-tier pricing. A $1.5M renovation (2023–2025) delivers zero PIP exposure. New owner steps in day one with warranty-fresh systems, an active Certificate of Use, and a cash-flowing asset. Property operates rooms-only today — twelve ancillary revenue streams are completely untapped.
IN-PLACE FINANCIALS (T-12: Aug 2025–Jul 2026)
Revenue $551,297 | NOI $416,774 | Cap 8.34% | Occupancy 49.6% | ADR $179.11 | RevPAR $88.85 | Expense Ratio 24.4%. Jan–Mar 2026: $212,906 revenue / 71.3% occupancy / $195.15 ADR. History: 2023 $228,773 rev / $151,629 NOI. 2024 renovation year $178,551 / $84,657. 2025 transition (12→17 keys) $467,596 / $358,369. YTD Jan–Jul 2026: $354,848 / $264,987.
THREE SCENARIOS — FULLY LOADED
All columns include post-sale tax reassessment, FF&E reserve, and 7–10% buyer normalization reserve.
In-Place: $551,297 rev / $416,774 NOI / 8.34% cap.
Base Case (rate recovery + ancillary): $903,335 rev / $513,791 NOI / 10.28% cap.
Upside Case: $1,117,528 rev / $688,956 NOI / 13.78% cap.
PROPERTY
0.435± acres | 5,034 SF | Two masonry buildings (1925 + 2007) | 17 Keys: 2 Queen, 10 Queen+Kitchenette, 5 Double-Queen Suites. 15/17 rooms ADA accessible. Walnut kitchenettes + quartz counters in 15/17 units. New HVAC mini-splits all 17 units. New metal roof 2024. HIRD lodging zoning. FLOOD ZONE X — no mandated flood insurance. Total insurance ~$22,000/yr. Pool, spa, cabana and fire pit architectural plans convey. Expansion to 20–22 keys site-supported.
12 UNTAPPED REVENUE STREAMS — BASE +$248,087
Events $72K | Resort Fee $64K | Retreats $24K | F&B $15K | Meetings $14K | Gear Rentals $11K | Pet + Late/Early Fees $19K | Parking/EV $9K | Vending $8K | Spa $7K | Other $5K. Upside total: $397,748.
COMPARABLE SALES (Coastal Boutique, Per Key)
Grandview Gardens, West Palm Beach: $625K (2025). Vista Lago, Fort Pierce A1A: $492K (2026). Jensen Beach Inn: $433K (2026). Tier avg $516K/key. Seahorse: $294K/key — 43% below midpoint, priced below replacement cost.
LOCATION AND MACRO TAILWINDS
1 block from Atlantic Ocean. Fort Pierce Inlet State Park 0.7 mi. Treasure Coast Airport 7 mi — commercial service launching 2026. North Causeway Bridge replacement underway (
Fort Pierce, FL | $4,999,999 | $294,118/Key | 8.34% Going-In Cap Rate
BUSINESS OVERVIEW
Fully renovated 17-key boutique hotel with real estate, one block from the Atlantic Ocean on the same barrier island as Disney's Vero Beach Resort, Costa d'Este, and Kimpton Vero Beach — at entry-tier pricing. A $1.5M renovation (2023–2025) delivers zero PIP exposure. New owner steps in day one with warranty-fresh systems, an active Certificate of Use, and a cash-flowing asset. Property operates rooms-only today — twelve ancillary revenue streams are completely untapped.
IN-PLACE FINANCIALS (T-12: Aug 2025–Jul 2026)
Revenue $551,297 | NOI $416,774 | Cap 8.34% | Occupancy 49.6% | ADR $179.11 | RevPAR $88.85 | Expense Ratio 24.4%. Jan–Mar 2026: $212,906 revenue / 71.3% occupancy / $195.15 ADR. History: 2023 $228,773 rev / $151,629 NOI. 2024 renovation year $178,551 / $84,657. 2025 transition (12→17 keys) $467,596 / $358,369. YTD Jan–Jul 2026: $354,848 / $264,987.
THREE SCENARIOS — FULLY LOADED
All columns include post-sale tax reassessment, FF&E reserve, and 7–10% buyer normalization reserve.
In-Place: $551,297 rev / $416,774 NOI / 8.34% cap.
Base Case (rate recovery + ancillary): $903,335 rev / $513,791 NOI / 10.28% cap.
Upside Case: $1,117,528 rev / $688,956 NOI / 13.78% cap.
PROPERTY
0.435± acres | 5,034 SF | Two masonry buildings (1925 + 2007) | 17 Keys: 2 Queen, 10 Queen+Kitchenette, 5 Double-Queen Suites. 15/17 rooms ADA accessible. Walnut kitchenettes + quartz counters in 15/17 units. New HVAC mini-splits all 17 units. New metal roof 2024. HIRD lodging zoning. FLOOD ZONE X — no mandated flood insurance. Total insurance ~$22,000/yr. Pool, spa, cabana and fire pit architectural plans convey. Expansion to 20–22 keys site-supported.
12 UNTAPPED REVENUE STREAMS — BASE +$248,087
Events $72K | Resort Fee $64K | Retreats $24K | F&B $15K | Meetings $14K | Gear Rentals $11K | Pet + Late/Early Fees $19K | Parking/EV $9K | Vending $8K | Spa $7K | Other $5K. Upside total: $397,748.
COMPARABLE SALES (Coastal Boutique, Per Key)
Grandview Gardens, West Palm Beach: $625K (2025). Vista Lago, Fort Pierce A1A: $492K (2026). Jensen Beach Inn: $433K (2026). Tier avg $516K/key. Seahorse: $294K/key — 43% below midpoint, priced below replacement cost.
LOCATION AND MACRO TAILWINDS
1 block from Atlantic Ocean. Fort Pierce Inlet State Park 0.7 mi. Treasure Coast Airport 7 mi — commercial service launching 2026. North Causeway Bridge replacement underway (
Detailed Information
- Years in Operation
- 14
- Facilities & Assets
- Turnkey 17-key boutique hotel comprising 5,034 SF across two buildings (1925 & 2007) on ~0.435 acres, located 1 block from beach access on North Hutchinson Island, FL. FEMA Flood Zone X with HIRD zoning and active Certificate of Use.
Recent $1.5M Renovation (2023–2025):
New mini-split HVAC systems throughout all 17 rooms
New metal roof on the 1925 building
Fully updated flooring, bathrooms, lighting, and millwork
Custom FF&E included
Kitchenettes in 15/17 rooms featuring walnut cabinetry & quartz counters
Room Mix:
2 Queen Guest Rooms
10 Queen Rooms with Kitchenettes
5 Double-Queen Suites
15 of 17 rooms are ADA accessible
Conveying Assets:
Architectural plans for resort pool, spa, cabana, sauna, fire pit, and landscape upgrades
Potential expansion to 20–22 keys (subject to buyer diligence and permitting)
About the Sale
- Transition Support
- Transition support will be provided to ensure a seamless operational takeover. Comprehensive financial workbooks, rate schedules, and architectural plans are available for review upon request.
Listing Info
- ID
- 2514863
- Listing Views
- 447
Listing ID: 2514863 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
