AAA RATED 2 DIAMOND OCEANFRONT HOTEL (50 Units) for SALE by owner!!! SERIOUS CASH BUYERS ONLY!

Retail/Commercial offered at $5,995,000 Year Built 1966 Sq Footage 28,500 Floors 4 Parking Car garage Lot Size 36,074 sqft Maint $0 per month DESCRIPTION

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Waterfront hotel on Ocean Avenue, Appraised at $7.5 Mi w/ a 4 1/2 Hotel Star Rating!!! ADDRESS: (123 South Ocean Avenue West Palm Beach FL 33404) PROPERTY TYPE: 4-Story CBS Hotel on pilings with 50 guest rooms, Roof top restaurant, Swimming Pool, Sun Deck on Roof Level, 40 car parking on lower level (Plus, 15 Surface Paved Spaces), This property was originally built as a Best Western Hotel in 1966. SIZE: - 28,500 SQ FT. (0.65 Acres) - Total/Usable Size - 36,074 SQ FT. - Gross Building Area *Net Leasable Area : Lobbys, Halls, and Service Areas are deducted from the Gross Building Area. - Approved for Building (3) Additional floors. INTERIOR PROPERTY DESCRIPTION: - The 1st Floor has 14 Guest Rooms, while the 2nd and 3rd have 18 rooms each (Total of 50 ROOMS.) -15 Rooms have a Single KING bed, and 35 Rooms have Two DOUBLE Beds. - All of the rooms (excluding only 12) have a Private TERRACE or BALCONY. -The Reception Desk and Lobby, and Manager Office are all located on the 1st Floor of the Hotel. - The PENTHOUSE Level (4th Floor has a terrace, Kitchen, Lobby, (2) 3- Fixture Public Restrooms, (1) 2-Fixture Employee Restroom. - Floors have Carpet and Ceramic Tile, Flat Tar Gravel roof. Also, painted Gypsum interior walls, acoustical ceiling and sprinklered basement and corridors. ROAD FRONTAGE/ACCESS: - 116.23 Feet on Ocean Avenue, 87.89 Feet on Cascade Lane. ZONING: - Zoning Category "D". The subject improvements conform to the zoning. ADDITIONAL INFO: - The Hotel has a clear view and access of the Atlantic Ocean over the city land to the East, therefore, it will never be built upon. - This Hotel is located in an ACTIVE Tourist area adjacent and South of Singer Island (Which is improved with many Hi-Rise Condominium buildings, Restaurants, and Retail Facilities. - All utilities are Available. FLOOD ZONE: - Flood Zone X, Quad Area 26080 - G1, Flood Panel 1251370001D. PROPERTY FEATURES - AAA RATED 2 DIAMOND OCEANFRONT HOTEL - Roof Top Restaurant - 4 1/2 Star Hotel Ratings - 40 Car Parking Garage (Plus - 15 Surface Paved Spaces) - Swimming pool - Sun Deck on Roof Level - Full Staff - Private Terraces for most rooms - Reception Desk & Lobby, and Manager Office on the 1st floor. - Gross building area: 36,074 Sq. Ft. (Lobbys, Hall, and and Service Areas deducted) - 50 Guest Rooms LOCATION FEATURES - Clear Views and Access to Atlantic Ocean. - Located in an ACTIVE TOURIST Area. - Adjacent and South of Singer Island - Acess to all Recreation, Restaurants, and Retail. - Level and Even with the Fronting Streets. OTHER SPECIAL FEATURES - Central A/C - 12 Water Coolers on Roof. - Appraised at $7.5 million (As of Feb. 15th, 2012) - Good rating from Appraisal on Feb. 15th, 2012. - Penthouse Level (4th Floor) has a Terrace, Kitchen, Lobby, (2) 3-Fixture/ (1) 2- Fixture Restrooms. - Lobby Office Area With Internet Access.