Casitas Coral Ridge
2640 & 2648 NE 32nd St, Fort Lauderdale, FL 33306
INVESTMENT HIGHLIGHTS
The Opportunity
Ashland Auction Group is pleased to present Casitas Coral Ridge, a 16-unit garden-style boutique hotel located in the prestigious Coral Ridge neighborhood of East Fort Lauderdale. Situated on a ±0.45-acre parcel with RMM-25 zoning, this property offers a rare combination of immediate cash flow and significant future redevelopment potential.
Currently operating as a fully licensed transient lodging facility, the property benefits from high barriers to entry in one of South Florida's most desirable coastal markets.
Investment Highlights
- Turnkey Operation: Active hotel license & strong occupancy history.
- Prime Location: 0.2 miles to Coral Ridge Mall, 0.9 miles to Beach.
- Zoning Upside: RMM-25 allows for medium-high density residential or tourism uses.
- Large Footprint: Over 20,000 SF of land with 200' frontage.
Property At A Glance
Site Specifications
| Address | 2640-2648 NE 32nd St |
| City, State, Zip | Fort Lauderdale, FL 33306 |
| County | Broward County |
| Parcel ID (Folio) | 4942-24-01-0240 |
| Land Area | ±0.45 Acres (20,004 SF) |
| Zoning | RMM-25 |
| Frontage | 200 Feet on NE 32nd St |
| Parking | 17 Surface Spaces |
Building Information
| Number of Buildings | 2 |
| Stories | 1 (Single Story) |
| Construction | CBS / Stucco |
| Roof | Pitched / Tile (Verify) |
| Total Building Area | ±6,726 SF |
| Hotel License | MOT1603176 (Active) |
Site boundary is approximate and for illustrative purposes only.
Originally constructed as (8) large 2-bedroom / 2-bathroom apartments, the property has been successfully repurposed into a high-yield hospitality layout consisting of 16 individual keys.
Current Configuration
The unit mix is split between two buildings (2640 Building & 2648 Building):
| Unit Type | Count | Description |
|---|---|---|
| Guest Suites | 6 | 1 Bedroom / 1 Bathroom with private Kitchenette. Ideal for extended stays. |
| Standard Rooms | 10* | Standard hotel-style room with 1 Bedroom / 1 Bathroom. |
| TOTAL | 16 | Fully Licensed Units |
*Operational Note: One "Standard Room" unit is currently utilized as an on-site administrative office/reception but remains included in the licensed unit count.
Interior Accommodations
Strategic Location
The property is located in the heart of East Fort Lauderdale, bridging the gap between the quiet residential streets of Coral Ridge and the vibrant commercial corridors of US-1 and Oakland Park Blvd.
Nearby Points of Interest
| Coral Ridge Mall (Target/Publix) | 0.1 mi |
| Coral Ridge Country Club | 0.3 mi |
| Mai Kai Restaurant | 0.5 mi |
| Fort Lauderdale Beach | 0.9 mi |
| Galleria at Fort Lauderdale | 2.2 mi |
Transportation Access
| US-1 (Federal Hwy) | 2 mins |
| Tri-Rail (Cypress Creek) | 10 mins |
| FLL Int'l Airport | 15 mins |
| Port Everglades | 20 mins |
| Miami Int'l Airport | 45 mins |
Trailing 12-Month P&L (Oct 2024 - Oct 2025)
The following financials reflect the operational performance on a Cash Basis for the period ending October 31, 2025.
| Category | Amount |
|---|---|
| Gross Revenue & Rentals | $620,953.64 |
| Less: County & State Bed Taxes | ($61,411.80) |
| TOTAL EFFECTIVE INCOME | $559,541.84 |
| OPERATING EXPENSES | |
| Payroll Expenses | $72,446.02 |
| Property Taxes | $53,000.00 |
| Utilities (Electric, Gas, Water) | $41,035.80 |
| Commissions | $27,848.08 |
| Insurance (Liability) | $13,737.84 |
| Repairs, Maintenance, Misc | $31,052.72 |
| TOTAL EXPENSES | $239,120.46 |
| NET OPERATING INCOME (NOI) | $320,421.38 |
*Net Income includes $1.05 in Other Interest Income not listed in operations above.
**Source: Seller provided P&L Statement (Cash Basis).
CONTACT FOR AUCTION DETAILS
Adam Shpritz | Broker & Auctioneer
410-488-3124
www.AshlandAuction.com