Sistrunk Shades: A Stellar First 8 Months of Operation
In the heart of Fort Lauderdale, Sistrunk Shades has carved a niche for itself as a top-tier vacation rental property. Since receiving our permits on August 13, 2023, our journey has been nothing short of spectacular. Here, we celebrate our success, illustrated with key performance metrics and testimonials from our guests.
Impressive Short Term Rental Financials
In the span of less than 8 months, Sistrunk Shades has amassed an impressive total gross income of $227,457.17, from which a net payout of $216,223.06 was realized after service fees. The detailed attention to providing top-notch accommodation is reflected in the substantial cleaning fees, which totaled $40,015, ensuring every guest experiences pristine living conditions.
As we approach the eight-month mark of our journey at Sistrunk Shades, we are thrilled to share the impressive strides we’ve made in establishing ourselves as a premier vacation rental destination in Fort Lauderdale. Our venture, detailed on our property listing on Crexi, not only highlights the growth and potential of our property but also positions Sistrunk Shades as a prime investment opportunity in a vibrant market.
A Quick Overview
Sistrunk Shades boasts five identical, modern townhomes, each featuring 3 bedrooms, 2.5 baths, and ample parking. Located in an opportunity zone, this property was part of a strategic development aimed at maximizing guest comfort and investment returns. This is reflected in our robust booking system that includes listings on Airbnb, VRBO, and direct bookings through our website.
Annualized Financial Performance
In just the first eight months, we’ve seen significant financial achievements:
- Total Revenue: Generated a striking $345,488.28 on an annualized basis.
- Net Operating Income (NOI): Reached $267,480.20 when annualized, showcasing strong profitability.
- Cap Rate: Achieved a remarkable 9.73% cap rate, demonstrating excellent potential for investors.
Graphical Insights
We’ve analyzed various aspects of our operations to provide deeper insights:
Occupancy Rates: Each unit has shown strong occupancy rates, with some months achieving over 90% occupancy.
Revenue Trends: Our units have consistently generated substantial revenue, reflecting their popularity and the high demand in Fort Lauderdale.
Strategic Location
Our location in Downtown Fort Lauderdale, within the Northwest-Progresso-Flagler Heights Community Redevelopment Area, places us at the heart of urban development and cultural vibrancy. This strategic positioning not only enhances the value of Sistrunk Shades but also aligns with broader economic growth initiatives in the area.
For Sale: A Unique Investment Short Term Rental Investment Opportunity
Sistrunk Shades is currently listed for sale at $2,750,000. This sale offers a unique opportunity to invest in a fully operational short-term rental business with a custom booking website and substantial existing bookings. Interested investors can find more details and inquire directly through our listing on Crexi. The property can be purchased as 5 individual units with Conventional or specifically DSCR Short Term Rental financing! Leveraging traditional financing as 5 separate standard loans allows this attractive investment to yield amazing cash on cash returns!
Analyzing Reservation Trends at Sistrunk Shades (August 2023 – August 2024)
Exploring the first year of operation, we delve into the reservation dynamics of Sistrunk Shades from its opening in August 2023 to the end of August 2024. This period captures the initial stages of business and highlights early trends and guest preferences.
Key Trends Observed:
- Rapid Establishment:
- Within the first year, Unit #2 shows remarkable consistency in attracting guests, with notable peaks in April and June 2024. This suggests quick popularity, possibly due to its features or marketing efforts.
- Seasonal Influence:
- The summer months, particularly July and August 2024, see increased bookings across most units, with Unit #4 and Unit #2 leading. This could reflect seasonal travel trends and the appeal of the property during warmer months.
- Initial Variability:
- The earlier months, such as September and October 2023, show variability across units. This could be due to initial marketing efforts taking time to resonate or guests exploring different options within the property.
- Sustained Interest:
- Unit #4 exhibits sustained interest over several months, suggesting that it might have amenities or pricing that appeal to a broad range of guests. This unit could serve as a model for future enhancements in other units.
- Preparations for High Seasons:
- The increase in bookings leading into the summer of 2024 suggests effective preparation for high seasons, possibly through targeted promotions or seasonal packages.
Exploring Investment Potential at Sistrunk Shades through Q1 2024 Performance Metrics (January – March 2024)
As Sistrunk Shades continues to mature into a notable vacation rental property, recent data from January to March 2024 underscores its growing appeal and potential as an investment opportunity. Here we’ll delve into key statistics that highlight why this property stands out for investors focused on revenue generation.
Key Performance Indicators January – March 2024
- Impressive Revenue Growth:
- Total Revenue: For the first quarter of 2024, Sistrunk Shades generated an impressive $103,591 in revenue, marking a 79.86% increase compared to the previous period. This significant leap in revenue demonstrates robust demand and effective pricing strategies, indicating a strong return on investment potential.
- Optimized Pricing:
- Average Nightly Rate: The average nightly rate stood at $297.48, up by 11.37% from the prior period. The ability to increase rates while still growing occupancy is a strong indicator of a premium offering and market acceptance.
- Booking Dynamics:
- Average Length of Stay: Guests stayed an average of 3.8 days, which is up by 15.85% compared to the previous quarter, indicating that the property not only attracts visitors but also retains them longer, maximizing revenue per booking.
- Booking Lead Time: A lead time of 36.7 days, up by a significant 76.79%, suggests that guests are planning their stays well in advance, providing predictable cash flow and opportunities for strategic pricing adjustments.
- Platform Diversification:
- The data shows that reservations came through various platforms, including Airbnb, Booking.com, and Vrbo, as well as direct bookings from the website. This diversification reduces dependence on any single channel and mitigates risks related to platform-specific changes or issues.
The data from Sistrunk Shades presents a compelling case for investment. The combination of high and growing revenue, strong occupancy rates, and effective pricing strategies showcases the property’s capability to generate substantial and stable income. Additionally, the forward-looking booking trends and multi-platform presence enhance its resilience and attractiveness as a lucrative investment in the competitive vacation rental market.
Conclusion: Vacation Rental Success
As we reflect on the first eight months of operation, the success of Sistrunk Shades is a testament to our commitment to excellence and strategic planning. Our continued efforts to enhance guest experiences and operational efficiency, coupled with our prime location and strong financial performance, make Sistrunk Shades not just a property, but a promising investment into the future of vacation rentals in Fort Lauderdale.
For more information or to schedule a visit, please contact our team at Miami Real Estate Agency LLC or visit our website.
