The Blarney Castle Motel near the southern entrance to Fort Lauderdale’s beachfront area sold for $3 million, part of a recent flurry of similar transactions.
Rustle Investment LLC in Hallandale Beach bought the 20-room motel for $180,000 per room, a price that reflects the property’s premium address, 3086 Harbor Drive.
The seller is GHJ LLC. The 65-year-old motel last changed hands in a $2.41 million sale in May 2015.
Other small lodging properties near Fort Lauderdale’s beach have been sold this year, too.
Another motel on Harbor Drive was sold last month: The new owner of the 40-room Sea Beach Plaza at 3081 Harbor Drive paid $5.75 million for the property.
In February, the 23-room Drift Hotel at 3005-07 Alhambra Street sold for $3.3 million, and a company linked to a Swedish developer named Par Sanda sold the redevelopment sites of three 1950s-vintage motels on Bayshore Drive. [Sun-Sentinel] — Mike Seemuth