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Sale Closes for Planned Flagler Beach Resort Hotel Property

This is just one of several local high-dollar commercial property sales in the last three months.

By Toby Tobin

PALM COAST, FL – July 31, 2021 – Although some questioned the veracity of the story of a new hotel in the heart of Flagler Beach when it was revealed in December, the property sale has closed. The seller was Geraldine Charles LLC, an entity that lists long-term Flagler Beach residents Zoee and William Forehand as Managers. The buyer is Sun Partners LLC of 45 Seton Trail, Ormond Beach. The transaction closed on July 22 for $3,850,000.

Recently registered Sun Partners listed Manoj Bhoola as Manager. Bhoola is also President of Elite Hospitality of the same address. Elite Hospitality’s website list of the company’s property portfolio includes:

Daytona Beach Area

  • Best Western International Speedway Hotel
  • Best Western Castillo Del Sol
  • Hilton Garden Inn Daytona Beach Airport
  • Hampton Inn Daytona Speedway Airport

St Augustine Beach

  • Courtyard by Marriott
  • Castillo Real Ascend Hotel Collection
  • Hilton Garden Inn
  • Hampton Inn

Jacksonville

  • Margaritaville Beach Hotel
  • Landshark Bar & Grill
  • Hampton Inn & Suites Jacksonville Airport
  • Hilton Garden Inn Jacksonville Airport
  • Holiday Inn Express & Suites Jacksonville Airport

RENDERING OF THE PROPOSED FLAGLER BEACH RESORT HOTEL - December 2020 (looking southwest)

Flagler Beach Resort Rendering

In the past three months, several other Flagler County commercial property transactions have exceeded $1M.

Marvin’s Garden Inc. sold the Moody Blvd. commercial business center known as Marven’s Garden to Marvins Garden LLC for $6,475,000. The transaction closed on June 3.

Flagler by the Sea, Inc. sold the mobile home/RV park located at 2982 N Ocean shore Blvd to Treasure by the Sea MHC LLC for $6,100,000. The transaction closed on July 16.

The City of Palm Coast closed May 3 on 135 acres in Palm Coast Park. The property is on the west side of US Route 1 and south of Matanzas Woods Pkwy and is planned to be used for athletic fields. The seller was Byrndog PCP LLC, of Palm Coast. The transaction was valued at $5,459,690.

On June 24, Superwash Express Palm Coast, Inc sold the carwash located at 110 Cypress Point Pkwy to National Retail Properties LP for $5,000,000.

June 2, Ridge Development Group LLC sold several lots in Plantation Reserve Estates to Volusia Residential Construction LLC (ICI Homes). The transaction was valued at $5,000,000.

Holiday Builders Inc bought 39 lots in Sawmill Creek phase I from Palm Coast Florida Holdings LLC. The transaction, valued at $2,145,000, closed on May 21.

Adams Homes of Northwest Florida Inc bought 37 lots in Sawmill Creek phase I from Palm Coast Florida Holdings LC. That transaction closed on May 27 and was valued at $2,035,000.

GW Development LLC, of Jacksonville, sold the commercial building at 460 Palm Coast Pkwy SW to Davie Road Downtown LLC, of Flagler Beach, for $2,000,000. The transaction closed on May 27.

RJN Design & Development, of Ormond Beach, sold the 48.83-acre parcel 04-13-31-0650-000B0-0011, on Old Dixie Hwy, to Pinchas Mamane, of Daytona Beach for $1,400,000. The transaction closed on July 26. The buyer had also purchased the vacant bank building at 300 S Ocean Shore Blvd. in Flagler Beach. That purchase, valued at $1,050,000, closed in January.

Lighthouse Harbor LLC, of Tampa, sold the 22.34-acre parcel 03-12-31-000-01010-0031 on south Colbert Lane, to Colbert Lane Development LLC, of Windermere, for $1,200,000. The transaction closed on May 26. The buyer has secured entitlements to develop a 240 unit luxury apartment community on the site.

L & M Investment Group LLC, of Palm Coast, sold 18 vacant residential Palm Coast lots to LGI Homes, of The Woodlands, TX, for $1,089,000. The transaction closed on June 18.

Maronda Homes LLC, of Jacksonville, purchased 19 residential building lots in Sawmill Creek phase I from Palm Coast Florida Holdings LLC, of Saint Simons Island, Ga., for $1,045,000. The sale closed on June 18.

Commentary: The abundance of future single-family residential construction signaled by most of the above transactions overshadows Flagler’s dearth of housing diversity. Local apartments are effectively at 100% occupancy.

Only the Lighthouse Harbor project is planned for multi-family. During the past 12 months, over 2,640 single-family and duplex housing units have been permitted. During the same period, no multi-family units were permitted. 


Toby Tobin: Commercial REALTOR®

I'm a licensed Florida commercial REALTOR® affiliated with Grand Living Commercial Realty in Palm Coast, Fla. As a real estate consultant to developers/builders, homebuyers, and sellers, and as a journalist, I have years of experience and a treasure trove of relevant data and local institutional knowledge.

Call me at (386) 931-7124 or email me at Toby@GoToby.com.

Listen to my radio show, Real Estate Mattersevery Saturday morning right after the 11:00 A.M. news break on WNZF News Radio at 1550 AM or 94.9 FM. Download the Flagler Radio App from the App Store so you can hear Real Estate Matters from anywhere in the world.

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Don "Toby" Tobin is a licensed real estate professional affiliated with Grand Living Realty. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.