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Jeff Beggins Of Century 21 Acquires Sandalwood Beach Resort In North Redington Beach For $6M

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SOLD
$6,000,000

Florida

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Hotel
Sold 07/17/2025
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SOLD

Jeff Beggins Of Century 21 Acquires Sandalwood Beach Resort In North Redington Beach For $6M

17100 Gulf Boulevard

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Hotel
Sold 07/17/2025
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

The property involved in this transaction is the Sandalwood Beach Resort located at 17100 Gulf Boulevard in North Redington Beach. The resort comprises 47 units and was built in 1959. It was sold for $6,000,000, translating to a price per key of $127,660. The property has been significantly affected by Hurricane Helene, leading to plans for redevelopment and demolition of the existing structure.

Summary of transaction details:

  • Property Type: Resort
  • Transaction Amount: $6,000,000
  • Market: North Redington Beach
  • Buyer: Jeff Beggins - Century 21
  • Co-Buyer: Bill Karns
  • Keys: 47
  • Price per Key: $127,660

A group led by Jeff Beggins and Bill Karns is set to redevelop the site following the acquisition. The plan includes demolishing the hurricane-damaged structures to make way for new construction aimed at revitalizing the property.

Players

Century 21
Century 21
BROKERAGE
Century 21
Century 21
BUYER
Century 21
Century 21
BUYER

Details

SOLD
IMAGE: Jeff Beggins DATE: 07/17/2025 ADDRESS: 17100 Gulf Boulevard MARKET: North Redington Beach ASSET TYPE: Resort BUYER: Jeff Beggins (@JeffBeggins) - Century 21 (@Century21); Bill Karns SALE PRICE: $6,000,000 KEYS: 47 ~ PPK: $127,660 NOTE: A group led by Jeffery Beggins and Bill Karns bought the hurricane-damaged Sandalwood Beach Resort in North Redington Beach for $6M and plans to redevelop the site. The 47-unit property, built in 1959, will be demolished following destruction from Hurricane Helene, with new construction expected.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73