Historical Hotel & Motel Sale Listing - Former Howard Johnson

Hotel & Motel For Sale

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Former Howard Johnson

910 E. Memorial Blvd, Lakeland, FL 33801

N/A

200 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
200
Building Size:
86,000 SF
Property Type:
Hotel & Motel
Property Sub-type:
Full Service
Property Use Type:
Investment
Cap Rate:
16%
Lot Size:
3 AC
Listing ID
15832048
Last Updated
over 1 year ago

Description

The hotel under 70 years "ground lease" remain that have 200 room that already open for 130 room and 30 room waiting for license and other 40 room still under re-model and Restaurant with bar that the Restaurant can open any time and (Bar license that shall apply by new tenant, if rent
to someone), now net income approx $250,000. plus Restaurant / Bar/ Rent and plus 70 room (after open) projection net income $500,000. above 16% cap
rate is base projection, base on now the cap rate is 7.5%.
Other amenities include: Boardroom 5,000. sq. ft /business center & wireless internet/ outdoor swimming pool/ Fitness center/ 5,500. sq. ft TIKI Deck & Fishing Dock / BBQ Grill etc...
Next door motel also for sale $1,980,000. if package sale 3.8M for two property, and seller pay 6% to selling agent

From Orlando: Take 1-4 west to exit 28. go straight about 4 miles, we are to the left
From Tampa: Take 1-4 east to exit 28. go straight about 4 miles. we are to the left.
Location: Cross street is $30,000,000. Mall / Next Bigness Church and near by Joker marchant / Faantasy of flight / Lakeland Center / Polk county museum of art /
FL southern college etc....

Map of 910 E. Memorial Blvd, Lakeland, FL 33801 (Polk County)

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Created 8/2/2008