This Hotel & Motel Property is Off-Market.

910 E. Memorial Blvd
Lakeland, FL 33801 ·

200 Rooms · Hotel & Motel For Sale

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Former Howard Johnson

Price N/A Property Sub-type Full Service
No. Rooms 200 Property Use Type Investment
Building Size 86,000 SF Cap Rate 16%
Property Type Hotel & Motel Lot Size 3 AC
Listing ID: 15832048 Date Created: 08/02/2008 Last Updated: 03/31/2009

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....

Research

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

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