This property is Off-Market
910 E. Memorial Blvd
Lakeland, FL 33801 ·
200 Rooms · Hotel & Motel For Sale
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|
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....
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