Historical Hotel & Motel Sale Listing - FRANCHISED/FLAGGED MOTEL

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FRANCHISED/FLAGGED MOTEL

2050 GORDON HIGHWAY, Augusta, GA 30909

N/A

114 Rooms | Hotel & Motel

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Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
114
Building Size:
35,000 SF
Property Type:
Hotel & Motel
Property Sub-type:
Economy/ Limited Service
Property Use Type:
Investment
Commission Split:
2.5%
Cap Rate:
9%
No. Stories:
2
Year Built:
1973
Corridor:
Exterior
Lot Size:
1.65 AC
Parking Ratio:
2 / 1,000 SF
Listing ID
16371684
Last Updated
166 days ago

Utilities

Description

FRANCHISED/FLAGGED MOTEL ON 1.65 ACRES NEAR BOBBY JONES EXPRESSWAY BUILT IN 1973 WITH ROOM ADDITIONS IN THE EARLY 80'S. 114 ROOMS INCLUDING LOBBY & GUEST LAUNDRY. FRANCHISE FEE IS $11,400 PER YEAR. AVERAGE GROSS ANNUAL INCOME FOR 2006, 2007 & 2008 IS $626,672 PLUS VENDING FUNDS WITH AVERAGE ANNUAL EXPENSES RANGING FROM $400,000 TO $425,000. FULL FINANCIAL REPORT RELEASED UPON CONTRACTUAL OFFER WITH A 30 DAY CONTINGENCY TO INSPECT FINANCIALS AND THE PROPERTY. JUST REDUCED ON 12/10/11 FROM $1,950,000 TO $1,750,000 AND NOW TO $1,600,000 FOR QUICK SALE. SELLER IS MOTIVATED AND NEGOTIABLE. SELLER WILL OWNER FINANCE WITH $500,000 DOWN, AT
7% INTEREST AMORTIZED ON 30 YEAR NOTE UP TO 2 to 3 YEARS.

GORDON HIGHWAY NEAR BOBBY JONES EXPRESSWAY.

Map of 2050 GORDON HIGHWAY, Augusta, GA 30909 (Richmond County)

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Created 8/26/2009