This Hotel & Motel Property is Off-Market.

2050 GORDON HIGHWAY
Augusta, GA 30909 ·

114 Rooms · Hotel & Motel For Sale

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FRANCHISED/FLAGGED MOTEL

Price N/A Cap Rate 9%
No. Rooms 114 No. Stories 2
Building Size 35,000 SF Year Built 1973
Property Type Hotel & Motel Corridor Exterior
Property Sub-type Economy/Limited Service Lot Size 1.65 AC
Property Use Type Investment Parking Ratio 2 / 1,000 SF
Commission Split 2.5%
Listing ID: 16371684 Date Created: 08/26/2009 Last Updated: 11/04/2013

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.

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

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