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Motel 6, KY
144 North Joe B. Hall Avenue, Shepherdsville, KY 40165
98 Rooms | Hotel & Motel
Hotel / Motel - Off Market
- No. Rooms:
- Building Size:
- 40,000 SF
- Property Type:
- Hotel & Motel
- Property Sub-type:
- Economy/ Limited Service
- Property Use Type:
- Listing ID
- Last Updated
- 167 days ago
*****The Property is Back on the Market******
This 98 keys, two stories, interior corridor asset is well located at an exit off Interstate 65. It is about 19 miles south of downtown Louisville, KY and about 15 miles from Louisville International Airport. At an asking price of $ 2.1 million, at $21,000 per key, the property offers a great opportunity for an owner operator or even an investor.
The property was renovated in 2011 with nearly $400,000 in capital improvements. The property shows very nice and no major PIP is anticipated from Motel 6. In 2008 the property attained revenues of nearly $850,000. With newly renovated property and improving economy the property is capable of reaching the 2008 revenues and beyond.
In 2011 the property attained nearly $700,000 in revenues with the Net Operating Income (NOI), of nearly $332,000. At a market rate financing for a new purchaser the property provides app. $210,000 to an owner operator after mortgage with over 40% Return on Investment (ROI).
The Shepherdsville lodging market is fairly stable. The leisure demand is generated by Interstate 65 while other local small to medium sized businesses and contractors provide the corporate demand. Additional demand in the market will be generated by former Six Flags Kentucky Kingdom amusement park, expected to reopen in May 2013, employing 25 people full-time and 800 seasonal workers.
Map of 144 North Joe B. Hall Avenue, Shepherdsville, KY 40165 (Bullitt County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P