Great property for an owner operator. There is a lot of room to grow here with huge upside potential. This is a 21 unit motel with 16 operational units, 3 rooms are used for storage from previous ownership, 1 for onsite housekeeping and one room that is left untouched. The motel does have an onsite managers living space (2bed 2bath apt) and the office is attached to the mgrs apt. This is a single story corner lot motel on a high traffic intersection. The motel does come equipped with a surveillance system, motel WIFI system with firewall, on site motel laundry room with supply rooms, heat/cool 220 wall mount ptacs, and a water heater that was replaced 3 years ago, these are some of the basics. The property has been family owned for about 35 years and has had a proven track record over the years as a motel. Currently, the property only accepts cash and no credit cards, there is no online presence, no atm, no ice or vending, no microwaves or fridge units in the rooms, and daily stays only. The last 5 year average gross revenue is $350k. So there is huge upside to add all the mentioned above to increase numbers. This property is also a good candidate for multifamily, apt conversion, assistant living, section-8 rentals as well.
Main reason for the sale is because the owner is currently looking to retire since her spouse recently passed and the motel is becoming to much for her to handle at this time. Also, she is looking for all cash and no land contracts or owner financing. If you are interested please reach out. Its a very clean maintained property that can operate as is or major/minor improvements can be made to increase revenue.
If you would like to view the property please reach out and we can schedule something. Only thing I ask is give me a time and date. And please show up at specified time.
