You are not going to want to miss out on this fantastic motel opportunity! 12 units, motel currently running 11 units, 12th unit is rented out to housekeeper, who cleans rooms, does laundry, and helps run office. The motel is situated within 5 miles of all major businesses including the ocean and Kennedy Space Center.
This motel is currently running 11 rooms, that could run up to 15 rooms. There is a very nice fully renovated 3/2 owners house on the property. The current office is already renovated and ready to accommodate a full bedroom, and old retired restaurant building situated in the middle of the property has begun renovations to make an owners suite with full kitchen, bedroom, living room, bathroom attached to a new office, this would only use 1/3rd of the building so with the design out of the whole building adds two more rooms for the motel. Totaling 15 rooms.
Current numbers are based of 11 rooms that are rented at 91% occupancy.
Current Revenue Streams average $75 per night/per room with NASA employees occupying 5 rooms with more soon to come. 11 rooms based on $75 a night is $825/day -- at 82.5% occupancy the rooms are fill 300 days out of the year. which shows a gross income of $247,500 for the year.
The current owner took over in late July 2017 and his gross numbers go as followed:
July 2017 (one week): $4608.47
August 2017: $15,602.32
September 2017: $14,000.17
Octobe 2017r: $16,381.23
November 2017: $14,421.96
December 2017: $17,255.90
Total Gross for new owner: $82,270.05
Total Expenses same period: $26,559.04
Net profit: $55,711.01
So far in 2018 (addition of new NASA employees)
January 2018: $19,468.53
February 2018: $19,503.33
March 2018: $26,302.63
Estimated using march numbers @ $26,302.30 x 10 months = $263,026.30 + Jan/Feb
Totaling a gross of: $301,998.16 gross for the year in 2018 estimates.
Thats with 11 rooms, now expand to 15 rooms (maybe you live on property at the house or rent the house out, this figure does not include rental of the house)
15 rooms x $400 week per room = $6000/week x 52 weeks = $312,000 gross income
15 rooms x $75/day per room = $1125/day x 365 $410,625 gross income.
CURRENT EXPENSES: (month/year)
LP gas: $112/$1,344
Prop Tax: $621/$7,452
Credit card fees: $250/$3000
Business purchase price: $900,000
House on property: $250,000
Total price: $1,125,000
$254,358 / $1,125,000 = 22.6%
CAP RATE: 22.6%
Phenomenal Opportunity to own an amazing already income producing property with future to grow even further! Seller is willing to do seller financing with 50% down, or do a triple net lease
Lease would look something like $300k down for business, $5000/per room deposit (12 rooms x $5000 = $60,000) fully refundable at the end of the lease, owner covers all expenses. arrangements can be made to have live in owner suite on property or house details would be worked out.
Please sign and return this NDA for more info and showing: (Travel Inn NDA.pdf)
Office Interior (already ready to be a room)
Building #2 Units 6-12
Building #1 Units 1-6
Unit 6-12 left side
middle of units
units 1-6 left side
units 1-6 right side
septic middle of units 1-6
unit 1 interior
unit 1 interior
all units look the same (microwave, fridge, closet, bathroom, bedroom, desk, flatscreen tv)
microwave, fridge, tv, dresser, desk
MORE PICTURES UPON REQUEST!!