 34
Unit Motel |
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Report Date: |
2/5/2010 |
Office Id# |
504578 |
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Primary
Category: |
Motel, Restaurant |
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Financial
Information |
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Asking: |
$1,450,000 |
Gross: |
$ 20-40,000/mo |
Cash Flow: |
$ Varies |
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Furniture, Fixtures &
Equipment: |
$ 400,000 |
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Inventory: |
(not included in
sale price) |
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Real Estate: |
$ included in sale price |
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Financing: |
$280K down with terms
acceptable to sellers, make offer
Appraised at construction
time for $2,400,000. Big
bonus: Financing available
at 5% interest for 20 years
fixed with 20% down.
Payments of $7400/mo P&I.
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Summary
Description:
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Motel is adjacent to Banquet
and Conference Center and
the proposed hockey arena
which is scheduled for
construction in April 2010.
Also, planned is a new
Cineplex to be located
across Highway 10. Motel
has 34 units, 2 levels with
elevator. Rooms are very
tastefully furnished in
cherry wood and granite, 15
double rooms, 17 single
rooms and 2 studio suites.
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General
Information: |
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Facilities: |
17,036 sq ft on .87 acre |
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Competition: |
Only
motel in the vicinity. |
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Growth &
Expansion: |
Growth will be in several
phases. Located next to a
conference/wedding center
with 29 weddings already
booked for 2010 will add
revenue as well as the
planned hockey arena, also
additional land is available
to double the size of the
facility once the hockey
arena is fully operational. |
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Support /
Training: |
30 days for new owners. |
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Reason
Selling: |
Partners to divest of
property |
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Contact
information: |
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Contact:
Jerry Vlaminck |
Phone:
763.972.9077 OR 763-972-9080
Fax |
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Email:
hospitalityserv@frontiernet.net |
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Prospect Contact Options:
Require prospect's
name
Require prospect's
telephone number
Ask for prospect's
available funds
Ask for prospect's
time frame
Require prospect
submit standard
Confidentiality Agreement |
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