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Independent Motel For the Price of a House in AL!

Listing was updated at: 07/15/2019
Independent Motel For the Price of a House in AL!

Property Overview

Price/Rent PSF $ 259,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 1
Date Available 07/09/2019
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Description

Property Highlights: Rentable Rooms: 15 2017 Revenue: $104,000 ADR: $50 Asking price: $259,000! Revenue Multiplier: 2.4x Occupancy Rate: 40% Cap Rate assuming Owner-Operator working onsite: 32% Owner Operated, Independent Motel with no competition for a 15-mile radius! Purchase a Motel for the Price of a House! The town is surrounded by various lakes catering to the fishing industry. Linden is comprised of manufacturing plants such as West Rock, Foster Farms, Linden Lumber, Cemex, and a few others. The motel includes an owner's suite with bedroom, living room, and kitchen. Total of 15 rentable rooms; 9 upstairs and 6 downstairs. Each room has a refrigerator and microwave. There is a parcel next to this property (.25 acres) that will be included in this sale. The total acreage will be over half an acre. Seller has owned and operated herself for the past 10 years and is ready to retire.

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