Owner Operated Motel just 2 hrs from Atlanta!
Listing was updated at: 06/04/2019
Property Overview
Price/Rent PSF $ 389,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 1
Date Available 05/03/2019
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Rentable rooms: 18 Cap Rate: 26% Net Profit before Debt Service: $66,000 (not including the owner's payroll of $18,000 per year) Total Take Home after Debt Service: $58,000 Less than 2 hours from Atlanta! Perfect for a family to live and run. Property has 18 rentable rooms and a 2-bedroom manager's apartment on the premises. Seller has owned it for 5 years and is currently only renting 17 rooms as one of the rooms is given to his children. Motel is located near a few of the most popular destinations including the Horseshoe Bend National Military Park, Wellborn MuscleCar Museum, Hodges Vineyard and Winery, and Wind Creek State Park. Also very close to Lake Martin Recreation Area and Cherokee Ridge Alpine Trail. Only 12 mins away from Boat Tours & Water Sports Activity! 30 minutes from Auburn University! 40 mins away from Tuskegee University! Less than 2 hours from Atlanta! Nearby Restaurants are Lake Martin Pizza Co, La Posada Mexican Grill, Bob’s Fine Foods and many more. This motel is walking distance to a community hospital! Even though the payroll is only $1,500 a month, please realize that it also includes living accommodations which are a 2-bedroom apartment and another hotel room for their personal use. If you are not an owner-operator, then we recommend not to consider this property. Asking Price: $389,000.