PROFITABLE MOTEL IN RESORT CITY with GREAT DEVELOPMENT POTENTIAL
| Asking Price: | $3,800,000 | Inventory: | |
| Gross Revenue: | $900,000 (comments below) | Real Estate: | $3,200,000 ++ |
| Cash Flow: | $330,000 (comments below) | FF&E: | $120,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: Moderately Seasonal - business and vacation | |||
| Cash Flow Comments: Solid living with Development Potential | |||
This downtown motel has 42 modern rooms, high visiblitiy, an indoor pool and is located on the main street in the heart of a world famous racing, college and performingg arts city, near to NY's Capital District and numberous recreational and lifestyle amenities. Offers private parking and access to convention facilities and shop and dining opportunities. Established clientele over 40+years, excellent physical plant recently renovated, and expansion is "on the shelf". Buyer will benefit form head start on design and local approval of modernization development that would expand room count and add spa and resstaurant services. Offered at $ 3.8 MM, the business currently generates over $ 330,000 cash for active owners who enjoy a comfortable living in a great place!
About the Business
Year Established:1963
Employees:4 full time - 3 part time
Facilities:16000 sqyare foot two story building with half basement on .4 acre site on main street, with ample parking on premises and in adjacent city facilities, 21 Doubles, 13 king and 8 singles surround a large center pool in attractive atrium setting.
Market Outlook and Competition:One of a very few development possibilities in a business and vacation venue, where shopping,arts, college, race track and suburban nearness to Capital District has seen a number of hospitality facilities come into the area.
About the Sale
Reason For Selling:Current Owners have had a good living for 10 years, now want to travel and enjoy thier far flung family. Chose to sell rather than tie themselves to committments of developing the special property by adding rooms, spa and restaurant.
Seller Financing:Cash Preferred but open to creditworthy considerations.
KEYWORDS: motel, development, main street, indoor pool, modern rooms, resort city, racing, college town, performing arts center, expansion potential, plans on the shelf, locaton location location, vibrant community resort city, NY Capital District, recently renovated.
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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