Paul Michael Cestaro

The subject property is made up of 2 Motel parcels a total of 2744SF/3284SF = 6,029 SF on 1/2 Acre. 14 fully renovated rental units (Licensed for 15), consisting of 4 Large 1-BR Units and 10 efficiency suites “All” with full kitchens and new designer baths & flat screen TV’s. On site Coin Op Laundry. Operation is currently being run virtually absentee. Owner puts in about 1 hour weekly basically to collect cash rents and wants to retire.Currently performing at a 5% CAP RATE with Limitless Potential.Property has long term tenants in place (paying CASH rent weekly) but could be converted over to Daily resort rental and or "Air BNB rentals" which would dramatically increase revenue and present a 12% cap. (see Pro forma) State of the art video surveillance system. New insulated hurricane windows and commercial gauge 50 year life span metal roofs installed in 2007, seamless gutters, brick pavers, ... Less