15 Unit Motel &amp; 2 Bed / 1 Bath Residence by Lake Erie
Asking Price: $299,000 Gross Revenue: $111,666Cash Flow: Not DisclosedEBITDA: Not DisclosedInventory: Not Disclosed FF&E: Not Disclosed included in asking priceReal Estate: Not Disclosed included in asking priceShare this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
Highly regarded 15 unit motel & private residence near Lake Erie for sale. Currently operating as The SunSet Motel. Immaculately maintained! Located in a major fishing tourism area near Lake Erie - just 1 mile from Exit 3 on I-90 & including highway visibility. The 5,208 ± SF motel includes 15 turn-key units. All units feature refrigerator, microwave, coffee pot, flat screen TV, free WiFi & A/C. Situated on 16 acres with abundant parking including on site boat storage & a fish cleaning station to accommodate fishing tourism. Separate 1,276 ± SF - 2 bed, 2 bath residence & attached office with half bath included in package. Package also includes a 2,304 ± SF pole barn with overhead door & electric - offering potential for events or owner hobbies. Situated on 16 acres with frontage along I-90 offering excellent visibility and abundant parking for both cars and boats. The property is located just 1.1 miles from Exit 3 on I-90. Daily room rates range from $41.00 to $91.00 depending on season. Gross operating income (2018): $111,666. Detailed information available with signed non-disclosure agreement (attached). Contact broker for additional information or to schedule a tour.
* LOCATION – Visible from major highway & close to exit. Just 1.1 miles from highway exit (I-90 Exit 3). * FISHING TOURISM – Located in a high fish tourism area near Lake Erie with 3 seasons of fishing tourism: springtime – small mouth bass, summertime – perch & walleye and fall – steelhead. Other popular game fish include northern pike and muskellunge. * PET FRIENDLY – 10 of the 15 units are currently designated as pet friendly
Growth & Expansion:
Potential for growth by developing online booking - currently no online booking.
Turn-Key 15 Unit Motel & 2 Bedroom | 1 Bath Residence Near Lake Erie
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