|
22 Room Motel With 2300 Sqft Owner's Home
Location Oregon,United States
Asking Price Range $500K - $1.0M
Gross Revenues $164072
Net Profit / Cash Flow $41081
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2001
Number of Employees 1 - 3
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Reason for Sale Private.
Description Oregon coast motel adn home for sale. $995,000. Center of Bandon, Oregon.
Established 22 room motel with Triple A affiliation includes on-site laundry, two family suites with full kitchens, 11 single rooms, 9 double rooms on 0.62 acres.
Motel is in excellent condition and located within walking distance of restaurants, shops, museums and ocean beaches and harbor.
Property includes a beautiful 2300 sqft owner residence on 0.32 acre lot with private access from side street to two car garage and private backyard and private entry.
Location: 460 Highway 101, Bandon, Oregon 97411 in the center of town.
For sale price: $995,000. (Motel value $745,000; House value $250,000)
Amenities: Hand painted murals by local artist Jack Champagne in each room. Cable TV, refrigerator, microwave, WiFi, queen beds. Harbor view rooms. 2 bed, 2 bath Suite with full kitchen, living room and balcony.
Historic annual gross: $200,000 to $244,000.
Recession Yrs Gross $154,000 to 174,000.
Historic motel capitalization rate as high as 14%
Shown by appointment only. Do not disturb.
Finacial analysis:
Value of 2300 sqft house $250,000 No Income
Value of 22 room motel $745,000 Net Income shown below
Year gross annual income. Net annual income capitalization rate :164,072 41,081 5.51%
2009 154,593 43335 5.82%
2008 174,100 48040 6.45%
2007 213,178 53676 7.20%
2006 211,025 52979 7.11%
2005 217,393 77001 10.34%
2004 228,264 99356 13.34%
2003 228,193 96983 13.02%
2002 244,140 85908 11.53%
2001 239,360 106652 14.32%
Note: Net Income does not include $40,000 W2 income to owner which is accounted as an expense against gross income in the cap rate calculation above.
Potential Gross Income at 100% occupancy
22 rooms at $55/night for 30days/mo x 9 winter months equals $326,700
22 rooms at $90/night for 30 days/mo x 3 summer months equals $178,200
Total Potential Gross $504,900
Click Here To Contact Seller
|
|
