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Economy Motel For Sale
Location Tennessee,United States
Asking Price Range $500K - $1.0M
Gross Revenues $225000
Net Profit / Cash Flow $50000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1998
Number of Employees 4 - 5
Relocatable No
Number of Employees 4 - 5
Real Estate Owned
Reason for Sale OTHER BUSINESSES IN DIFFERENT STATE
Description 50+ UNIT MOTEL MANCHESTER, TN ONLY $550,000! With pool, separate restaurant building,
newly renovated rooms, lobby, and closed restaurant, offered with great owner financing terms and low cash down! Newer room a/c units and furnishings!Call Paul 1-859-325-0257.
Seller recently took back property through foreclosure and has another motel in a different state so he cannot devote the time to operating this one. Previous historical revenues were around $300k but recent numbers are not available from foreclosed operator. Motel is located in business district of downtown Manchester, Tennessee, and does steady business as an independent economy motel. It was bought several years ago by a corporate buyer who renovated the rooms, lobby, pool, and restaurant and then tried to run it as an upscale boutique hotel. However, the property is best operated as a classic motel. This corporate buyer had multiple properties in several states and lost them all when the real estate investment business hit a downturn. Previous owner took the property back and reopened it when he discovered corporate buyer had closed the doors and walked away and since seller took it back it has been operated by local staff with miniman advertising. The motel is best run by an owner operator who understands the motel business.
Seller will make a great deal with owner financing for the right person who is not afraid of taking over the difficulties of a foreclosed property (e.g. unknown income and deferred expenses from corporate buyer). Motel is being sold "as is, where is". Motel is currently open and operating.
Beautiful living quarters for owner or manager.
Call now! 1-859-325-0257
Click Here To Contact Seller
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