56 Room Independent Motel near London, Kentucky - Owner Financing Available

363 Kentucky 80, Manchester, KY

$1,750,000

Price

9%

Cap Rate

$200,000

NOI

Gallery
Street
Map
Overview
Cap Rate
9%
NOI
$200,000
Building Size
32,846 sqft
Lot Area
1.4 acres
Keys
56
Star Rating
4
ADR
$79
Year Built
2002
Management
Unencumbered
Floors
1
Parking Spots
60
Year Last Renovated
2021
HVAC
Yes
Floor
1
Investment Strategy
Opportunistic
Description

56 Room Independent Motel - Former Best Western - Built in 2002. Exterior Corridor - Indoor Heated pool. Located on busy parkway. 20 minutes from London, Kentucky. Low Property Taxes - $15,000/Year. Healthy NOI - $200,000/Year. Needs Owner Operator. Current owner is absentee. Revenues average $500,000/Year. Owner is currently upgrading motel with furnishings from Holiday Inn Express & Suites including lobby and all rooms + new flat screen TV's. Owner will finance with $400,000 down and 5 year term at 6.00% interest rate. Take over operations immediately. No Bank or Closing costs. Great starter motel or for retiring person seeking steady income.

Highlights
  • OWNER FINANCING
  • Only Motel in Area
  • New Holiday inn Express & Suites Furnishings
  • Indoor Heated Pool
  • Good NOI
  • No PIP
Location
Gallery