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Simple 15 unit motel overlooking the water, located in a popular tourist area. Most important, there is an immediate opportunity for increased value with a refresh to the rooms. Current rates are approximately $110/night, where the market is happy to pay $150 and more per night for rooms at competing properties. Owner just have not had time, given other commitments.
Seller's Discretionary Earnings of approximately $100k in 2018 and 2017.
** Seller's discretionary earnings are the pretax and pre-interest profits before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. In addition, SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.
Minimum Equity Required
Town Sewer and Water
Just over 1/2 acre of land
No living quarters for owner
Roofing, siding, windows, h/w tanks, all have been updated in recent years.
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