20 Room Hotel/Motel with 4 Retail Storefronts and Private Residence

VA

20 Room Hotel/Motel with 4 Retail Storefronts and Private Residence

Asking Price:$550,000

Cash Flow:$90,000

Gross Revenue:$132,525

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Rate/Sq. Ft.:N/A

Established:N/A

20 Room Hotel/Motel with 4 Retail Storefronts and Private Residence

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Business Description

Purchase this 20-Unit Hotel/Motel with Additional Residential Property.

*NOTE: The property houses Active Businesses. Do NOT attempt to contact the individual/store owners or tenants directly. Please contact listing agent for further information.

Inherited in 2004 the current owners purchased the corner stores of 1140 Hugo St and 6155 Sewells Point Road, to add to the properties at 1136 Hugo St and 6159, 6163, 6165 and 6167 Sewells Point Rd through 2005. After the purchase of the additional parcels, the owners surveyed the land to add the driveway to the commercial property at which point it was demised by the city of Norfolk as 1136 Hugo Lot B (private house) and 1140 Hugo St Lot A, which includes, 6155, 6161, 6163, 6165 and 6167 Sewells Point Rd.

Annually the owners obtain a permit from the city of Norfolk for 6165 to operate as a Hotel/Motel (rooming house), with 20 rentable rooms on a monthly or bi weekly basis.

Located off Sewells Point Road, near the high-traffic 5-Points intersection, The Anchor Apartments are conveniently located near the interstate, schools, commercial strip centers and only moments from the Norfolk Airport.

Property listed by MainStreet Commercial at Keller Williams Realty located at 1100 Volvo Parkway, suite 200, Chesapeake, Va | Tel: (757) 349-MAIN (6246)

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
N/A
Lease Expiration:
N/A
Support & Training:
Seller will provide support in transtion
Reason for Selling:
Retirement/Loss in the Family

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Fouad Mohit

Business Listed By:
Fouad Mohit

Sunbelt Business Brokers of Hampton Road

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Sponsoring Broker:
SUNBELT HRVA

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