248 Room Hotel Property located in busy tourist area of Virginia on ov

Hanover County, VA

Seller Financing Available
248 Room Hotel Property located in busy tourist area of Virginia on ov

Asking Price:$10,000,000

Gross Revenue:$4,400,000

Price/Sq. Ft.:N/A

NOI:$1,400,000

Building SF:N/A

FF&E:N/A

Year Built:N/A

248 Room Hotel Property located in busy tourist area of Virginia on ov

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Property Description

2 Hotels in Destination Location on Same Property - MUST SEE!!

This 248 Room property is located right off I-95 in Virginia near Tourist Attractions. Currently ending it's association with current flag and will be split into two separate hotels putting two buildings with 104 rooms and 127 under separate flags effective Nov. 1, 2016. King, Double and Kid Themed Rooms that are sure to make vacations a memorable one. Located on over 10 sprawling acres with business center, laundry, inground pool, tiki bar, tennis courts, mini-golf and well manicured grounds. Franchise restaurant leases space in the hotel.

Property does $2 m. plus revenues besides other income of over $100k from Restaurant Lease and ticket sales commission. The Restaurant does over $1.2m annual sales and could go up if managed with personal attention. After brand changes the revenues are projected to be $4.4 m for hotels and other income will go up to about $500k as they are developing new sources of revenues including weddings. This will net $1.4 m or better before debt service to owners every year.
For passive investors, Management would be available on very competitive terms so it is hassle free investment. Please contact Darlene Ragone for additional information 888-869-6069, Ext. 103 or Christopher Esposito at 888-869-6069, Ext. 34

Detailed Information

Type:
Other Business Real Estate
Building Status:
Established
Facilities:
248 Room Hotel Property with 2 separate buildings - 2 separate flags
Location Description:
Located adjacent to major tourist attraction

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Darlene Ragone

Property Listed By:
Darlene Ragone

Moxie Brokerage Group, Inc.

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