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Fanning Springs, FL
Classic Florida Style 28 Room Motel For Sale For $899,000! Cap Rate is 8%. Are you the buyer with vision and energy to make this motel shine again? Established in 1955, this a classic old Florida style motel, with drive up to the door parking, simple amenities, and a peaceful atmosphere to make the guest’s stay a pleasant one. The motel is 13,700sq.ft. on approximately 2.08 acres. Guest come to visit the State Park, go fishing or boating on the river, visit the nearby winery, and relax away from big city pressures. The seller has added a new outdoor sign, new air conditioners, new carpet, new beds and bedding in the last year or two, but admittedly the motel needs additional cosmetic work and upgrades to compete in today’s competitive environment. While some rooms have WI-FI, refrigerators and microwaves and even ceiling fans, a new owner would be wise to bring every room to consistent modern standards and to ensure a bright and attractive curbside appeal. This is the type of motel that would be great for an owner/operator or family. It will be bought by someone who understands the beauty of the location and who can bring the motel back to its peak revenues of $245,000 to $265,000. Current revenues in the last several years do not match that, but the location is worth the current asking price for a well-located Florida motel. Call and make an offer today! Seller will consider seller financing with $250,000 cash down. Call for more details
Fanning Springs, FL
Traditional Florida Motel For Sale For $650,000! Cap rate is 8% This is the perfect size Mom and Pop motel that needs someone with energy and vision to bring it into the 21st Century. It is approximately 9,688sq.ft. on approximately 1.80 acres of land. It was built in 1957. This is a diamond in the rough, traditional style Florida motel, with good frontage on a main highway in a busy tourist area! Currently there is no advertising, no website, no Internet presence, and yes, the rooms and office need to be completely upgraded. But add a little paint and some new furniture, and some tech savvy Internet presence and a new owner will multiply the revenues substantially! Plus there is a closed restaurant that would make a great coffee or snack shop and a pool could be re installed to take advantage of the Florida sunshine. Near State Park and the Suwanee River and only a half an hour from Gainesville and the University Hospital. It is close to shopping, WalMart and the small city. Present owner is motivated to retire, so now is the time to buy! Revenue figures are not available but make your own projections and present a reasonable offer. Factor in the renovations and it can be a great family motel again. Seller financing possible with good down payment. Call for more details
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