17 Unit Motel & 2,300 SF 3 Bedroom | 2.5 Bath Residence by Lake Erie

North East, PA (Erie County)

17 Unit Motel & 3 Bedroom, 2.5 Bath Home in Wine Country by Lake Erie
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Asking Price: Get Financing: $459,000

Cash Flow: N/A

Gross Revenue: $307,147

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $303,400

Established: 1959

17 Unit Motel & 2,300 SF 3 Bedroom | 2.5 Bath Residence by Lake Erie

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Business Description

17 Unit Motel & 2,300 SF 3 Bedroom | 2.5 Bath Residence by Lake Erie in Wine & F

Be your own boss & work from home! This turn-key 17 room motel & 2,300 SF home is just what you've been looking for! The Colonial Motel is located along E. Lake Road / Route 5 just 4.5 miles from I-90 at Exit 45 near North East Marina, Freeport Beach, multiple renowned fishing sites including Twentymile Creek & Lake Erie for fall, spring & summer fishing as well as over 20 wineries/breweries/distilleries and more within a 20 minute drive. The property is in excellent condition with no deferred maintenance. Proforma net operating income at $181,166 based on 55% occupancy with daily room rates: $90-$150. Home features 3 bedrooms, 2.5 baths with master suite, custom kitchen, great room, 1 car attached garage & more.

Contact broker for tour or additional information. Non-disclosure agreement required for complete offering memorandum (see attached).

Attached Documents


Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
9,841
Employees:
2
Facilities:
MOTEL: 17 units totaling 6,102 SF; built in 1959. All 17 motel units are fully climate controlled and feature parking at room door, phone, cable/HBO, wireless internet, kitchen/kitchenette with refrigerator/ freezer, microwave & coffee maker. There are also electric hook-ups for boats. HOME: 2,300 SF 3 bedroom, 2.5 bath home with custom kitchen, combined loving room / dining room with open floor plan, master bedroom suite with jacuzzi tub for two & separate shower, 2 additional bedrooms, 1.5 additional bathrooms, great room with vaulted ceilings, two-tier deck and one car attached garage. Built in 1977 in a blue ribbon school district.
Competition:
Situated along a major thoroughfare in the Lake Erie Wine Country as well as in close proximity to several renowned fishing locations including Twentymile Creek & Lake Erie. A short drive to nearby Peek n'Peak Resort, a ski, golf & spa resort, as well as Chautauqua Institution, an arts and educational summer community.
Growth & Expansion:
Upside potential with enhanced marketing and management
Support & Training:
Owner training available.
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Sherry Bauer

Business Listed By:
Sherry Bauer

SBRE

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