30 Room Hotel And Shops Investment For Sale

Business description

Mexican owner will accept partner for 50% share of business. A 40-year-old hotel that needs refurbishing, it is the only hotel on the oldest public beach in Manzanillo. In addition to the 30 hotel rooms, there is a 2 BR house on the property and also 3 store fronts, currently rented. The property is in a prime business location, approximately 1-1/2 acres of land. Though currently a hotel, the owner is willing to let an investor tear it down and rebuild a shopping plaza or an office building. It is in a business area near the building that houses immigration offices and the port authority. It is surrounded by customs brokers, and various other port-related businesses.

Property information

Real Estate:

Real Property Included

Living accommodation:

2 BR house on beach in need of remodeling.

Location:

2 blocks from the federal dock on Av. Bureaucratica, San Pedrito, Manzanillo, located in an area of busy port business.

Other information

Expansion potential:

There are two ways to go: 1) Renovate this hotel, build cabins or bungalows, renovate the 2 BR home, open a restaurant, add a second story on the 3 storefronts that are currently rented; or 2) tear down existing structures and rebuild an office building to include restaurant/bar.

Competition / Market:

As a hotel, it is the only hotel in this section of Manzanillo. As Manzanillo is now the largest port in Mexico, there are many new business opportunities. This property is large enough to build an office building, or renovate the current structure. If offices were built, they would be easy to rent, as there is a shortage of storefronts in the area, and the port is continuously expanding. The only hotels close to this one are in central Manzanillo, about 6-8 blocks away. The only hotel in that area worth mentioning as "competition," is the Hotel Colonial, the first hotel in Manzanillo, a historic structure nicely maintained on the main shopping district street, Av. Mexico.

Support & training:

Owner will assist investor with all paperwork necessary. Owner speaks English, worked for the UN and is experienced. His brother, who managed this business, died this year, and owner wants to establish an income for himself, though at age 63, he does not plan to be living in Manzanillo, but will assist in any way he can to help partner achieve a successful business. He will give partner all rights to operate business as he sees fit. His other brother is currently operating the business, though he is old and in poor health.

Reasons for selling:

All family members no longer live in Manzanillo.

Trading hours:

24/7