Land & Buildings For Resort Hotel for Sale

Business description

All land & improvements with 48 room hotel + gaming license owned by the business + + + 1,000 yards from sea of cortez with best fishing in north america for $400,000 down payment . . . Read on!!!

Only gaming license in town of San Felipe, Mexico. Only Spa in town with thermal, mineral water pools. First & only hacienda style hotel in town – rustic atmosphere. Carlos Slim is major area owner. Views of Sea of Cortez & Sierra Madre Mountains. Hotel website describes water as getting up to 98 degree – “bathtub temperature”.

Best fishing in North America. You can put 2-3 hooks on one line and pick up 2-3 fish at one time – mostly white sea bass. In 4 hours – caught 1/2 ton of fish! We are told “after fishing there – anywhere else is boring!” Never starve – plenty of food there. Plus – in these waters – No Pirates!

CostCo delivers what you buy to San Felipe – you can shop or order on-line.

Purchase terms: $2 million price, 20% down ($400,000), with $1.6 million balance at 6% with note for 10 years.

Purchase is subject to lease and renewal option that extends 15 years. Upon purchase of hotel land and buildings – you will receive this lease income of $60,000 per year ($5,000 per month) PLUS escalation equal to 3% of sales over 2008 level of approximately $630,000. You can also acquire the adjacent vacant land for further development as golf park, children’s playground, movie theater complex, bowling, RV rental, or hotel expansion – with separate access. The adjacent land is priced at $5,000,000, with comparable terms to hotel land & buildings stated above.

Hotel business has the above 15 year lease (10 yr) and renewal option (5 yr). Hotel business also has right of first refusal on hotel property (land and buildings), and on adjacent development land.

Location: San Felipe is at north end of Bay of Cortez – which separates Baja California from mainland Mexico. (a) Mexicali is 2 hours from San Diego, CA – and San Felipe is 2 hours from the Mexicali border. (b) One can go by car via El Centro, rather than Mexicali. (c) There is also a small, private airport near the hotel.

Reputation of cleanest hotel in town. Expansion opportunities: Additional land available, plus no present relations with travel agents. All repeat business – with groups taking up to 15 rooms. Put together your own consortium to buy hotel property!

Separate discotheque building can be reopened. Owner is world class master chef with former restaurant in Mexico City. His pictures with Marilyn Monroe, Jayne Mansfield, etc. excluded from sale - from hotel business.

For more information, please contact Joe Gertz.

Property information

Real Estate:

Real Property Included

Location:

San Felipe, Mexico

Size in square feet:

23,488

Other information

Support & training:

Seller will training for 12 weeks at 30 hours/week.

Reasons for selling:

Retirement

Trading hours:

Hotel: 24/7, Restaurant: 7-3 & 5-11pm

Financing available:

Seller will provide financing for approved buyer.