Motel With Solid Financial Upside In Syracuse For Sale

Business description

LOCATION: Situated on the busy east/west U.S. Highway 50, in Syracuse, Kansas, the town has an approximate population of 1,800 people at an elevation of 3,233 feet. Only 16-miles east of the Colorado state line, Syracuse lies still in the Rocky Mountain Time Zone (RMT). Bordering the Arkansas River on its south, the town is the seat of Hamilton County, with a population of about 2,700.

Syracuse features a vibrant economic environment. It is the important regional center for agriculture, energy, transportation, offices, multitudes of different businesses, shops and restaurants, the city buzzes with vigor and has its own Hamilton County Hospital. Located in the heart of America’s “bread-basket,” Syracuse has exciting business potential and a fertile agricultural environment. It offers good schools and is a great place to bring up a family, or simply to retire to from hectic big-city life.

The Tamarisk Golf Course is a 9-hole regulation length course, fully irrigated, situated along the beautiful Arkansas River, assures great days at the links. Its clubhouse overlooks a small lake and has a full range of services available. Hunting is world-class in the region, and the area provides for good fishing.

MOTEL IMPROVEMENTS: 30-guestrooms in a two-story building. Cable/HBO TV’s, telephones, Wireless Internet service, some rooms have refrigerators and/or microwaves, individual HVAC units. Land area is approximately one (1) acre (+/-); original guestroom construction was in the 1950’s; the second story rooms of the front building were added in the late 1980’s. The motel lobby features a large reception area with its front desk.

OWNER/MANAGER RESIDENCE: Directly behind and next to the Front Lobby are two sizable rooms (non-guestrooms) with a full bathroom in place, presumably a former owner-residence. These rooms are currently under-utilized as a back-office and manager bedroom, and could easily be transformed back into a nice owner-operator residence, as it presumably once was.

Additionally, to the back of the large property, a doublewide modular home features a master bedroom-suite with full bath, 2 additional bedrooms, 2 bathrooms, a large living room, and kitchen. The currently unused home is in need of new carpeting, repairs, and additional upgrades.

RAILROAD CLUB CAR: A former Railroad Sleeping Wagon prominently situated on the large motel property was in years past rented as a suite to travelling railroad-enthusiasts and families with curious children. Air-conditioned and heated, it offered sleeping accommodations, lounge seating, and an experience of railroad history. This unique feature should either be properly restored, utilized as marketing tool and be put back into business, or it should be sold or donated via eBay to free the large street-frontage it occupies without use.

RAMBLE N RESTAURANT & SUPPER CLUB: This building, and the land it sits on, belong to the motel and have been leased to quality operators. The same tenants were in place when the current Seller purchased the motel in February of 2000. The monthly rental at this time is $700.00, which has not changed much in the last eleven or more years. It is undoubtedly the best restaurant in town and has a Kansas club liquor license. Additional restaurants are located within walking distance or a short drive.

UTILITIES: Annual city sewer & water approx. $1,650, Atmos Gas and Wheatland Electric Monthly Average approx. $1,420; annual Hazard & Liability insurance approx. $9,000; 2010 Property Taxes approximately $16,200.

FINANCIAL: Current trailing 12-Month Guestroom Revenue through June 30th, 2011, is approximately $151,000.00 net of Sales & Lodging Taxes. Additionally, the Restaurant Lease brings in $700.00 monthly. This motel offers great potential for higher revenues for a marketing-minded, hands-on, owner-operator.

TERMS: Cash, Conventional, or SBA-504.

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