Seventeen Unit Motel In Upstate New York For Sale

Business description

MOTEL BASIC INFORMATION: 2007 Gross Income: $192,000. - Net Income: $113,000. Hilltop location (2,000' elevation) with a beautiful view of the Southern Tier Currently 17 Units - with room for expansion Wood frame construction with ground level rooms Located on 2.442 Acres of land well and septic system Built in 1954 Two Bedroom Owner's Apartment On-going renovations In excellent condition Great opportunity for a family to run a turn-key business Includes ownership of computer compatible PBX with direct dial and call accounting system, credit card terminal with printer. commercial satellite system for TV's with remotes and VCR's in each room, with large inventory of complimentary movies for guests. The motel has an average annual occupancy rate of 55%, with many repeat business guests. The Owner's/Manager's 2-bedroom apartment is located next to the lobby area and includes a kitchen and living room.

Property information

Real Estate:

Real Property Included

Living accommodation:

2-Bedroom apartment with living room and kitchen, located just off from the office area.

Location:

Located in a small town (Wellsville) in Allegeny County, in upstate New York

Other information

Expansion potential:

There is a six-apartment income property next door to this property that is also for sale.

Competition / Market:

Trere are some other motels in the area.

Support & training:

Sellers will train the new owners prior to the closing of sale and after financing has been approved.

Reasons for selling:

Sellers have purchased a 70-Unit Franchised Hotel in another state.

Trading hours:

24x7

Furniture / Fixtures value:

$50,000 (included in the asking price)

Inventory / Stock value:

$1,000 (included in the asking price)