80 HOTEL ROOM NEW EXPANSION
&
RESTAURANT / BAR CONSTRUCTION WITH ALCOHOL LICENSE
Seeking
$750,000
30 Years Term
12 Month Deferred Payments
None Recourse
1% Fee
Low Interest Rate
Fast Closing
NO UPFRONT FEES OF ANY KIND NONE
152 rooms Hotel in Davenport Florida
90%+ Year round occupancy
Operating two business models
(OP1) daily / weekly hotel business operations
(OP2) Long Term Tenants business with 1 year leases
Approved for conversion to Condo-Hotel
Individual Hotel Condo owners can generate income by renting out their hotel rooms
EXCLUSIVE by Hotel management company
Once converted with new owners income from daily / weekly business pays
75% to the condo owners 25% net to Hotel Management Company
Condominium Declaration states the Hotel Management Co will manage the
Hotel Condo Association for a term of 20 years
All hotel operations expenses are paid by the condo owners
At present the annual income of the (OP1) daily and weekly business is about $900,000 of which
25% or $ 230,000 is paid to Hotel Management Company
The Hotel Manager receives $5,000 monthly = $60,000 per year
Hotel Management Company receives $180,000 net
Hotel was appraised for $8,000,000 Sep 2022 and received $4,000,000 re-financing for existing mortgage
Expansion Construction Plans in place for
A) To expand the hotel by additional 80 hotel rooms
B) To build out the present Breakfast area to a full Restaurant and Bar with full hotel liquor license
Seeking
$750,000
30 Years Term
12 Month Deferred Payments
None Recourse
1% Fee
Low Interest Rate
Fast Closing
NO UPFRONT FEES OF ANY KIND NONE
To be assumed by new Hotel Management Company 50% partner
80 Room Expansion & Restaurant/Bar Construction & Alcohol License use of funds will increase the rental income of the hotel therefore 2025 projections expected a total rental income of (OP1) daily / weekly hotel business operations to increase to $3,000,000+ plus Restaurant/Bar with $1,000,000 per year to projected $4,000,000+ per year
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