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 UPFR


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

Views: 7

Attachments:

Reply to This

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service