27-Rm Motel With Restaurant For Sale! | 16872 SE Highway 19
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27-Rm Motel With Restaurant For Sale! 16872 SE Highway 19
25 Room Hotel Cross City, FL 32628 $3,555,000 CAD ($142,200 CAD/Room) 5.74% Cap Rate
Investment Highlights
- TURN-KEY OPERATION! NO CAPX
- NEW PLUMBING INSTALLED
- ROOF: 2 YEARS OLD
Executive Summary
This offering includes the Carriage Inn 25-RM motel. There are 27 units and 2 apartment units for an owner occupant/manager, or rental units. This property also includes a 4896 SF “leased” full-service restaurant bringing in a steady annual income. The motel has a steady amount of business maintaining an average 70% occupancy.
The owner is located too far away from this motel and is no longer interested in running it.
This offering include:
• 1.44-acres
• 25-Unit, 2-Story Motel 12,016SF (24 Rental Units Plus 1 Apartment)
• Built/Renovated: 1961/2020
• Roof: 2 Years Old – New Plumbing
• Restaurant (4896 SF) Built/Renovated: 1961/1991
• In-Ground Pool
• Parking: 50+/-
• AADT: 20,313
• Average Annual Occupancy: 70%
• Current Gross Revenue: $273,783 (Room Rental)
• Restaurant Lease: $25,680/an (Year-to-Year Lease)
• Total Gross Revenue: $299,463 (2023)
• Current NOI: $143,572 (2023)
The owner is located too far away from this motel and is no longer interested in running it.
This offering include:
• 1.44-acres
• 25-Unit, 2-Story Motel 12,016SF (24 Rental Units Plus 1 Apartment)
• Built/Renovated: 1961/2020
• Roof: 2 Years Old – New Plumbing
• Restaurant (4896 SF) Built/Renovated: 1961/1991
• In-Ground Pool
• Parking: 50+/-
• AADT: 20,313
• Average Annual Occupancy: 70%
• Current Gross Revenue: $273,783 (Room Rental)
• Restaurant Lease: $25,680/an (Year-to-Year Lease)
• Total Gross Revenue: $299,463 (2023)
• Current NOI: $143,572 (2023)
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,555,000 CAD | Building Size | 29,909 SF |
| Price Per Room | $142,200 CAD | No. Rooms | 25 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 5.74% | Year Built/Renovated | 1961/2021 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 4.53/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.44 AC | Opportunity Zone |
Yes
|
| Price | $3,555,000 CAD |
| Price Per Room | $142,200 CAD |
| Sale Type | Investment |
| Cap Rate | 5.74% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.44 AC |
| Building Size | 29,909 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2021 |
| Tenancy | Single |
| Parking Ratio | 4.53/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- Pool
- Restaurant
- High Speed Internet Access
- Outdoor Pool
- Public Access Wifi
- Smoke Detector
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 25 | $137.93 CAD | - |
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PROPERTY TAXES
| Parcel Number | 09-10-12-2144-002-40010 | Improvements Assessment | $684,773 CAD |
| Land Assessment | $193,996 CAD | Total Assessment | $878,769 CAD |
PROPERTY TAXES
Parcel Number
09-10-12-2144-002-40010
Land Assessment
$193,996 CAD
Improvements Assessment
$684,773 CAD
Total Assessment
$878,769 CAD
zoning
| Zoning Code | C-2 (General Commercial) |
| C-2 (General Commercial) |
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27-Rm Motel With Restaurant For Sale! | 16872 SE Highway 19
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