25-Rm Motel & 17-Unit Apartments 2803 US Highway 27 S

This offering combines three contiguous properties (3.17-aces) that currently has an operating 17-Unit apartment complex and a 25-Rm Motel. The apartment complex is fully occupied almost 100% of the time, with good quality tenants who pay their rent on time. Tenants are offered 6-month to 1-year lease terms.   
Currently, there is one vacancy and two evictions that are almost completed.
This Property:
17-Units Apartments
2-Buildings (9,672 Htd SF)
Laundry Building (currently not in use)
1.26-acres MOL (2 Separate Parcels)
20-/+ Parking Spaces
Newer Roof – 3 years old Standing Seam Metal Roof
 Note: This apartment complex can be combined with the 25-Rm Budget Inn to make a 42-Rm motel.
Also located within “The City on The Circle”, is the 25-Rm Budget Inn Motel. Both the motel and apartment are surrounded by boutique and gallery shopping, fine dining, plenty of golf courses and beautiful parks, to include the famous Highlands Hammock State Park, offering camping, hiking, fishing, bike/horse trails.
This Property:
24-Motel Rooms
Managers Apartment: 2-Bdrm/2-Bth, Full Kitchen, Living Room w/Fireplace
3-Buildings (8,835 Htd SF)
Year Built: 1952 Effective: 1986
1.91-acres MOL
27-/+ Parking Spaces
42,500 AADT
Zoning: C-1 Commercial
Proposed Development – Combined contiguous properties offer 3.17-Acres MOL for development. C-1 Commercial zoning permits several types of developments. The development of an 80-Rm mid-level hotel is used the attached Investor Report.
80-Hotel Rooms
2-3 Stories/36,000-40,000 SF