St. Petersberg Hotel
Location Florida,United States
Asking Price Range $2.5M - $5.0M
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type EBITDA
Seller Finance Not Disclosed
Year Established 2005
Number of Employees 1 - 3
Inventory 4000000
Relocatable Not Disclosed
Number of Employees 1 - 3
Real Estate Owned
Description Weinberg International Realty has just been contacted by the new owner of what was once the Ramada Inn in Saint Petersburg, FL. In the midst of construction, the Ramada Inn's contractor ran off with the money and left the premises unfinished. The property was bought by new owners, who put in new elevators, plumbing, electricity, etc. At the present time, this property is 75-80% finished. The owners own it free and clear and it was appraised by the court as is at $4 million. The court said that when finished, it will be worth at least $6 million.
The owners are asking $3.3 million for a buyer to take on this project as is. At present there are 110 rooms with an additional 15 rooms planned. The owner estimates it will take $750,000 - $1 million to finish off the work. He estimates the sale price of each room (of the 110 rooms) to be $37,000 a room.
Across the street is the 2nd busiest Cracker Barrel in the country and a Holiday Inn Express is just about to open!
The owners are very eager and pressed to sell.
Do not miss this opportunity to make a significant investment with a $2 million raise in value as soon as it is completed! If you would like me to send you a 3 MB file of the court appraisal, please let me know. Contact for more information on this Hotel business for sale.
Click Here To Contact Seller
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