SBA Approved 53 Room Hotel
Location Virginia,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $629000
Net Profit / Cash Flow $59000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2006
Number of Employees 6 - 9
Inventory 50000
Relocatable No
Number of Employees 6 - 9
Real Estate Owned
Training Manager, employees, and will also train.
Reason for Sale Health reasons.
Description Very Successful 53 Room Hotel For Sale - Remodeled - Interior Corridor - close to Beautiful Assateague Beach - Wildlife Migratory Bird Refuge--Immaculate Rooms, with Microwaves, Dryers, Ironing Boards, TV, Direct TV, Outdoor Pool, Screened in Pavillion w/barbecues, fire pits, wash areas for the ''catch of the day'' - Chincoteague Ponies on site, play area for the kids, hamocks under the trees to catch the breeze and enjoy the sounds , also great for weddings, events, etc. - No Restaurant on site..coffee,tea, hot chocolate, vending machines. The Hotel has a fabulous reputation with lots of repeat business.
Price is firm - Only serious inquiries please - this is a seasonal business and area. Financing already in place just waiting for the buyer to put their signature on the dotted line - appraised at $2.8 million - all tests, appraisal, already done - which will save $10,000 - $2.5 million and owner is also willing to finance with $400,000 down. Hurry - the season is starting and future bookings are already in place. Manager and employees will stay on if new owner wants - they are great and very hard workers.
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