If Location, Location, Location is the key to success, this is as good a location as you can get! The Cadillac Motel is on a main north/south US Highway, across from a popular Florida State Park, near the Suwannee River, in a small town but a busy tourist destination, close to restaurants and gas stations, and a short distance from a nearby city with a WalMart, fast food restaurants, and shopping. It is also only about half hour from Gainesville, Florida, with its major university, hospitals, and big city shopping.
This is a great owner/operator motel in need of a buyer with vision and energy to make this motel shine again. The Cadillac Motel is a classic old Florida style motel, with drive up to the door parking, simple amenities, and a peaceful atmosphere to make the guest's stay a pleasant one as they visit the state park, go fishing or boating on the river, visit the nearby winery, and relax away from big city pressures.
The seller has added a new outdoor sign, new air conditioners, new carpet, new beds and bedding in the last year or two, but admittedly the motel needs additional cosmetic work and upgrades to compete in today's competitive environment. While some rooms have wi-fi, refrigerators and microwaves and even ceiling fans, a new owner would be wise to bring every room to consistent modern standards and to ensure a bright and attractive curbside appeal, with or without a pool.
This is the type of motel that would be great for an owner/operator or family. It will be bought by someone who understands the beauty of the location and who can bring the motel back to its peak revenues of $245,000 to $265,000. Current revenues in the last several years do not match that, but the location is worth the current asking price for a well-located Florida motel. Call and make an offer today! Seller will consider seller financing with $250,000 cash down.