290 N Main St - Hospitality FOR SALE


Robbinsville, NC 28771
$889,000 USD
480-980-5388
290 N Main St, Robbinsville, NC for Sale
$889,000 USD
Hospitality - FOR SALE
1/39
null | Request Cap Rate

290 N Main St
Robbinsville, NC 28771


HIGHLIGHTS

  • Phillips Historic Motel & Cottages is an independent motel operation with spacious management headquarters available on-site for a new owner.
  • Robbinsville is a town in Graham County, where the motel serves travelers, tourists, and motorcyclists.
  • A prime opportunity to acquire a stabilized motel and live on-site with spacious room and bath accommodations.
  • Independent operations enable new ownership to make property and business enhancements when and wherever needed.

OVERVIEW

Phillips Historic Motel & Cottages is a great opportunity for a family wanting to live on the property. The motel property has four buildings. The motel's main building includes the owner's five-bedroom, four-bath house, the reception area, a laundry room, a large basement with an additional laundry, and 12 guest rooms. Building 2 has 3 guest rooms, Building 3 has one large guest room. Building 4 has 5 guest rooms. “Preseason” quick CASH sale price of $839,000*. No owner financing. Please indicate upfront proof of funds and if you are paying “CASH” or planning on using lender financing. Hard to find a better price for this type of well-established property in a high-demand tourist area. *If under contract before May 1, 2025, with proof of funds. The price will increase substantially on May 1, 2025, as the season will have begun. Note: Adjacent to the property are six, 3- bedroom houses on 2 separate tax parcels with commercial zoning. They are currently part of the motel pool, but they are not included in the motel sales price. The six detached homes rent for approximately $200 per night. The 6 houses are valued at over $1m but can be included in this purchase for only an additional $800,000 if purchased at the same time as the motel. Owner may be open to a 1031 exchange for another property of similar value in Arizona, California, Utah, or Colorado, or income properties at or near a ski resort.

FOR SALE DETAILS

PRICE

$889,000 USD

PRICE/SF

$95 USD /SF

# OF ROOMS

21

PRICE/ROOM

$42,333 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Phillips Historic Motel & Cottages

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1963

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1.67 AC

LAND SF

72,766 SF

ZONING

commerical

APN/PARCEL ID

5660-07-04-0005,5660-07-05-0002,5660-12-04-5511-3-0

ASK ABOUT THIS PROPERTY

Conrad GreeneThe Lafayette Group, L.L.C.More Info
480-980-5388

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Conrad GreeneThe Lafayette Group, L.L.C.More Info
480-980-5388

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.