290 N Main St - Hospitality FOR SALE


Robbinsville, NC 28771
$998,999 USD
480-980-5388
290 N Main St, Robbinsville, NC for Sale
$998,999 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. Busy Season Pricing with cash flow. Price with Seller Financing (SF): $998,999 with $600,000 down, SF balance @ 6% I.O. for 5 years.or Cash Price: $898,000. It's hard to find a better price for this type of well-established property in a high-demand tourist area. Additionally, there is the possibility of manufacturing coming back to the area. Any contracts provide proof of funds. 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 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 simultaneously with the motel. The 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. Buyers and Buyers' Agents are to confirm any and all information they may deem material to their decision-making. Seller is making no warranties or guarantees and the property is being sold "AS IS".

FOR SALE DETAILS

PRICE

$998,999 USD

PRICE/SF

$107 USD /SF

# OF ROOMS

21

PRICE/ROOM

$47,571 {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.