821 W Highland Ave - Hospitality FOR SALE


Albany, GA 31701
$1,200,000 USD
770-664-9999
821 W Highland Ave, Albany, GA for Sale
$1,200,000 USD
Hospitality - FOR SALE
1/1
null | 13.83% Cap Rate

821 W Highland Ave
Albany, GA 31701


HIGHLIGHTS

  • Yearly sales are expected to generate over $250,000! Motel is newly renovated and recently reopened!
  • Daily rate is $45. The weekly rate is $225. The monthly rate is $800.
  • Net profit before mortgage is over $166,000 per year

OVERVIEW

Yearly sales are expected to generate over $250,000! Motel is newly renovated and recently reopened! The Motel currently has 24 rentable rooms! Downstairs has an additional separate Office and Manager's Living Room and Kitchen onsite! Upstairs, the Manager is occupying 4 rooms for her family. Opportunity to expand to 30 rentable rooms! Daily rate is $45. The weekly rate is $225. The monthly rate is $800. Occupancy rate is roughly 70%. Net profit before mortgage is over $166,000 per year AFTER $24,000 in Manager wages, $23,000 in utilities, $18,000 in insurance, and all other expenses! House next-door to the Motel property is included in the sale! Currently the house is in bad condition and will need to be completely renovated. It is 1,000 sq. ft. with 1 bedroom and 1 bath and a basement! After renovations, Buyer could also rent out the house for $650 per month for additional cash flow!

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$136 USD /SF

# OF ROOMS

31

PRICE/ROOM

$38,710 {currency}

CAP RATE

13.83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,185 SF

ZONING

C3

APN/PARCEL ID

000DD-00007-003

ASK ABOUT THIS PROPERTY

Kavita PurohitRiver BrokersMore Info
770-664-9999

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Kavita PurohitRiver BrokersMore Info
770-664-9999

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