Business Overview
About the Company
ABOUT THE LISTING
For sale is a well-maintained, full-service, non-franchised hotel that consists of 138 rooms: main building, 67; lodge, 35; other, 36.
The total number of rooms with kitchenettes is 60, 18 of which are occupied full-time by long-term emergency medical & safety crews. In this town, kitchenettes are in high demand. This business has several advantages as it operates in a high-traffic area.
Included in the business are:
• Leased restaurant, lounge (with 4 VLTs), and liquor store.
• Coin laundry (with 7 washers and 8 dryers) with an income of $50,000/year.
The sale is structured as an Asset Sale. Working Capital shall be adjusted at $0. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a Full offering memorandum that will answer most, if not all, of your questions.
FINANCIAL INFORMATION
Annual Revenues and Net Operating Income:
2022 (accounting for 11 months YTD financials)
Revenue: $4,183,725
NOI: $1,675,395
2021
Revenue: $3,246,089
NOI: $1,439,978
2020
Revenue: $1,515,299
2019
Revenue: $2,496,828
NOI: $675,934
2018
Revenue: $3,253,670
NOI: $1,259,491
REAL ESTATE
Lease details:
The restaurant's lease is at $300,000 including utilities and will be renewed in 2023 for another 5 years. The rent fee will go up when the number of VLTs increases and one more VLT is expected in 2023.
The liquor store's lease is at $60,000 including utilities and the term is until 2024.
All furniture, fixtures, and equipment are owned by the landlord.
For more information on this listing, please complete our Non-Disclosure Agreement
