Business for Sale Overview:
This downtown exterior corridor Motel in a small town in Southern Virginia is priced at $300,000. Potential Gross is about $90,000. Asking price includes 1 acre land with 14 rooms and owner’s quarters. Currently run by an absentee owner. Ideal for a husband and wife team who will improve marketing and live/manage on-site.
Financial Summary projected - Gross Annual sales projected: $90,000; Gross Profit projected: $49,721; ADR: $50; Occupancy projected: 36%.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
Business Information: Owner owns the business since 2003. Qwner has spent about $50,000 in upgrading the property. Run by Manager + 2 part-time employees. Facilities: Property Structure: Effective age - 43 years old. One Floor, Exterior Corridor. Motel structure: 2,944 Sq. Ft.. Separate owner’s quarters and office. Land: 1.02 acre (2 parcels). Utilities: City Water, City Sewer. Assessed Value: $154,600. Location: ½ hour from South Hill, VA. 1 ½ - 3 hours from Richmond and Roanoke, VA and Raleigh, NC.
Market Competition and Expansion:
Prospects for Expansion / Cutting Costs: Implement strong marketing campaign including presence on the web to increase occupancy. Live / Manage on-site.
Reason for Selling:
This property requires a live-in owner.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.