Recently Shutdown Motel Property in Cave Spring near Rome, GA! Zero Competition!
Recently Shutdown Motel Property in Cave Spring near Rome, GA! Zero Competition!
Price: $699,000
Industry: Hotels, Motels
Motel Property Highlights:
Rentable Rooms: 28
Historical Occupancy Rate: 65%
Historical ADR: $50 daily rate and $300 weekly rate.
Acres: 0.75 +/-
Included with the property is a 2,200 sq ft apartment! Apartment has 3 bedrooms and 3 bathrooms! Includes a kitchen, office, and living room! Also includes a 700 sq ft storage room!
Yearly Revenue was $311,000 on the 2022 Tax Return!
Property shutdown in February of this year because multiple pipes burst during the winter freeze. City is requiring that certain electrical and plumbing upgrades be done to the property. The estimate to renovate the property is $300,000.
Seller has a roofer who is willing to install a brand new roof for $30,000! Buyer can opt for a brand new roof upon purchasing the property!
Zero competition!
Georgia Power Plant is only 10 miles away and contractors come to stay in the motel! February, March, and April months are busy with Georgia Power customers!
1h 30 min from Atlanta, GA! Only 20 min from Rome, GA! 15 Minutes from Cedartown, GA! 1h 30 min from Chattanooga, TN!
Major summer tourism with the motel within walking distance from Rolater Park and Lake, Cave Spring park, and Cave Spring Veterans Memorial park!
Nearby restaurants such as Local Joe's, Southern flavor, Linde Marie's Steakhouse on the Square, A&B Creekside Restaurant!
13 Miles from Wallace Field Airport and Polk County Airport!
Asking Price for the Property is only $699,000!
Another shutdown motel property is available in Piedmont, AL just 22 min from this motel!
If interested, please call or text us anytime at (770) 664-9999 or email your full name and best contact number to info@riverbrokers.com
Gross Revenue: $311,000