Remarks

Great location for a very safe investment property, Gross Income over $1.5 Million in 2024, after expenses you get $930,000 dollars, a nice CAP of 7.5% in the cash-to-cash approach. Please do not go without coordinating with listing agent or owners. Do not talk to employees. This is a gold mine, and the seller already got the final approval for a brand new 4 story building, with 88 new keys & 100 parking spaces, add 7,000 Sq Ft of commercial use space for restaurant, coffee shop, etc. NDA is mandatory to get financial information and coordinate inspections. Fast closing desired. Send LOI as soon as possible to listing agent. The cash is there and all the tools for an amazing investment, or perhaps a joint venture may be possible. Marriott Residences are waiting for the new developers.

Details

MLS#: F10491315
Price: $12,500,000

Style: Commercial/Industrial,Hotel
Year Built: 1982

Tax Fee: 24000