- REVENUES NOT Affected by COVID-19
- 13.73% Cap Rate
- Extremely high occupancy rate
General Information:
-Website: www.theranchsuites.com
-17 Total Units
- 10 suites include 1 queen bed, 1 fold out, full size kitchen, and living area (Of these 10 suites, 2 of those are in a separate duplex building and 1 is in a single detached suite by itself)
- 4 suites with 2 beds, full size kitchen and living area
- 2 Studios include 1 queen bed, mini fridge, microwave, and coffee maker
- 1 Manager Suite w/private garage, full size kitchen, laundry, living area and backyard
- Improvements:
- Numerous small updates September, October, November, and December 2020 (New HW heater, painted baseboards, trim, and doors in rooms, painted walkways, trim outside, gutters etc.)
- Installed new flooring in 1 suite October 2020
- Installed new flooring in 4 suites July 2020
- Redid parking March 2020
- Added additional 250 bales of insulation to all attic space for reduced electric bills (R-30+ value) in November 2019
- Replaced roof on duplex November 2019
- Installed new security camera system June 2019
- Repainted decks and fence March 2019 and November 2020
- Poured new concrete walkway, Installed new siding and added electric to back deck March 2019
- New landscape lighting 2018
- Highlights:
- FANTASTIC full time manager for past 4 years
- Manager is flexible and willing to stay or leave depending on new owner's wishes
- Motel could be owner managed if desired and new owner would have higher net return/revenue with 16.4% cap
- Owner and manager willing to train new owner and replacement manager if necessary
- LOTS of repeat customers for years (despite several rate increases)
- Property highly maintained and consistently/constantly updated.
- Reviews and Awards:
- Winner of best hotel/motel for the Cedar Creek Lake Area 2019, 2020, & 2021
- Highest rated hotel/motel in Cedar Creek Lake area based on various internet platforms
- 4.5 stars on Google
- 9.6 star rating from booking.com and preferred place to stay for the area on booking.com (booking.com sends guests to The Ranch Suites over competitors)