20-Rm Motel! Seller Financing Offered! | 2210 S Pine Ave
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20-Rm Motel! Seller Financing Offered! 2210 S Pine Ave
19 Room Hotel Ocala, FL 34471 $1,590,000 ($83,684/Room) 9.97% Cap Rate
Investment Highlights
- 20-Rm Turn-Key Operation
- Seller Financing Offered to Qualified Purchaser
Executive Summary
This offering includes the Ocala Cove 20-RM Extended Stay. There are 19 rental units and on 2-bedroom apartment for an owner occupant or another room that can be rented. Each unit includes a kitchenette making it convenient for patrons needing a comfortable long-term stay. Currently the rent includes monthly collections from tenants averaging $1600. The new owner has an option to collect the Average Daily Rent, possibly earning more revenue.
This offering includes:
• .61-acres
• 20-Unit Motel 7,798 SF (19 Rental Units Plus 1- 2/1 Apartment)
• Built/Renovated: 1958/2013 (Structural includes newer roof)
• Kitchenettes installed in each room (Refrigerator, Sink, Microwave)
• Billboard ($1,351/mo)
• Current Occupancy: 100%
• Current Gross Revenue: $299,546 (Annualized 2024)
• Current NOI: $157,502 (Annualized 2024)
Asking Price: $1,590,000 OBO
Seller Financing: Offered to qualified purchasers. Rate and terms TBD but may include:
• 50% +/- Down Payment
• 5%-6% Interest Only or Amortization Schedule
• 5-10 Year Balloon
This offering includes:
• .61-acres
• 20-Unit Motel 7,798 SF (19 Rental Units Plus 1- 2/1 Apartment)
• Built/Renovated: 1958/2013 (Structural includes newer roof)
• Kitchenettes installed in each room (Refrigerator, Sink, Microwave)
• Billboard ($1,351/mo)
• Current Occupancy: 100%
• Current Gross Revenue: $299,546 (Annualized 2024)
• Current NOI: $157,502 (Annualized 2024)
Asking Price: $1,590,000 OBO
Seller Financing: Offered to qualified purchasers. Rate and terms TBD but may include:
• 50% +/- Down Payment
• 5%-6% Interest Only or Amortization Schedule
• 5-10 Year Balloon
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,590,000 | Building Size | 7,798 SF |
| Price Per Room | $83,684 | No. Rooms | 19 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 9.97% | Year Built/Renovated | 1958/2013 |
| Property Type | Hospitality | Parking Ratio | 3.08/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.61 AC |
| Price | $1,590,000 |
| Price Per Room | $83,684 |
| Sale Type | Investment |
| Cap Rate | 9.97% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 7,798 SF |
| No. Rooms | 19 |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2013 |
| Parking Ratio | 3.08/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 19 | $80.00 | - |
PROPERTY TAXES
| Parcel Number | 30924-000-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $374,360 |
PROPERTY TAXES
Parcel Number
30924-000-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$374,360
zoning
| Zoning Code | B4 (Business Commerical) |
| B4 (Business Commerical) |
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20-Rm Motel! Seller Financing Offered! | 2210 S Pine Ave
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