An enormous upside opportunity is now available with these 39 units! Equitypro presents these extended-stay motels located in Northeast Florida, and only 40 minutes from Jacksonville.

This opportunity has two locations, one with 20 units and the other with 19 units.  These properties are located on busy US Highway 1 and consist of 37 efficiency units, 3 apartment units, as well as 2 restaurant spaces.  Nightly room rates average $65-$85, however, most occupants rent these units weekly for $270-$280, and the apartments rent for $450-$500 per week. Even with limited management and deferred maintenance, the current occupancy rate hovers around 60%, on average, thus leaving some valuable, value add!

We recommend utilizing one of the apartments as an on-site manager's suite, making improvements to the grounds and interiors, and renting the restaurant spaces for additional income.  We anticipate an approximate 17% yield once weekly rates are raised to $250-$260 and the restaurant is rented at $2000-$3000 monthly. In addition, this portfolio sale also includes an adjacent, vacant 1.78-acre lot that can help further increase cash flow. Furthermore, the current owners have a proposed layout for a 16-pad RV parking, yet with its location and right vision, there still exists additional exit strategies.

Once stabilized, we estimate a market cap rate value of $3,000,000!  This would be an ideal investment to close out your 2023 and potentially minimize your taxable income by writing off the depreciation.  At less than $45k per door, we are anticipating a substantial response to this opportunity. Out of two motels the one motel has a two rooms damaged by smoke & by electric short circuit.

Now is a perfect time to turn your real estate investment dreams into reality. Contact your EquityPro Advisor today to schedule a tour, and explore the possibilities that await you at this unique Motel Package!