Stars Rest Inn - Downtown 510 Lane Ave S, Jacksonville, FL 32254

Transcription

1 Stars Rest Inn - Downtown 510 Lane Ave S, Jacksonville, FL Arun Kaushal Das Financial Inc 510 Lane Ave S,Jacksonville, FL aaronkosal@yahoo.com (904)

2 Stars Rest Inn - Downtown Price Not Disclosed Sales $ 2.86 Million with Net Operating Income $1.08 Million. Former Ramada Inn,now running as an Independent Full Service Hotel with Full size Pool with Gazebo,Sports Bar and Grill,Fitness Room.Hotel is generating good cash flow and owner has invested more than $ in renovating the property. Hotel has already been divided in 2 parcels,smaller west side parcel may be converted to a new Independent/Franchisee Hotel and better ADR be generated on 77 Rooms Hotel.Owner has already started the process of constructing a separate Front Office for it.main Hotel of 129 Rooms may run an an independent or converted to a different franchisee too. Price: Price Not Disclosed Property Type: Hospitality Property Sub-type: Hotel Building Class: C Sale Type: Investment Lot Size: 5.16 AC Building Size: 94,321 SF Sale Conditions: Business Value Included Average Daily Rate: 54 RevPAR: 33 No. Rooms: 203 No. Stories: 2 Year Built: 1969 This unique investment opportunity includes a Motel, and Sport Bar n Grill conveniently located near Interstate 10 with ample parking for tractor trailers. This property offers nightly rates to Truckers,Contractors,Tourists,Business Travelers and locals seeking affordable options with close proximity to the downtown Jacksonville area. An MSA which has seen explosive growth over the past decade, Jacksonville has become known as a destination city with premier business,sea port,cultural and recreational demand drivers. The multi-use site presents a rare opportunity to acquire an asset with multiple revenue streams with in-place operational efficiencies and various rental options.jacksonville is the most populous city in the U.S. state of Florida and the largest city by area in the contiguous United States,also the most populous city in the southeastern United States MSA has a population of 1,631,488.Harbor improvements since the late 19th century have made Jacksonville a major military and civilian deep-water port. Its riverine location facilitates Naval Station Mayport, Naval Air Station Jacksonville, the U.S. Marine Corps Blount Island Command, and the Port of Jacksonville, Florida's third largest seaport.jacksonville's military bases and the nearby Naval Submarine Base Kings Bay form the third largest military presence in the United States.Significant factors in the local economy include services such as banking, insurance, healthcare and logistics. As with much of Florida, tourism is also important to the Jacksonville area, particularly tourism related to golf,beaches & St. Augustine.Jacksonville is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: CSX Corporation, Fidelity National Financial, Fidelity National Information Services and Southeastern Grocers.Interline Brands is based in Jacksonville and is currently owned by The Home Depot.The Florida East Coast Railway, Swisher International Group and the large short line railroad holding company RailAmerica are also based in Jacksonville. Parking Ratio: Corridor: 2.54/1,000 SF Exterior Grossing $2.86 Million,Net Operating Income $ 1 Million plus Located close to Downtown Jacksonville,Right on I-10 & 295 ( 1 mile) High Visibility,Easy in Easy out Only Hotel in Town where 40 Trucks can be parked

3 Unit/Room Mix Information Description No. Rooms Avg. Daily Rate KIng 62 undefined Queen 40 undefined Double 80 undefined Suites - 2 Room 12 undefined Mini Suites 6 undefined Major Tenant Information Tenant SF Occupied Lease Expired Cosmos Hospitality Inc - Stars Rest Inn 94,320 Zodiac Inn Inc -

4 510 Lane Ave S, Jacksonville, FL 32254

5 FD lounge Front Desk

6 Pool Double Bed

7 Double Bed Room

8 Queen Bed King

9 King King

10 KIng Pool Room

11 Pool Tables MWF

12 Rockie Security Exit Sign (229x216)

13 Bar Sign Kitchen Open

14 Dart Machines Karaoke

15 happy hour Gym

16 Jumbo Screen Dart Machines

17 Calender Bar Main

18 Live Band playing Exterior Building

19 Exterior Exterior

20 Exterior