REDUCED 74 Room Motel for Sale

Hospitality for Sale
Catylist Listing ID: 29924752
Property Subtypes: Motel
Number of Units: 74 Units
Building Size (RSF): 40,000 SF
Gross Building Area: See Agent
Sale Price: $1,550,000
Unit Price: $20,945.95 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/14/2017

Overview / Comments

CONFIDENTIAL LISTING: DO NOT DISTURB BUSINESS OPERATIONS ONSITE. ALL INQUIRIES TO BE THROUGH LISTING AGENT ONLY

Location: Located in the heart of Bogalusa, LA in Washington Parish. Bogalusa, LA has a population of 12,032 (2010 census) and is the location of the International Paper Mill and the Northshore Technical Community College. Bogalusa is in the New Orleans Metropolitan statistical area population of 1,452,502 people (2010 census).
Property
Description: The buildings are of metal, masonry and wood frame construction in good condition. The guest rooms are accessed via exterior covered walkways. The rooms are equipped with flat screen TV’s, desk & sitting areas, microwaves and small refrigerators. They are heated & cooled by individual wall units. New mattresses and bedding has been recently purchased for the rooms. The property has been well maintained & guest rooms have been upgraded regularly.

Building Area: 40,000 +/- square feet consisting of 1,328 square feet of office/lobby area and a 10,000 sq. ft. restaurant in need of renovations with the balance being the 74 rooms and miscellaneous maintenance and storage areas. The guest rooms are approximately 380 sq. ft. each with 4 of the rooms being suites with additional square footage.

Land Area: 8.334 acres (plot plan available). Excess land allows for expansion or future development.

Sale Price: Reduced to $1,550,000.00 (Business financials available at owner’s discretion upon signed C.A.)

Additional Details

Nearest MSA: Bogalusa
County: Washington

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,046 7,829 18,819
Median Age: 35.62 38.15 39.61
Households: 1,645 3,178 7,602

Contact

Photograph of Listing Agent

A Benjamin Derbes

Max J Derbes Inc New Orleans, LA 70123-3229
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