26 Room Motel On Treasure Island Florida For Sale

195/wk

Cheri-Lyn Motel is a 26-unit exterior corridor motel-resort located in Treasure Island.  The building is a two-story concrete block structure. The total heated building area is 12,000 SF.  Other features include an outdoor swimming pool, sundeck, picnic area, laundry facilities, ice machine, and breakfast area in the main lobby, adequate parking, and nice landscaping.  The pool area is large and can accommodate a fair amount of guest at one time with lounge chairs, tables, umbrellas and Tiki huts for shade.  For guests’ convenience, vending machines are located in the pool area.  The Cheri –Lyn Motel is configured with clean, spacious rooms:
? 3 one bedroom suites with  full kitchen,
? 6 large motel rooms with double beds
? 15 efficiency with kitchen
? 2 units used as owner residence
? Large lobby
All rooms come equipped with coffee makers, hair dryers, irons and ironing boards, and refrigerators. Kitchens are equipped with the necessities.  All rooms have cable TV.  
Two of the units have been converted into owner’s apartment with two bedrooms, two bathrooms, full size kitchen, living room and a private laundry room.
Some of the recent improvements include updated a/c, new carpet, and 7 years old roof.

Growth Potential:

Huge

Training/Support:

for one month

Seller Financing:

6 % interest only ,5 years baloon

Sale Reason:

Retr.