A number of internet sites collect and present information about motels for sale and make contacting real estate brokers or property owners easy. Photographs of the building are provided, along with some information about the attractions in the area, the building’s condition, the asking price and other financial information for the business.
Finding a Motel For Sale
Check the International Hotel Brokers Network, which aggregates information from many brokers, focusing exclusively on motels and hotels for sale. There are pictures of the exterior and interior of each motel, along with details about the property, such as recent upgrades, room sizes, beds and furniture, price, and loan data. Also, some information about the location and potential competition in the area is given. By registering with the site you can request more details. Also shown are properties that have sold, giving some sense of market value.
Examine the offerings at Biz Buy Sell, which offers many motels for sale, giving you the asking price, the property’s gross income per year, cash flow, value of the land and the year the business was established. Photos are available, along with details about the views and local area attractions that add value to the property. Number of units; amenities such as pools, hot tubs and cabins; parking; and outbuildings are listed. The seller’s phone number is provided for further details.
Visit Hotels FSBO, meaning For Sale By Owner, for the opportunity to bypass brokers and agents and deal directly with the owner of the property. The site has more photos of the property than other sites and includes details about the rooms, room revenue and total revenue; amenities such as swimming pools, spas, meeting rooms, exercise facilities and laundries; occupancy rates; and finances. Also included is information on the reason for the sale, along with contact information for further inquiries.
Check BusinessBroker.net for hundreds of motel listings, with asking prices listed along with details of the business such as number of rooms, level of maintenance, financing, parking, amount of land, cash flow analysis and revenue. The location is not fully revealed unless you register with the site, in most cases, though brokers or owner’s phone numbers are given.
Search Loopnet.com, which breaks sales down by state, so it is easy to see what is available nearby. Photographs of the outsides of the buildings are provided, with directions and maps to the site. Loopnet also includes court-ordered foreclosures and more information about needed repairs than most sites do.