By: Elaine VonCannon, ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER, AWARD WINNER, RE/MAX Hall of Fame
Grundy, Virginia, AFFORDABLE HOTEL WITH A 9 CAP RATE, FOR YOU TO OWN! Owner Financing! Located in Grundy,Virginia this 38 room motel. Offered $485,000 at which is the current appraised value (done Feb. 2009). Situated on approximately 1.33 acres, 13,980 square, Situated near Law School and Pharmacy School. This property generates gross 125,250 annually. Net Gross is 43,288 annually. This property has a history of a great cash flow! A GREAT INVESTMENT AND A GOOD CANDIATE FOR A 1031 TAX EXCHANGE OR CONDO CONVERSON AS THERE IS LITTLE OFF CAMPUS HOUSING. THIS IS A REAL MONEY MAKER!
Location is: 19587 Riverside Drive Grundy Va...............24914
Offered at: $350,000
Current room rentals are: 19 Double rooms at $53.39 a day. ......10 Singles at $42.69..............2 Deluxe Singles at $47.08.........6 Kings at $53.39 a day.......1 Suite at $60.00 a day.
MLS #:
| Anchor Inn in Grundy Virginia, Owner Financing Possible, Wonderful Investment! |
Price:
| $350,000.00 |
Type:
| Commercial Properties |
Area/County:
| South West Virginia |
Address:
| 19587 Riverside Drive |
City:
| Grundy |
State/Zip:
| VA/24914 |
Bedrooms:
| Motel.......38 rooms |
Bathrooms:
| 40.....plus 2 public restrooms |
Elaine is a published author on real estate both commercial, residential and property management. Her articles are on her web sites for you to read and enjoy.
Visit my web sites to view other listings at www.voncannonrealestate.com www.elainesrealestateinvirginia and www.estatesinvirginia.com You will also find articles and more information on homes, the Virginia real estate market and my team.
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Great looking opportunity. The area looks wonderful. The potential for this investment to be successful looks really good.
Betty