Number of Rooms: 50
Number of Stories: 2
Building Area: 15,880 s.f.
Corridors: Interior and Exterior
Lot Size: 5.43 ± acres
Year Built: 1972
Amenities: Microwave in every room, restaurant (leased)
Restaurant Lease: Lease started March 1, 2018 and runs until March 31st, 2019. Minimum annual rent $18,000.00 ($1,500.00/month) plus 5% of annual gross food sales in excess of $367,500.00. Lessee is responsible for all interior and exterior maintenance, real estate taxes, utilities, and insurance.
Real Estate Taxes: Annual real estate taxes are $13,501.00 of which the restaurant pays about 30% or $4,050.00.
Financial Statements: The financial statements show an expense item for lease, this payment is made to the owner. This expense will go away upon a sale.
Management: Absentee Management.
Seller Financing: Seller will finance a qualified Buyer with 20% downpayment, 7.5% interest rate, 20 year amortization and a full balloon payment in 3 years.
Travelodge PIP: A PIP from Travelodge has been done which is attached. There is no obligation to convert the property to a Travelodge. This was simply done to give an indication of the condition of the property.
Financial Information: Download PDF (Registered Users Only)
275 South Whitewoman Street,
- Price: $400,000
- Phone Number: 937.438.6700 ext. 1