DESCRIPTION:
– The subject property currently consists of a full service 138 room.
(Main building: 67, Lodge: 35 with Kitchenette, West Wing :36).
– The total number of Kitchenettes are 60 rooms(1 in Inn, 23 in Lodge 36 in Eagle 3) , and 18 kitchenettes are all the time occupied by the emergency medical & Safety crew.
– There are a lot of demands of the kitchenette in this town.
– With many rooms and a lot of kitchenettes hotel, so it has many advantages when dealing with a large oil industry company.
– Leased restaurant, Lounge (4 VLT) and Liquor store.
– Coin Laundry (Washer 7, Dryer: 8) income is about $50,000/Year
LEASE DETAILS:
– Restaurant & Lounge: $300,000 including utility and will be renewed in 2023 for another 5 years.
– The rent fee will go up when the number of VLTs increases and one more VLT is expected in 2023.
– Liquor store: $60,000 including utility and the term is till 2024.
– All of FF& Equipment are owned by the landlord.
SITE AREA: 4.23 Acres
ZONING: Highway Commercial District
REVENUE (Fiscal year November 30 )
2022: $4,183,725 (Room: $3,8454,378, Rental: $296,732, Others: $296,732)
Note : This is for 11 months from December 1 , 2021 to October 30, 2022.
NOI $13,950,000 2022 :$1,675,395