40+ Unit Ocean Front Motel with Development Lands
Not often will you find 40+ ocean front units in as good of condition as this property, truly set up for the next stage of growth the industry has in store. There are several key aspects of this listing that you’ll learn about upon signing the NDA that will surely provide some confidence to a bright future with this operation.
A few key highlights:
– many important upgrades done over the years, including windows, beds, roofing, heating systems, septic, bathrooms. The units are in very good shape for the intended market and the superstructure has been well cared for.
– Operating from early May – October, with 4 zones of plumbing, allowing for efficient opening and closing as demands changes.
– Much possibility to extend season, as there is a demand
– Rather significant projects happening in close proximity that provide tail winds and future increased demand for this operation.
– 9 staff in rooms operation and 3 required in food service (breakfast only)
For those with a truly entrepreneurial mindset around development, the additional 29 acres of land are sure to make a splash in the market. There are many options, single family, condos, additional rental opportunities, etc. That said, if this is beyond your interest and capability, you don’t need to acquire the additional lands and/or house.
The sale is structured as a sale of 100% of the authorized and issued share capital of the company. By completing the NDA and becoming a qualified buyer, we’ll be happy to send you a full Offering Memorandum that will answer most all of your questions.
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