2+ acre commercial multi-use property with 11 rental motel rooms, 2 coin operated car wash facilities, one (1) 3,200 sq. ft. steel storage building with two (2) 14' overhead doors, and one (1) 2/2 renovated mobile home. Operations proforma NOI of $180,000 achievable within 90-120 days of acquisition.
Cash flow from 11 room motel (80% - 90% average monthly occupancy), self-serve car wash, automated car wash, and renovated 2/2 mobile home generate in-place NOI of $160,000. Significantly under market room rental rates and car wash automated/self-serve charges can be quickly marked-to-market by new owner for near-term revenue increases. Restored to full-use and marked to existing market rates, this one-of-a-kind mixed use commercial asset provides an impressive 16% cash-on-cash return within 3-6 months of acquisition.
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