Sperry Van Ness has pleasure to bring to market a 530 room independent hotel & restaurant located within two miles of the world famous Walt Disney World theme park. This opportunity is offered to the highest bidder for LEASE or SALE on a SUBMIT OFFER basis. Fully unencumbered by a Hotel Franchise and Restaurant Franchise and Hotel Management.
The HomeSuiteHome Maingate property at 7300 W. Irlo Bronson Memorial Highway (Hwy 192), Kissimmee, FL includes a 530 room hotel constructed in a resort-type setting with 3 pools, patio area, children’s playground, game room and 2 tennis courts. A restaurant and a cocktail bar. Several units which can be rented to service retailers. A traffic light is located at the entrance of the property for easy access. The irreplaceable high profile location is a landmark and it offers excellent visibility on Highway 192. The hotel serves the economy class budget tourists as well as extended stay guests. It is located close to many chain restaurants and fast foods, shops and many entertainment venues.
The 530 room hotel & restaurant has a gross built up area of 292,450 sq. ft. and sits on over 15 acre site; 7 acres is owned fee simple and 8+ acres is on a long term ground lease with a current rental of $321,000 per year. The hotel is a 2-story, exterior corridor, block construction building which was constructed in three phases built in 1974, 1977 and 1983. The super structure and roof is in good condition. The guest rooms, like all hotels, continue to received an ongoing maintenance program and major renovations as needed by the current owners. The original building was constructed and built as a full service Holiday Inn and traded as Holiday Inn Niki Bird from inception to the date of the sale in May, 2006.
In current owners upon purchase had converted the hotel to an independent brand, HomeSuiteHome. The restaurant is owner-operated and trades as Angels Seafood Feast, and is included in the offering. The prior asking price was $9,900,000. The asset was appraised in December, 2011 in the “AS IS” condition for $7,900,000. The 2011 County appraisal values was $6,454,100 and the real estate property taxes was $71,873.14. The 2011 actual NOI was $552,146 after payment of the ground lease and the projected 2012 NOI is $800,000. The property is zoned as a Planned Commercial Development (PCD) and Future Land Use is Tourist Commercial.
https://www.thehotelinventory.com/hotels-motels-for-sale/florida/homesuitehome-maingate-544/
Post time: Jul-05-2017