Motel Property Repurposing/Ground Lease/National Tenant
Hello BP members. I am a newbie poster to this particular site. Thank you in advance for any help. So I recently took over family lodging business. Below are some specs I was able to ascertain:
Land: 14810 SF
Type: Motel
Wall Height 10
Stories: 2
Bldg: 8200 SF
Framing Masonry bearing walls
Exterior Walls Stud -Brick Veneer;
Actual Year Built 1986
Elevator 0
It has been a family run place since its inception, having been reared in the hotel/motel business since age 10. It is with this vast years of knowledge/experience that leads me here. I would like to repurpose the property away from lodging operations which is not a consistent revenue generating proposition and into a long term land-lease agreement from any industry sector company who will use the building/land to fit their needs? I am not looking for a get quick-rich scheme. While I hold a MS in Hospitality, I do not consider myself a business tycoon. I really just do not know where to start. I have sought out non-profits such as SCORE.org and SBDC which led me here. Thank you again.