13 Units Motel - DeLand, FL/ Value Add/ 13% Proforma Cap/ off-market

[Dimitra Manou]

Price $950k

Rehab $150k

Motel Value-Add Deal!

14/13, 4685 sq ft

1954 build

0.82 acres lot

Proforma NOI $130,454.4

Proforma Cap 13.05%

Features

4 buildings total

12 rooms total and a 2 bedrooms owner’s suite

Currently, there are 7 rentable rooms with a mix of single or double-occupancy options

The other 5 rooms require updates to make them rentable

Operate the motel as a weekly rental on a conservative $350/week with a 10% vacancy accounted

PROFORMA

VALUE ADD - Repair and rent the last 5 units that need repairs

Monthly rent $16,380

Annual insurance $7,500

Annual taxes $7,500

Monthly PM fees (6%) $983

Monthly maintenance (10%) $1,638

Vacancy rate 10%

NOI $130,454.4

Cap 13.05%