1600 Shenandoah Ave, Front Royal, VA
Motel for Sale - $1,500,000 - 10,640 Sq. Ft. on 1.46 acres
Property Info
| CIMLS# | 131630 |
| Location 1600 Shenandoah Ave Front Royal VA 22630 | |
| Updated | January 12th, 2011 |
| Type | Motel |
| Price | $1,500,000 |
| Building | 10,640 Sq. Ft. |
| Land | 1.46 acres |
Property Description
Redevelopement Investment Property- Buy & Hold -- 1950 style motel on 1.46+ acre corner lot w 240' road frontage on main throughfare (Routes 522 & 340= Shenandoah Ave.. Zoned retail, office and/ or multi-family. Close to hospital, shopping and Interstate 66 (+/- mile) near I-81. Many opportunities.
Financials
Present NOI $61,700. = 4% Cap
Presently operating at 60% capacity
Present potential Income;
Gross ..................240,000.
Vacancy 5%..............[12,000.]
Effective gross income..228,000.
Expenses .............. 82,300.
NOI ...................$145,700.
9% cap at 1.5M