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E-mail: aturowski@ccim.net | Alex Turowski, CCIM |
| (727) 224-1317 |
| Type of Property: Motel | |||||||
| Poperty name: Lamara Motel | |||||||
| Property Address: 520 73rd Ave St. Petersburg Beach, FL 33706 | |||||||
| The Lamara Motel is located just west of Gulf Blvd. and fronts on two streets 73rd Ave and 72nd Ave. All rooms are in better then average condition and all have kitchens. The motel is within walking distance to shopping and beautiful main beach. | |||||||
| Price: | 799,000 | |||||
| Total Units: | 18 | |||||
| Type of Units: | 8-1 bedroom; 10-Studios (two studios are for private use only) | |||||
| Room Entrances: | Exterior | |||||
| Gross Building Area: | 9,988 SF | |||||
| Heated Building Area: | 8,137 SF | |||||
| Pool | Heated / Inground / Concrete | |||||
| Lot Size: | 19,323 SF | |||||
| Exterior Walls: | Block/Stucco | |||||
| Annual Property Operating Data (Projected) | ||||||||||||||
| ALL FIGURES ARE ANNUAL | COMMENTS / FOOTNOTES | |||||||||||||
| POTENTIAL RENTAL INCOME | 496,400 | TOTAL UNITS: 16 | ||||||||||||
| Less: Vacancy & Cr. Losses | 258,128 | AVERAGE DAILY RATE: $85 | ||||||||||||
| EFFECTIVE RENTAL INCOME | 238,272 | VACANCY RATE: 52% | ||||||||||||
| Plus: Other Income (collectable) | ||||||||||||||
| GROSS OPERATING INCOME | 238,272 | |||||||||||||
| OPERATING EXPENSES: | ||||||||||||||
| Real Estate Taxes | 13,377 | |||||||||||||
| Property Insurance | 13,000 | |||||||||||||
| Cleaning Maids | 24,000 | |||||||||||||
| Bank Credit Card Charges | 2,500 | |||||||||||||
| Repairs and Maintenance | 6,000 | |||||||||||||
| Cable TV | 4,000 | |||||||||||||
| Phone | 4,000 | |||||||||||||
| Electric | 17,000 | |||||||||||||
| Water/gas/Trash | 9,000 | |||||||||||||
| Accounting and Legal | 1,200 | |||||||||||||
| Licenses/Permits | 600 | |||||||||||||
| Advertising | 5,000 | |||||||||||||
| Supplies | 6,000 | |||||||||||||
| TOTAL OPERATING EXPENSES | 105,677 | |||||||||||||
| NET OPERATING INCOME | 132,595 | |||||||||||||
| Annual Property Operating Data (Actual) | ||||
| ALL FIGURES ARE ANNUAL | ||||
| GROSS OPERATING INCOME | 134,400 | |||
| OPERATING EXPENSES: | ||||
| Real Estate Taxes | 13,377 | |||
| Property Insurance | 13,000 | |||
| Cleaning Maid | 12,000 | |||
| Bank Credit Card Charges | 2,500 | |||
| Repairs and Maintenance | 6,000 | |||
| Cable TV | 4,000 | |||
| Phone | 4,000 | |||
| Electric | 17,000 | |||
| Water/gas/Trash | 9,000 | |||
| Accounting and Legal | 1,200 | |||
| Licenses/Permits | 600 | |||
| Advertising | 5,000 | |||
| Supplies | 6,000 | |||
| TOTAL OPERATING EXPENSES | 93,677 | |||
| NET OPERATING INCOME | 40,723 | |||
The statements and figures herein while not guaranteed are secured from sources we believe authoritative.
