Grundy, Virginia, AFFORDABLE HOTEL WITH A 9 CAP RATE, FOR YOU TO OWN!Owner Financing

By
Real Estate Agent with Coldwell Banker Traditions

By: Elaine VonCannon, ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER, AWARD WINNER, RE/MAX Hall of Fame

Grundy, Virginia, AFFORDABLE HOTEL WITH A 9 CAP RATE, FOR YOU TO OWN! Owner Financing! Located in Grundy,Virginia this 38 room motel. Offered $485,000 at which is the current appraised value (done Feb. 2009). Situated on approximately 1.33 acres, 13,980 square, Situated near Law School and Pharmacy School. This property generates gross 125,250 annually. Net Gross is 43,288 annually. This property has a history of a great cash flow! A GREAT INVESTMENT AND A GOOD CANDIATE FOR A 1031 TAX EXCHANGE OR CONDO CONVERSON AS THERE IS LITTLE OFF CAMPUS HOUSING. THIS IS A REAL MONEY MAKER!

Location is: 19587 Riverside Drive Grundy Va...............24914

Offered at: $350,000

Current room rentals are: 19 Double rooms at $53.39 a day. ......10 Singles at $42.69..............2 Deluxe Singles at $47.08.........6 Kings at $53.39 a day.......1 Suite at $60.00 a day.

MLS #: Price: Type: Area/County: Address: City: State/Zip: Bedrooms: Bathrooms:
Anchor Inn in Grundy Virginia, Owner Financing Possible, Wonderful Investment!
$350,000.00
Commercial Properties
South West Virginia
19587 Riverside Drive
Grundy
VA/24914
Motel.......38 rooms
40.....plus 2 public restrooms

Elaine is a published author on real estate both commercial, residential and property management.  Her articles are on her web sites for you to read and enjoy.

Visit my web sites to view other listings at www.voncannonrealestate.com www.elainesrealestateinvirginia and www.estatesinvirginia.com You will also find articles and more information on homes, the Virginia real estate market and my team.

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Tags:
owner financing
grundy va
motel
38 rooms
1031 candiate
investment opportunity in virginia
for sale
lots of parking
established

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Rainer
69,662
Bill Nazur

Interesting....while we have no intention on moving out to Virginia, my career in finance started in the hotel industry, so I always have that 'butterfly in my stomach' feeling when I see something with potential.

Best of luck on the sale!

November 08, 2009 01:29 PM
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jason carter

yes i would like to receive more info on this property please thank you! my number is 678-698-6315

November 28, 2009 02:57 AM
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Elaine VonCannon

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Additional Information

My blogs reflect my observations on life, real estate and my own state of the union (Elaine's world). I write my entries as a way to express myself and all the positive and negative aspects of real estate. I also use it to promote my listings and maybe even your enjoyment in reading it.