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10953678
10953670

6200 Melton Rd, Gary, IN 46403 For Sale

JM
IN INDIANA | RB14051634
EXP Commercial
Listed by EXP Commercial
$3,500,000
1183 days on market
Updated 89 days ago

Miller Beach Motel/Hotel

Details
APN DUNES HY-WAY RLTY. CO'S. 2ND SUB. ALL OF LOTS 1 TO 17 BL.J & VAC. ALLEY ADJ.
Property Type Hospitality
Sub Type Hotel, Motel
Square Footage 39,712
Keys 113
NOI $624,986
Price per SqFt $88
Broker Co-Op Yes
Year Built 1960
Year Renovated 2010
Buildings 2
Stories 2

Hotel | Motel | Multifamily | Resort

Marketing description

SELLER SAYS BRING ALL OFFERS!!!

Welcome to Mosley Motel, located in the charming town of Miller Beach, Gary, Indiana. This property is a rare opportunity for those seeking an extended stay hotel in a prime location. The Mosley Motel boasts 113 keys, providing ample space for guests looking to stay for a night, a week, or even longer.

One of the significant advantages of this property is that it is not associated with a brand or flag, providing potential buyers with a unique opportunity to create a personalized experience for their guests. The property features a spacious recreational area, perfect for guests to unwind and relax during their stay.

Another significant advantage of the Mosley Motel not being associated with a brand or flag is that it currently has no Property Improvement Plan (PIP) requirements. This means that potential buyers have the freedom to make their own upgrades and renovations to the property without being constrained by brand standards or mandatory improvements. This flexibility can save buyers time, money, and hassle, as they can customize the property to meet their specific needs and vision.

One of the most significant advantages of this property is its strategic location, just two miles from Marquette Beach Park and Lake Street Beach. These pristine beaches attract thousands of visitors each year, making the Mosley Motel an ideal location for travelers looking for a comfortable place to stay.

In addition to the excellent location, potential buyers will appreciate the property's current zoning, which allows for a range of exciting opportunities. While we cannot list specific potential uses, we encourage buyers to explore the various options available to them.

Please note that there are no STR or statistic reports available for this property. However, occupancy and P/L reports will be provided to serious buyers.

In summary, the Mosley Motel presents an incredible opportunity for those seeking to invest in an extended stay hotel in a prime location. With its versatile zoning, proximity to beaches, ample space for guests, and flexibility to customize without brand constraints, this property is sure to attract a range of interested buyers.

Investment highlights

This hotel is not associated with a flag, no STR reports or statistic reports exist. P/L report can be supplied upon signing of CA agreement. Please take the time to understand the value and potential of this deal before reaching out and inquiring.

All financials are for pro-forma use only: Receiving Party acknowledges that the Confidential Information provided by Disclosing Party is for pro-forma purposes only and is not intended to be relied upon as a representation or warranty of the current financial condition or performance of Disclosing Party. Receiving Party agrees that it will not hold the current owner of Mosely Motel or any of its affiliates, partners, officers, directors, employees, or agents liable for any inaccuracies or errors in the Confidential Information or for any decisions or actions taken based on the Confidential Information.

Listing Contacts

JM
IN INDIANA | RB14051634
EXP Commercial
Listed by EXP Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$624,986.00
$52,082.17/mo

Valuation Metrics

0
DSCR
17.86%
Cap Rate
17.86%
ROI

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Additional Information

Name
John Mathewson
License
INDIANA | RB14051634
Brokerage
Exp Commercial
Brokerage Phone
2197819547
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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