Listed by Colliers - Oakland, California
$4,000,000
Park Lane Motel
Details
APN 040A-3422-11-4
Property Type Hospitality, Land
Sub Type Commercial, Motel
Square Footage 6,983
Year Built 1940
Acreage 0.459
Zoning RU - 4
Parking Spaces 15 spaces
Parking per 1,000 SqFt 2.15
Hospitality
Marketing description
Recent management change, some visible wear, meets current building code, recent refresh to multiple rooms, 3 active kitchenettes (Buyer may choose to restore all units to kitchenettes), room sizes of approximately 190 SF, 209 SF, and 399 SF, on-site laundry and ample storage
Proposals for long-term Management and Operations Agreement with service-oriented organization will be considered.
Investment highlights
- Minimum Term – Four (4) years
- Rental rate – $42,500/month (Discounted for semi-annual lease payments)
- Lease terms – NNN
- Improvements made at Tenant’s expense
- All other terms negotiated
Listing Contacts
Listed by Colliers - Oakland, California
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