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Home For Sale Florida Cedar Key 4856
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Motel For Sale By Owner

30 Unit Water Front Motel for Sale - Cedar Key




873 First St, Cedar Key, Florida 32625 United States
Description

The BeachFront Motel is located in beautiful Cedar Key which is a small city located on the Gulf of Mexico in the middle of the Nature Coast region of northwest Florida’s Gulf Coast. Cedar Key transitioned from an old-fashioned fishing village to a tourist destination. The city features a small, historic, walkable CBD with dining, shopping and lodging in a waterfront setting. The motel is conveniently located within a ¼ mile of all.

Cedar Key is located in Levy County. The nearest sizeable cities are Gainesville (60 miles northeast); Ocala (70 miles east); Tampa (130 miles south) and Tallahassee (150 miles northwest). Cedar Key is “old Florida” or “original Florida” or better yet, “before Disney” Florida. Cedar Key is a clamming, fishing and artist village with a tourist trade. The tourist trade is mostly seasonal and most visitors are looking for a low key sort of vacation.” The tourism high season runs from Mid-February through the end of October, as well as during major holidays and several annual festivals. Activities include birding, fishing, star gazing, dolphin watching, boating and dining in local seafood restaurants. Attractions include the Cedar Keys National Wildlife Refuge; the Lower Suwanee National Wildlife Refuge; and several state parks.

Location Description: Breath taking views, both sunrises and sunsets Dolphin watching, fishing, star gazing..... Great spot for family and/or group events Books in advanced by large groups and events

Income/Expense Info: Actual

Gross Income: $473,790

Effective Gross Income: $473,790

Operating Expenses: $160

Net Operating Income: $313

Pre-Tax Cash Flow: $313

Debt Information: Proposed

Loan Amount: $2

Interest Rate: 6.875 %

Amortized: 25 Years

Due In: 25 Years

Down Payment: Call for price

Price: $2,700,000
Property Sub-Type: Motel
Average Occupancy: 65 %
Cap Rate: 9.14 %
Total Building Size: 10,300 SF
No of Stories: 2
No of Parking Stalls: 24
Listing ID: 4856

Map of: 873 First St, Cedar Key, Florida 32625 United States

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