Virginia Hard Money Deal - Close

550

None

No

Middletown

Virginia

$1,450,000

$0

I'm attempting to obtain a historical Hotel Listed for $1,450,000 with $671,000 in Annual Net Profit after administrative fees the owner has health issues and wants to sell the business asap and offers assistance in helping run the business part-time. The hotel is a 40,000 sf building with 22 guest rooms all with on-suite bathrooms, full linens, and in house laundry facilities. Three bars, dining areas, meeting rooms, reception area, gift shop/tea room and lounges with gas fireplaces. 3000sf modern kitchen addition built 1986 with speakeasy below. Full on/off ABC license and current health department inspections. Exterior brick patio with wedding / event/ party log barn. Modern 480V and public gas water and sewer service. All furnishings, equipment, silverware and antiques convey. I am willing to pay 80% of net profits for 60 Months. Which would be $2,683,999.8 if current net profits stay consistent. After the terms I will also give 20% ownership of the Business with monthly Dividends of 20% of net profit with the option to sell me back your share of the business. At the moment I'm in contact with the owner.