Business Summary
Maryland Classic Coastal Beach Front Seasonal Motel comprised of 6 elevator buildings (2 and 3 story interior corridor)117 units total(5-1 room efficiencies,3-1 bedroom efficiencies, 10-2 bedroom effficiences, 3-3 bedroom efficeiencies, 89 doubles and 7 doubles for employees) Pool, Parking, Ocean Front Patio, Laudry, Work Shop, 4 retail stores (Pizza and Ice Crea Shops included), restaurant and Bar (100 seats). Daily maid service, 24 hour front desk, phone and cable in each room. Trending 75% occupancy with 30 full time and 2 managers at peak season. A quaint complex with loyal repeat customers who enjoy the amenities and close proximity to beach. The property though is ripe for development, a host of its neighbors have been developed as branded hotels and or condo conversions producing a lucrative return on investment to savy developers. The propety is primed with a existing Architectually developed property improvement plan ready to be executed. Owners have decided to retire rather than take on the project....someones lucky chance to get in on a great deal!!! The current gross is over 1 million dollars and the return currently is over half a million. The Motel is practical and runs well on a minimal staff of 30, run it short term at minimal cost and or develop, you can't lose!!!