1. What is the cash price (without owner financing)?
Cash Price = $1,848,000
That equals $33,000 Per Room!
This price includes 56 room hotel and an outdoor pool on 1.02 acres.
Closing within 14 days.
Offer Expires 7/01/2022
The price, terms, offer and discount is subject to change at any time.
2. Can you email me financials?
You can view financials on this website.
The property has been closed since 2019.
The hotel license expired but you can apply for a new FL license.
I will be glad to show you how easy the process is.
3. How do you schedule a showing to visit the property?
The owner has relocated but can provide permission to visit the property. Please email your drivers license and your expected visit date to obtain permission to visit the property, otherwise you will be trespassing. Viewings are Not Available on Friday or Saturdays.
You are welcome to conduct a drive-by without notifying me, however you are not permitted on the property grounds without permission.
Thank you for understanding :)
4. Is the sale price negotiable?
Everything in life is negotiable :)
Just don't expect the "Full Package" if you negotiate.
A quick cash sale will get the sale price reduced, see question #1.
I have priced the property to be the lowest priced hotel on a per room basis in Florida. Comparable hotels have sold for up to $70,000 per room in the last 6 months. The land alone is very valuable and is only expected to increase in value as development get closer to this exit.
5. Is owner financing available?
Yes, if you require the owner to act as your mortgage lender then the sale price will be $2,500,000. If owner financing is used, you will need 10% minimum for a down payment. Fixed interest rate is 5% for 5 years.
These terms will give you sufficient time to build up the financials in order to obtain a traditional mortgage from a bank.
Buyer is responsible for renovations, taxes, insurance etc.
Clear title will be given after the balance due has been paid in full.
Licenses and permits will be transferred after the balance is paid in full.
10% down payment = 12 Months of No Payments!
6. What is the estimated renovation budget needed to re-open?
My personal estimated cost to re-open independently is $5,000 per room. A quality franchise may cost more. You do not need to have all the rooms renovated to reopen. The hotel can be renovated in stages.
Some rooms are in great condition, others need a full renovation.
The property was last renovated in 2015 but will require it again.
7. Is the hotel Franchised or Independent?
The hotel is Independent.
It comes with no management or franchise agreements.
8. What Franchise is available?
Choice Hotels is available.
Wyndham offered Days Inn, Super 8 + more.
Best Western may offer Surestay.
Motel 6 maybe available.
Red Roof Inn maybe available.
9. How is the neighborhood?
This location will only increase in value as traffic continues to grow.
Millions of cars commute past this hotel annually using the I-95 Hwy.
Please click the link below to download the county approved plans for this exit. Nassau County, FL has approved 24,000 acres to be redeveloped and this property is in the middle of that development.
10. Why is the hotel closed?
The owner relocated after falling in love and is not interested in managing the business.
11. How far is the closest airport?
Jacksonville International Airport (JAX) is 15 minutes away by car.
12. Will you consider a partnership?
Due to the amount of high demand I prefer not partnering. However, email me your plans and proof of funds to get a response for your idea.
You need skin in the game for this option to be considered.
13. Can you lease the hotel?
Yes, for $6,000/monthly with a 5 Year NNN lease.
Or, lock in a 10 Year NNN lease for only $12,000/monthly.
This option may not be available due to current high demand.
The tenant will still be responsible for taxes, insurance, renovation etc.
The bonus offering of No Payments For Up To 12 Months does not apply to leases. Any rent payments will not apply towards the sale price. A lease cannot be combined with the owner financing option.
The security deposit of $60,000 is required but will be waived if you prepay 12 months rent annually.
14. Can you hold this property for me?
No, the property will be sold on a first come first serve basis. It will only be taken off the market after a down payment is paid in full.
15. Can you buy the hotel turnkey ready?
Yes just pay twice the sales price. The point of selling it below market value is to give the buyer the opportunity to add value. If you want to save money then I suggest you lease the property instead of buying it.
16. What is needed to re-open?
I do not have a clear answer since I am not there to inspect the premises etc. The property was last renovated in 2015 and left turnkey ready in 2019. It is now in need of renovations again. You will need an honest contractor and renovation funds to reopen the hotel.
17. How long will it take to reopen?
I can probably reopen the property within 6 months but I also know the property better than you. You should give yourself 6-12 months to allow renovations to take place. Remember, I am offering you No Payments For Up To 12 Months to give you time to reopen the hotel.
18. Can you train me how to run the property?
Yes for a fee. Training can be done online using video calls. If you want me to travel there in person the cost will be much higher. All travel expenses will need to be prepaid. You may have experience with hotels but every property is unique. My knowledge and experience can have you turn a profit much quicker than figuring it all out on your own, especially if you are from out of state or abroad.
19. Can you buy the property and run it as an absentee owner?
I do not recommend this option unless your staff is trained and systems are in place to prevent theft etc. Otherwise, I would have done this :)
20. How much money can you earn annually?
You can earn enough to retire early and live anywhere you desire :)
Please refer to the financials on this website or
21. Can we speak on the phone?
Yes, just email me proof of funds and your contact info.
I receive many calls and do not have time to speak to every interested buyer. I will only speak to qualified buyers. Please prepare your questions or email them to save us both time. Thanks for understanding.
22. What is the cost to rebuild this hotel from the ground up?
The replacement value for the building alone (excluding the land) is $3,250,000 based off $120psf. Building costs are higher now due to inflation and material costs. It probably will cost around $4,125,000 (excluding the land) to rebuild the same building from scratch in 2022.
23. How do you buy this property?
Email me your offer with proof of funds.
If your offer is accepted the next step is to pay the deposit of $10,000. The deposit is non-refundable. The hotel will stay on the market until the deposit is paid in full. A Florida licensed lawyer will draft all the closing paperwork.
24. How long is the due diligence period?
Due to the demand for this property please conduct all due diligence prior to a sales contract being drafted. I will not take it off market without a deposit paid in full. The property is offered As-Is.
25. Does the property have clear title?
26. Would you consider trading for a yacht?
Yes as long as the value is substantially higher than the hotel.
I can learn to be a captain :)
27. What forms of fiat payment are accepted?
Dollars, Euros, Pounds, Yen, Swiss Francs
28. Will you accept cryptocurrency as a form of payment?
Maybe, email me the details.
29. Will you accept stocks as a form of payment?
Maybe, email me the ticker symbol and quantity of shares.
30. Can you convert the hotel to multifamily?
Yes but I think the zoning department has requirements. I suggest to run it as an extended stay property to avoid the eviction process etc.
Based on market rates you could get $600-700 month per room.
31. Is their a demand for affordable housing in the area?
Yes, refer to answer #40.
32. What other businesses can you open onsite?
You can expand by offering RV parking or build a gas station catering to trucks. There is room to open a liquor store onsite and use the existing 5COP liquor license. Some rooms could be turned into retail on the ground floor facing the I-95 Hwy.
33. What is the current zoning?
CHT - Commercial Highway Tourism which allows for a wide range of uses. You can open a RV park or retail shop on the existing land.
36. How do you know demand exists for a hotel there?
Millions of cars drive past this hotel annually. It is at the 1st Exit in FL off I-95. The Ritz Carlton Amelia Island & Omni Amelia Island Resort which are 1 exit south both employ over 500 hospitality workers.
Marriott Fairfield Inn & Hilton Hampton Inn are both currently under construction 1 exit south of this hotel. They conducted multiple feasibility studies before investing millions into new construction.
37. What is the Average Daily Rate?
38. What is the Occupancy Rates?
39. What is the RevPAR?
40. Do you have any STR report to review?
Yes it is recent as of September 2021.
41. Will the asking price be reduced if I wait?
No, the sales price will only increase as more development occurs nearby.
42. Do you work with Brokers or Realtors?
I prefer to sell directly to the buyer at this time.
The property is priced to reflect a sale without commission.
If you have a cash buyer who will close immediately then contact me.
43. Why have you not responded to my offer?
You likely did not get a reply to your emailed offer because you did not provide proof of funds. Acceptable proof of funds must be from a recognized financial institution. I do not reply to low-ball offers :)
Response times to offers are usually within 72 hours.
44. Can I buy the land excluding the hotel?
45. Can you subdivide the land?
Maybe, email your offer with proof of funds.
46. What are the hotel property boundaries?
The hotel property boundaries are shown in an aerial image below with the boundary lines drawn in color red. The hotel comes with 1.02 acres.
49. Can you buy only the land?
Yes, buy it then just clear the building and build new.
50. How far is the Beach?
Fernandina Beach is 20 minutes by car.
51. Do you have other hotels for sale?
Yes, but they are not for sale yet. If you want to be notified with details when they are available then email me proof of funds and your criteria.
52. Can you convert the hotel to Assisted Living Facility?
Maybe, please contact the Agency for Healthcare Administration for details at (850) 412-4304.
52. Is this offer a scam?
No. This offer really is too good to be true, however it is not a scam. I am being very picky who will be the buyer of this property. I could have sold it dozens of times to unqualified buyers who did not have sufficient funds to reopen the hotel.
53. What contents are inside the hotel?
I left over $500,000 worth of new fixtures, furniture & equipment onsite when I relocated. Unfortunately, a lot of of it was stolen or damaged by now. Consider whatever is still there as a bonus since it is not under warranty.
54. Is this property eligible for an E-2 USA visa?
Yes, you can obtain an E-2 USA Visa using this property. Please consult with your immigration attorney for details to see if you qualify.
55. Can you give me time to get the hotel open again?
Yes, I am offering No Payments For Up To 12 Months after the down payment is received. As the buyer you will still be responsible for all expenses during those months. This includes but is not limited to property taxes, insurances, licenses and permits.
10% down payment = 12 Months of No Payments!
55. Why should I buy this property?
Florida has the hottest housing market in 2022.
I am looking for an honest businessman who can apply their own unique methods & strategies to make the property successful again.
This really is... A Once In A Lifetime Opportunity!