South New Jersey hotel site approved to build a 70 room hotel. The site is close to major governmental establishments.
Asking Price Reduced to $ 999,999
- The Site is over 2 acres in South Jersey and approved to build a 70 room hotel.
- Hilton or Marriott brand suggested for 95 rooms owner would cooperate with the approvals.
- Major governmental establishment in the city.
- Close to international airport.
- Site excavation done and construction pad is ready.
- All the utilities up to the site.
- Location good for Marriott or Hilton brand and the room count can be expanded to about 95.
- City only has Marriott and Hilton brand hotels.
- Construction loan for the site already approved and available to the qualified buyer.
- Property has 5 years tax abatement
Expected ADR for 2012, Occupancy Rate and RevPar for newly constructed hotel in the town where the site is :
|Mid Market brand||$89||73%||$65|