Interstate Exit Inn
Trl 12 thru may ’05 Gross: $1,625,189         Net: $581,607
Price: $4,900,000
188 units

       Positioned on Florida’s west coast at an interstate exit near downtown Tampa, this recently renovated, 2 story, 195 unit hotel of CBS construction, on 6+ acres of land. The property has 3,000 square feet (mol) of meeting space, a breakfast area, and a leased out restaurant and lounge. The lease on the restaurant and lounge produces $2,000 per month in income for the property. In addition, as part of the lease, the lessee provides the free continental breakfast for hotel guests in the breakfast area.
        Recent capital improvements include, but are not limited to: resurfacing of the parking lot in May, ’05; new carpet in 120 of the rooms in February, 05; new case goods in 20 of the rooms in April, ’05; new parking lot lighting in March, ’05; and 135 new refrigerators and 105 new microwaves in March, ’05. (All rooms have refrigerators and microwaves.)   7 of the units are used for maintenance, storage and electrical, and the other 188 are in the rental pool. The room breakdown is 166 double doubles and 22 kings.
        This property has seen a 40% increase in Room Revenue in the first five months of 2005 over the first five months of 2004. Trailing 12 Room Revenue is over $1,560,000, and the current ownership projects it to reach $1,700,000 by year’s end. This does not include another $70,000 (+/-) generated from other sources.

Quickly becoming a cash cow!

FLORIDA RESORT GROUP, INC.
PHONE (727) 524-0066/frg@gate.net/www.frgi.com
Broker is an agent of and paid by the Seller. This document does not constitute or imply an offer of sub-agency to any other Broker. All information is obtained from Seller or Seller’s Agent and is believed to be accurate, but is not warranted by the Broker. #1199