Located across the street from the entrance to the Silver Springs tourist attraction, Florida’s well liked and oldest continually operating tourist attraction, consisting of a 350 acre theme park visited by millions of tourists.

The hotel has had a challenging recent history, having been an independent for the last half of 2007, and finally securing a Days Inn flag in late December. All Days Inn systems should be operational by April, 2008. The property, which is comprised of a 103 unit, exterior corridor hotel and a Denny’s restaurant, sits on 4.76(+/-) acres, of which 1.2 (+/-) acres consists of a vacant out parcel to the rear of the hotel, which could be used to develop an extended stay hotel, an assisted living facility, duplexes, triplexes, apartments, or other residential use. The parcel has an appraised value of $140,000.

Hotel consists of 17 king rooms, 2 queen rooms which are ADA compliant, a 1 bedroom apartment, a 2 bedroom apartment, with the balance being double doubles. Amenities include a 120 seat banquet room, meeting space for 50, a tropically landscaped pool area with an oversized, heated swimming pool, guest and house laundries and extensive parking.

Included in the sale is a Denny’s franchised restaurant. The restaurant seats 150 (+/-), is open 24 hours a day, and sales historically achieve $1.45 - $1.5 million annually. The restaurant is currently run by a general manager who is Denny’s trained and certified. The manager is unaware of the proposed sale, but has expressed a desire to continue his employment permanently. Seller is securing a lessee for the restaurant and is able, at this time, to transfer the property with or without the restaurant leased.

As of January of 2008, property is undergoing an extensive renovation to meet the requirements of the new Days Inn franchise. Included in this overhaul are:

• Complete exterior repaint;
• Resealing of the parking lot, including replacement of damaged car stops and restriping;
• Complete modernization of the lobby, including new front desk with granite tops and new cabinets, all new walls and ceiling;
• Replacement of damaged swimming pool coping tiles, new pool deck surface and new decorative fencing around the pool area.
• All new exterior landscaping to compliment the new exterior paint job and new black parking lot surface

The area surrounding this hotel is in a strong development phase, with Lowes, UPS and Home Depot establishing a new presence in the area. Since this property is the only full service hotel with full amenities in the area, it attracts most if not all of the commercial room nights in the Silver springs area.

Current owner resides in the San Francisco bay area of California, where he has a very busy, all consuming contracting business. His proposed General Manager left the property shortly after acquisition, and this has resulted in an inferior performance of the property. The "going concern" value of the Dennys restaurant is estimated to be $850,000 when owner operated. The owner has determined an asking price, but wishes to move on with his other business endeavors, and has therefore taken the position of "BRING ALL OFFERS."

Assume the existing mortgage with a balance of $2,950,000, put $350,000 down, and Seller will carry the balance on reasonable terms.