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Finance And Services:

Land 26; Buildings For Resort Hotel For Sale

LISTING DETAILS
Firms For Sale ID:
10109
Vendor reference:
950610
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Asking price:
$2,000,000  
Turnover / revenue:
$60,000
Net profit / cashflow:
$60,000

OTHER DETAILS
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
ALL LAND 26; IMPROVEMENTS WITH 48 ROOM HOTEL 2B; GAMING LICENSE OWNED BY THE BUSINESS 2B; 2B; 2B; 1,000 YARDS FROM SEA OF CORTEZ WITH BEST FISHING IN NORTH AMERICA FOR 24;400,000 DOWN PAYMENT . . . READ ON21;21;21;Only gaming license in town of San Felipe, Mexico. Only Spa in town with thermal, mineral water pools. First 26; only hacienda style hotel in town 96; rustic atmosphere. Carlos Slim is major area owner. Views of Sea of Cortez 26; Sierra Madre Mountains. Hotel website describes water as getting up to 98 degree 96; 93;bathtub temperature94;.Best fishing in North America. You can put 2-3 hooks on one line and pick up 2-3 fish at one time 96; mostly white sea bass. In 4 hours 96; caught 1/2 ton of fish21; We are told 93;after fishing there 96; anywhere else is boring21;94; Never starve 96; plenty of food there. Plus 96; in these waters 96; No Pirates21;CostCo delivers what you buy to San Felipe 96; you can shop or order on-line.Purchase terms: 24;2 million price, 20%; down (24;400,000), with 24;1.6 million balance at 6%; with note for 10 years.Purchase is subject to lease and renewal option that extends 15 years. Upon purchase of hotel land and buildings 96; you will receive this lease income of 24;60,000 per year (24;5,000 per month) PLUS escalation equal to 3%; of sales over 2008 level of approximately 24;630,000. You can also acquire the adjacent vacant land for further development as golf park, children92;s playground, movie theater complex, bowling, RV rental, or hotel expansion 96; with separate access. The adjacent land is priced at 24;5,000,000, with comparable terms to hotel land 26; buildings stated above.Hotel business has the above 15 year lease (10 yr) and renewal option (5 yr). Hotel business also has right of first refusal on hotel property (land and buildings), and on adjacent development land.Location: San Felipe is at north end of Bay of Cortez 96; which separates Baja California from mainland Mexico. (a) Mexicali is 2 hours from San Diego, CA 96; and San Felipe is 2 hours from the Mexicali border. (b) One can go by car via El Centro, rather than Mexicali. (c) There is also a small, private airport near the hotel.Reputation of cleanest hotel in town. Expansion opportunities: Additional land available, plus no present relations with travel agents. All repeat business 96; with groups taking up to 15 rooms. Put together your own consortium to buy hotel property21;Separate discotheque building can be reopened. Owner is world class master chef with former restaurant in Mexico City. His pictures with Marilyn Monroe, Jayne Mansfield, etc. excluded from sale - from hotel business.For more information, please contact Joe Gertz at (310) 539-8300.