OVERVIEW
• Investment opportunity in 2 boutique motels totaling 32 units + 2,000 square foot penthouse.
• Both motels are sold unencumbered by franchise - no franchise fees or liquidated damages.
• Properties carry a 55.9% NOI margin, presenting opportunity for future owner to cash flow with continued seasonal operations or to grow revenue and NOI with expanded booking window.
• Asking price: $2,400,000 (8.3% cap rate).

INVESTMENT HIGHLIGHTS
• Motels are located 0.2 miles away from one another, both along the highly sought-after Geneva-on-the-Lake Strip.
• Pete’s Motel includes a 2,000-square foot penthouse with 3 beds and 2 baths. Penthouse could be used as an owner
suite or used as a short-term rental.
• Both properties are run 5 months of the year and have potential for year-round operation.
• Both properties have been extensively renovated at cost exceeding $1.5M, including new mattresses (2021), vinyl plank (2021), metal roof (The Palms - 2023), flat rubber roof (Pete’s - 2021), washers & dryers (2021), and HVAC (2022).

Highlights:

Room Inventory Description:

Room Count (total): 32 units
Years Built: 1960, 1967
Buildings: 3 total
Corridors: Exterior
Total Parcel Size: 0.7798 acres
Roofs: Pitched, Flat rubber (partially replaced in 2023)
HVAC: Individual PTAC units
Amenities: Heated in-ground pool, private beach, manager suite, 3-bed, 2-bath penthouse

Common area amenities:

Source of Business:

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