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644 N DONNELLY ST Mount Dora, FL 32757
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Key Details
Sold Price $930,000
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Sold
Purchase Type For Sale
Square Footage 2,836 sqft
Price per Sqft $327
Subdivision Mount Dora
MLS Listing ID G5042186
Sold Date 08/13/21
Construction Status No Contingency
HOA Y/N No
Year Built 1913
Annual Tax Amount $7,985
Lot Size 8,276 Sqft
Acres 0.19
Lot Dimensions 60x135
Property Description
12% CAP RATE! Very hard to find this kind of High Cash Generator. Immaculate hands-off 6 suite Inn in the heart of bustling, booming, Historic Downtown Mount Dora with C2 zoning. Completed in February 2020, this property underwent an entire renovation of the interior and exterior in accordance with the outstanding "Heirloom standard" which resulted in doubling sleeping capacity and creating 6 beautifully appointed suites and rooms each with private bathroom, private entrance, porches, decks, garden, outside seating and covered parking. No on-site management required, however either the Opal or Diamond suites would be ideal if buyer would like to live in beautiful Mount Dora. For incredible cash yield, owner only needs to spend a few hours per week due to set up of automated channel manager interfacing with the booking sites and autopay platform. Seller also installed remote key codes, locking systems and ozone generators to sterilize air between guests all of which is handled within the housekeeping checklist. Housekeeper also takes care of guest and reservation questions. The Heirloom Inn is a licensed turn-key business generating in excess of $18,000 per month with minimal expenses as operations have been streamlined and property has virtually no deferred maintenance. Revenues are all verifiable with reports coming directly from reservation platform and cross referenced to P&L The property has been operating as an Inn for decades and has a high return guest ratio, solid following. 2 of the suites have full eat-in kitchens and 4 have breakfast bars with microwaves, coffee makers and refrigerators. 6 covered parking spaces w/additional parking pads for guests. Sale includes real estate, furniture and fixtures, all booking-site (OTA) relationships, channel manager, platforms, websites, and social media/SEO. Seller is Florida Licensed Real Estate Broker.
Location
State FL
County Lake
Community Mount Dora
Zoning C-2
Interior
Heating Other
Cooling Mini-Split Unit(s)
Appliance Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior
Utilities Available BB/HS Internet Capable, Electricity Available, Natural Gas Available, Other, Public, Water Connected
Roof Type Metal
Building
Lot Description Central Business District, Corner Lot, Historic District, City Limits, Sidewalk, Street Lights, Paved
Story 2
Entry Level Two
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Structure Type Wood Frame,Wood Siding
New Construction false
Construction Status No Contingency
Others
Ownership Other
Acceptable Financing Cash, Conventional, Other, Private Financing Available
Listing Terms Cash, Conventional, Other, Private Financing Available
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with RE/MAX PREMIER REALTY
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Panagiotis Peter Sarantidis
Licensed Real Estate Sales Professional | License ID: 3332095