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Property ID : MLS #07720

Financing Available!, For Sale $1,700,000 - Belize Business For Sale, Luxury Properties ($1M+), Resorts or Hotels for Sale
32000 Sq Ft
 
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Asking Price:

$1,700,000

Sales Revenue:

Available on request

Cash Flow:

$150,000

23 Unit Hotel In Corozal, Belize For Sale For $1,700,000! The hotel has 23 rooms, each of which has A/C, cable TV, WiFi, refrigerator, microwave, fan and hot water. The square footage of the hotel is 32,000 sq. feet and sits on 3 lots, two of which are 50 feet by 100 feet and one of which is 50 feet by 150 feet. There is a restaurant area that seats 65 people and a new building which houses all of the washers and dryers and the sundries a hotel needs to operate. They also have city water and a diesel electrical generator. The hotel was completely rebuilt, including foundation 2004 and 2005. The foundation is rated for 5 floors. They have room for expansion on the existing foundation for 25 more rooms. Owner has talked to the gaming commission about putting in a game room or a complete casino. Each have particular requirements, but Owner has been assured that if the conditions are met it would be approved. If you are interested, then Owner would be willing to share the information. The hotel is located on the main road in Corozal, Belize, a town of about 7,000 people. It is located one block off of Corozal Bay. It is also 6 miles from the Corozal Free Trade Zone, where 3 existing casinos are operating. These hotels are reputed to make anywhere from $40,000 to $120,000 USD per day. Owner feels that they have potential here at this hotel for at least $20,000 USD per day. Owner states that they have averaged $150,000 USD profit every year after ALL expenses including taxes for the past 6 years. WITH HALF DOWN OWNER WILL FINANCE THE REMAINDER OVER 5 YEARS WITH NO INTEREST! Owner wishes to sell as he needs to relocate. He has a son in Medical School in Mexico. Owner is a doctor and wishes to open up a clinic in Cancun himself. Great deal, good opportunity. Call for more information..

Property information

Real Estate:

Real Property Included

Location:

Located on the northeastern mainland of Belize in the center of Corozal Town, within easy walking distance of restaurants, shops & Internet cafes. It is only one block away from the beach. Many visitors to the area love to stroll the scenic waterfront where they can visit the municipal pier & even hop a water taxi for a day trip to the Cayes. Call for more details

Premises Details:

The square footage of the hotel is 32,000 sq. feet and sits on 3 lots, two of which are 50 feet by 100 feet and one of which is 50 feet by 150 feet. There is a restaurant area that seats 65 people and a new building which houses all of the washers and dryers and the sundries a hotel needs to operate.

Business Operation

Expansion Potential:

Great potential for expansion. The hotel was completely rebuilt, including foundation 2004 and 2005. The foundation is rated for 5 floors. They have room for expansion on the existing foundation for 25 more rooms. Owner has also talked to the gaming commission about putting in a game room or a complete casino.

Competition / Market:

Some competition

Reasons for selling:

Owner, a doctor has a son in Medical School in Mexico and wishes to open a clinic there.

Trading hours:

24 hours a day, 7 days a week

Employees:

8

Years established:

1960

Other Information

Support & training:
Owner offers training & support & will stay for a period of time to be negotiated
Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Owner required half down and will finance the remainder over 5 years with NO interest!!

Helpful Links

ATTENTION:

All listings priced in US$. If you are interested in this property, please contact James at 1.888.980.6448 or [email protected]

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