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146 Room Hotel in Downtown Indianapolis For Sale

$200,000 down buys 146 Room Hotel in Downtown Indianapolis For Sale For $2,675,000. This Independently Owned Hotel is busy, busy, busy. It has the best possible location close to the Indiana Speedway, what more could you want? Net Profit is approximately $250,000. Financial figures are based on an established & estimated income. Business at the hotel has been booming & increasing every month since the complete remodeling in 2008 with revenues catapulting between July & December & this can be proven. The value of the real estate is approximately $2,590,000 & the replacement cost of the hotel is $5,000,000. Being independent, the hotel does not have the headache of having to pay franchising fees. Owner has half the hotel running as extended stay & the other half as overnight. This two story hotel has 146 rooms in a spacious 50,000 sq.ft building of solid concrete construction on 3.2 acres of prime real estate. The interior corridors are a great safety feature for the guests. All rooms are pleasantly decorated. Most rooms have a refrigerator & a microwave oven. There are also efficiency apartments, Jacuzzi suites & double room suites, both smoking & non smoking are available. For convenience, there is also a very large managers unit on-site. This consists of 3 bedrooms, 2 bathrooms, Jacuzzi tub & fully equipped kitchen. Features of the hotel include an equipped exercise gym, inside swimming pool & spa facilities & coin operated laundry room. The hotel is completely run by the reliable & hardworking staff who have earned the respect & trust of the owner. Owner is selling because he wishes to retire. Owner will carry the loan with $200,000 down payment & offers a low interest rate.This is a great opportunity.