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RESORT - HOTEL - 400 ROOMS

ORLANDO - FLORIDA USA

US $ 20m + 5% Buyers premium

Here are a few characteristics of this very attractive resort - hotel: A 400-room hotel that needs renovations and would benefit from partial conversion to retail space on road frontage (heavily traveled tourist corridor).

Located in the heart of the Orlando tourism area.

Near several major theme parks and just 12 miles from the Orlando international airport.

It was built in 1970, expanded in 1972 and in 1981. New owners closed the hotel for conversion to a condo-hotel, but they were unable to complete the conversion, nor were they capable of reopening the property as a hotel. The hotel belongs now to a bank, which received the ownership, following foreclosure proceedings.

Property size of 413,820 sq ft. Total land area is 9.5 Acres.

According to the property tax appraiser, the land alone is worth $ 9.5 M.

We estimate the cost of renovations to be 10 to 15 M USD and the value of the property to be 45 to 50 M USD after renovations. This estimation should, however, be verified with other qualified professionals.

Since the property does not function currently as a hotel and therefore financials are not available.

The asking price of the property is US $ 20 M+ 5% buyer’s premium.

Any interested party will need supply a bank reference as to financial capability.

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Aussie Hotel Brokers
Paul McElhone - Max Hitchins
(A Division of Varanu Pty Ltd)
10/9 Myrtle Street
North Sydney NSW 2060, Australia
www.HotelBrokers.com.au
Tel: +61 (2) 9966 1144 Fax: +61 (2) 9966 1700
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