ATTN: RESORT & MOTEL OWNERS, INVESTORS~READY-TO-GO INCOME PROPERTY!
5.25+/- Acres Overlooking Lake Norfork, Near Mountain Home, Arkansas ~ CARLTON RESORT ~ 21 Units w/Separate Living Quarters ~ At the Entrance to Cranfield Marina, Campgrounds & Park ~ Cozy, Well Maintained Resort w/Pool ~ Nestled in the Middle of Arkansas’ Tourism Hot Spot ~ Offered in 3 Tracts & Combinations ~ Selling On-site w/Live, Online Bidding Available~
SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY!
REAL ESTATE DESCRIPTION: 5.25+/- Acres will be Offered in 3 Tracts & Combinations ~ All Tracts have Frontage on Cranfield Road ~ (TRACT 1) Approx. 0.79+/- Acres ~ Four (4) Cottages, #21 has 2BR/ 1BA, Living Room, Kitchenette, Sleeps 6 ~ #22 has 1BR/ 1BA, Living Room, Kitchenette, Sleeps 6 ~ #23 has 2BR/ 1BA, Living Room, Kitchenette, Sleeps 8 ~ #24 has 1BR/ 1BA, Living Room, Kitchenette, Sleeps 2 ~ All Cottages have a Covered Porch ~ (TRACT 2) Approx. 3.5+/- Acres ~ Eight (8) Units Varying in Size from 1BR/ 1BA to 3BR/ 2BA, All have Kitchens or Kitchenettes, Covered Porch or Deck ~ (TRACT 3) Approx. 0.96 Acres ~ Eight (8) Suite Units; Plus, a Large Separate Home w/ 4BR/ 2BA, Living Room, Kitchen, Sleeps 12 ~ Suites are 1BR/ 1BA ~ Separate Home for Owner/Operator w/ 3BR/ 2BA, Kitchen, Living Room, Den/Dining, Main Office & Utility Room ~ All Units have New Flat Screen TVs ~ All Furniture, Fixtures, Appliances, Utensils, Towels & Bedding go w/the Sale, Except for Personal Property in the Living Quarters & some Items Outside Including the Owner’s Tools ~ Real Estate Taxes Estimated $4,826.00 ~ City Water w/Septic, All Electric, Internet & Cable.
BUSINESS DESCRIPTION: A Fully Operational 21 Unit Resort Motel w/Separate Home for Office w/Living Quarters ~ Based on Summer Rates, Daily Rental Income at Full Occupancy is $2,149.00 ~ Owned & Operated by Current Owners Since 2004 ~ Lots of Repeat Business ~ Some Long-Term Rentals.
AUCTION DETAILS: This Auction will be Conducted using a Multi-Par Auction Method in (3) Tracts & Any Combination of Tracts ~ Every Tract to be Sold Regardless of Price to the Highest Bidder on Auction Day!
AUCTIONEER’S NOTE: North Central Arkansas enjoys a diverse economy; due to Bull Shoals Lake, Lake Norfork, the White River and the Norfork River, recreation and tourism along with a popular retirement community drive a low unemployment rate, a highly active housing market, and quality living conditions. The Carlton Resort is a well-established resort with many repeat clients. Don’t miss this tremendous business and investment opportunity to own an excellent turn-key business and start enjoying a new lifestyle.
INSPECTION: Inspect this Property Anytime ~ Auctioneers will be On-site at 12:00 p.m. Day of Auction.
CLOSING COMPANY: Lenders Title Company ~ Closing Agent: Kim Stewart ~ 115 East 6th Street, Mountain Home, Arkansas 72653 ~ (870) 425-6946.
REAL ESTATE TAXES FOR YEAR 2018: $5,119.66
SCHOOL DISTRICT: Mountain Home
TERMS: (TRACT 1) $10,000.00 ~ (TRACT 2) $20,000.00 ~ (TRACT 3) $20,000.00, All in the Form of a Cashier’s Check made Payable in Your Name or Wilson Auctioneers, Inc. Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ 10% Buyer’s Premium ~ Offers Prior to Auction are Welcome! ~ All Information was Provided by Reliable Sources but Not Guaranteed.
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