ATTENTION: HOSPITALITY PROFESSIONALS, MOTEL OWNERS & INVESTORS!
Recently Renovated & Partially Remodeled with a New Roof, Updated Electrical ~ 7 Suites & 6 Rooms ~ 0.27+/- Acre Corner Lot, Zoned C-2 in the Opportunity Zone ~ Between Oaklawn Racing & Gaming Casino Resort & Downtown Hot Springs on Central Avenue ~ Selling On-site w/Live Online Bidding Available
REAL ESTATE DETAILS: Don't Miss this Incredible Opportunity to Own a Well-Established Motel with Excellent Income-Producing Potential in a Booming Area of Hot Springs, Arkansas ~ Exceptional Location in the Opportunity Zone between Oaklawn Racing & Gaming Casino Resort & Downtown Hot Springs on Central Avenue with an Average Daily Traffic Count of 27,000+/- Vehicles Per Day ~ This Property Sits on a 0.27+/- Acre Corner Lot, Zoned C-2 ~ 110+/- Ft. of Central Avenue Frontage ~ Motel has Recently been Through a Major Renovation & a Partial Remodel with a New Roof, Updated Electrical Throughout, Updated Plumbing & the Rooms have been Reconfigured into 7 Double Room Suites with 6 Additional Single Rooms ~ Property Shown by Appointment Only ~ All City Utilities, Including Electricity, City Water, Natural Gas & City Sewer ~ Offers Made Prior to Auction Day are Welcome & Encouraged!
INSPECTION: By Appointment Only ~ Contact Agent Doug Westgate at 501-815-4004/ doug@wilsonauctioneers.com ~ Doors Open & Auctioneers will be On-site at 10:00 a.m. on Auction Day.
CLOSING COMPANY: Lenders Title Company ~ Closing Agent: Shanda Dunlap ~ 110 Ouachita Avenue, Hot Springs, Arkansas 71901 ~ (501) 624-2541 ~ Fax/ 623-4552.
REAL ESTATE TAXES FOR YEAR 2023: $2,503.92
TERMS: $75,000.00 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 Day are Welcome.
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