53 room ++ Oceanfront high rise hotel. Rocky Point Mexico (Puerto Penasco)
Rare opportunity to purchase successful but severely ‘undermanaged’ hotel directly on the beach of this up and coming tourist destination. Just approved: Cruise ship origination / destination. This will be an important cruise ship port.
Rocky Point is about 200 miles southwest of Phoenix and Tucson in Sonora, Mexico, along the Gulf of California. Some have nicknamed the town “Arizona’s beach” because it’s a three and half hour drive from both cities.
Hotel currently operating at 20% occupancy due to health and other family issues. The place has been ignored.
Hotel currently operating with positive cash flow even though the revenue is so low. (great upside)
Provide front-line management. Spend 36-48 months doubling the revenue and NOI. Sell it for twice purchase price of 1.9 ml plus improvements of 200k. Total project cost 2.1 ml. Possible very short-term owner financing to get started.
Double our investment in 48 months.
ABOUT THE HOTEL:
This is an AMERICAN OWNED Hotel
Once in a lifetime opportunity for someone interested in owning an oceanfront business in one of the better resort towns south of the border which is about to go on the international map soon as the Port Of Call for the new Sea Of Cortez Cruisline’s Nautical Ladder. Connecting flights are already being scheduled in from Nevada and a national coastal highway is already in existence allowing US Traveler’s easy and safe passages.
The business itself is TURNKEY and currently generating PROFIT, it is practically selling for the purchase price of the ocean front land it sits on, with over 1.5M additional invested into it. This business also includes direct rights (yes, I have concession) of the beach it sits on! It is a 3 Star hotel with room for growth and improvements, if you are part of a hotel chain, take a look, easy potential here.
Not into the Hotel Business, take another look, this can easily be converted to other residential types of structures and still make a profit, remember this is ON THE BEACH!