Stars Rest Inn - Downtown510 Lane Ave S, Jacksonville, FL 32254

Arun KaushalDas Financial Inc510 Lane Ave S,Jacksonville, FL 322543532aaronkosal@yahoo.com(904) 423-6860

Price: $7,950,000

Property Type: Hospitality

Property Sub-type: Hotel

Building Class: C

Sale Type: Investment

Cap Rate: 13.60%

Lot Size: 5.16 AC

Building Size: 94,321 SF

Sale Conditions: Business Value Included

Average Daily Rate: 54

RevPAR: 33

No. Rooms: 203

No. Stories: 2

Year Built: 1969

Parking Ratio: 2.54/1,000 SF

Stars Rest Inn - Downtown$7,950,000

Former Ramada Inn,now running as an Independent FullService Hotel with Full size Pool with Gazebo,SportsBar and Grill,Fitness Room.Hotel is generating goodcash flow and owner has invested more than $700000.00 in renovating the property. Hotel has alreadybeen divided in 2 parcels,smaller west side parcel maybe converted to a new Independent/Franchisee Hoteland better ADR be generated on 77 RoomsHotel.Owner has already started the process ofconstructing a separate Front Office for it.Main Hotel of129 Rooms may run an an independent or converted toa different franchisee too.

This unique investment opportunity includes a motel,and Sport Bar n Grill conveniently located nearInterstate 10 with ample parking for tractor trailers. Thisproperty offers nightly rates toTruckers,Contractors,Tourists,Business Travelers andlocals seeking affordable options with close proximity tothe downtown Jacksonville area. An MSA which hasseen explosive growth over the past decade,Jacksonville has become known as a destination citywith premier business,sea port,cultural and recreationaldemand drivers. The multi-use site presents a rareopportunity to acquire an asset with multiple revenuestreams with in-place operational efficiencies andvarious rental options.Jacksonville is the most populouscity in the U.S. state of Florida and the largest city byarea in the contiguous United States,also the mostpopulous city in the southeastern United States MSAhas a population of 1,631,488.Harbor improvementssince the late 19th century have made Jacksonville amajor military and civilian deep-water port. Its riverinelocation facilitates Naval Station Mayport, Naval AirStation Jacksonville, the U.S. Marine Corps BlountIsland Command, and the Port of Jacksonville, Florida'sthird largest seaport.Jacksonville's military bases andthe nearby Naval Submarine Base Kings Bay form thethird largest military presence in the UnitedStates.Significant factors in the local economy includeservices such as banking, insurance, healthcare andlogistics. As with much of Florida, tourism is alsoimportant to the Jacksonville area, particularly tourismrelated to golf,beaches & St. Augustine.Jacksonville ishome to many prominent corporations andorganizations, including the headquarters of fourFortune 500 companies: CSX Corporation, FidelityNational Financial, Fidelity National InformationServices and Southeastern Grocers.Interline Brands isbased in Jacksonville and is currently owned by TheHome Depot.The Florida East Coast Railway, SwisherInternational Group and the large short line railroadholding company RailAmerica are also based inJacksonville.

Grossing $2.86 Million,Net Operating Income $ 1

Million plus

Located close to Downtown Jacksonville,Right on I-10

& 295 ( 1 mile) High Visibility,Easy in Easy out

Only Hotel in Town where 40 Trucks can be parked

Sports Bar n Grill on site with Full Bar Licence,

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Unit/Room Mix Information

Description No. Rooms Avg. Daily Rate

KIng 62 undefined

Queen 40 undefined

Double 80 undefined

Suites - 2 Room 12 undefined

Mini Suites 6 undefined

Major Tenant Information

Tenant SF Occupied Lease Expired

Cosmos Hospitality Inc -

Stars Rest Inn 94,320

Zodiac Inn Inc -

510 Lane Ave S, Jacksonville, FL 32254

Property Photos

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Dart Machines

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Calender

Bar Main

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Live Band playing

Gym

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Jumbo Screen (1024x567)

East Side Front View

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North Building Front Half on west side

West Building Back

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West Building Front

Front Desk TV Lounge (618x448)

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Front Desk

Front Desk Lounge

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Plat Map

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