379 Lower Plain Road

The home

About this home

Opportunity abounds with this exceptional cash flowing fully occupied motel. Compounding the existing business bonanza is the opportunity to use the additional vacant part of the parcel to expand the business with additional living/rental units with a design for 24 more already in place. Restore the former bar and restaurant on premises to its former profitable glory and set up an RV park for low maintenance additional reliable income. The highly impressive financial statements await you. The fully operational motel enterprise has nine fully equipped studio units with kitchens (microwave, refrigerator, AC, WiFi, cable) and ten additional standard rooms. Additionally there is a newly renovated 2 bedroom owner apartment and a newly renovated manager studio with direct office access. The onsite laundry and restaurant/bar are available for reinvigoration. The town water and sewer will provide great economic development support for the pre-designed additional 24 units. With low operating expenses and consistent repeat business, and zoning welcoming more hospitality, multifamily development and good fairground access, the entire business ecosystem is built for growth and profitability. PROPERTY HIGHLIGHTS * Existing 24 Unit motel throwing off $500,000. of net annual income! *Development potential: Design plans and survey for further development of the parcel have been completed and will be shared with potential buyer *Property is serviced by town water and town sewer with easy availability to the site *The State of Vermont is designing grants and tax credit programs to facilitate the development of more housing units due to a severe shortage Contact us today for access to the financials of this exciting business opportunity!

Property information

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The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.

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