50 Room Exterior Corridor

$1,100,000

Illiana Properties is proud to offer this independent motel in Centralia, Illinois.  This downtown motel was once a landmark and it still benefits from an outstanding location.  It sits on the main North-South artery in this community of almost 16,000 people, right across from City Hall and the Police station. 

 

Centralia, Illinois is known as a railroad town with numerous base industries.  Recently, a new Best Western Motel was completed and opened for business in November 2017. This motel is on the West end of town and has a daily rate of $105-$140 per night. The owner of the Centralia Motel also owns the Bell Tower Inn and would sell them both as a package deal.

 

This motel has basically two different business models; 28 rooms are rented on a weekly and monthly basis.  These rooms are the single story U-shaped building on the north end of the property, and on the south end of the property is an L-shaped building that is rented on a nightly basis.  The weekly rooms run almost 90% occupied, when analyzing the historical sales, one must take into account weekly stays in a non-franchised environment.

 

Illiana Properties was the transaction Broker when this operator purchased the Motel Centralia in the spring of 2011. Therefore, we have historical revenue numbers going back almost 10 years.

For further details, please execute our Confidentiality Agreement. You can email the Agreement back to john@illianaproperties.com or fax to 618-563-9310.

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