Please note that the online real estate pricing programs DO NOT KNOW that there is a fully renovated (2003
The Inn enjoys year-round strong occupancy and has grown revenue year over year since 2007, with additional opportunities not yet tapped. 78% of the purchase price is real estate. San Antonio zip code 78212 (Monte Vista) real estate values, according to Sperling's Best Places, have appreciated 32%, 11% and 6% over the past 10 years, 5 years and 12 months, respectively. The property is zoned commercial and could be used for other business purposes.
We have researched within the industry, using the PAII (Professional Association of International Innkeepers) recommendations, speaking with former innkeepers, as well as consulting Bhttp://bbteam.com/2010/07/27/what-is-an-inn-worth-how-lenders-look-at-value-2/ and http://www.lodgingresources.com/Innkeepers/WhatIsYourInnWorthArticle/tabid/2701/Default.aspx
To highlight the key valuation points of these articles, the Gross Revenue Multiplier (GRM) range for a property of this size is in the 3 to 5 times revenue range and with the Income Capitalization Method, the range is "9%" to "12%." As the Inn currently operates, the operations meet or exceed these parameters.
The current pro-forma EBITDA/OWNERS DISCRETIONARY INCOME Return On Investment/Cap rate is 10.43% and will grow to 12.91% by just making the 6th guest room available. Current revenue mix of 56% from rooms with 39% attributed to weddings and is capable of growing to in excess of 60% of revenue in weddings, all dependent on one's appetite for growth. The infrastructure is already in place to handle the additional revenue opportunities. Investors will be happy to know that pro-forma EBITDA/OWNERS DISCRETIONARY INCOME is inclusive of 3 new hires (Innkeeper, Assistant Innkeeper/ Wedding Coordinator and a chef). However, ones level of involvement reduces the amount of wages to be paid and increases the EBITDA/OWNERS DISCRETIONARY INCOME. And most importantly, you dont have to renovate and build a B
Check out more photos on www.craigplace.com
Additional property info: http://www.forsalebyowner.com/listing/8-bed-Other-property-for-sale-by-owner-117-W-Craig-Place-78212/23985110?provider_id=28079
- Lot: 0.33 acres
- Single Family
- Built in 1891
- 98 days on Zillow
- Views: 11,378 all time views
- 18 shoppers saved this home
- Cooling: Central
- Heating: Forced air
- Last sold: Aug 2007
- Price/sqft: $236
- View Virtual Tour
- Cable Ready
- Ceiling Fan
- Fenced Yard
- Flooring: Carpet, Hardwood, Tile, Other
- Hot Tub/Spa
- Jetted Tub
- Parking: Carport, Garage - Attached, Off street, 1 space, 504 sqft
- Security System
- Sprinkler System
- Vaulted Ceiling
- View: City
- Garbage disposal
- Range / Oven
- Trash compactor
- Breakfast nook
- Dining room
- Family room
- Laundry room
- Master bath
- Sun room
- Roof type: Other
- Room count: 27
- Stories: 2
- Structure type: Other
- Unit count: 1
- Floor size: 5,500 sqft
- Heating: Electric, Gas
- Last remodel year: 2010
- Laundry: In Unit
- Lot depth: 180
- Lot width: 1800
- Parcel #: 018600010190
- Zillow Home ID: 26119144
The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table
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The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
Homes like this sold for $850-975K.
Popularity on Zillow
Neighborhood: Monte Vista
Foreclosures will be a factor impacting home values in the next several years. In San Antonio, the number of foreclosures waiting to be sold is 29.8% higher than in San Antonio Metro, and 53.3% higher than the national average. This higher local number may prevent San Antonio home values from rising as quickly as other regions in San Antonio Metro.
Learn more about forecast calculations or San Antonio home values.
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Nearby Schools in San Antonio
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Disclaimer: School attendance zone boundaries are supplied by Maponics and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.
Data by GreatSchools.org
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