PRICE REDUCTION
Brinkley Arkansas is located halfway between Memphis, Tennessee, and Little Rock, Arkansas.
As such, this motel is an excellent lay over lodging for travelers, sales people and the like.
It is also a convenient place for duck hunters, farm workers and produce vendors.
Next door is a large gas station and fast-food restaurant.
The upside revenue of this motel is unlimited.
However, this motel does need work.
Some of the rooms, before they can be rented, they need renovations.
More repairs are required on the exterior on the motel, such as some type of improvements of the driveway and signage.
Out-of-town owners are looking for a buyer for this property sooner than later.
The property has been for sale previously but at a higher price. The owners fell that the asking price of $ 699,000 is now realistic and represents a fair market value, especially with a gross of over $ 300,000.
There is an existing first mortgage of $ 500,000, which “maybe” assumed.
There is an existing P.P.P. loan (Covid) of approximately $ 90,000, which “maybe” assumed.
So therefore, if you are able to assume there two indebtedness, you need only about $ 110,000 to buy the property.
The owners are motived!!!!
