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Bayside Inn [20 year Lease] (Monterey)

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  • Location: North Fremont Street in Monterey. The entrance to the Monterey County Fairgrounds is one block from this motel. Hosting a myriad of events throughout the year including the Monterey Jazz Festival, Blues Festival, Monterey County Fair, Reggae Festival, the location promotes at least one major weekend ten months per year. The motel is next to a forty unit Quality Inn and across the street from a forty five unit Comfort Inn, forty unit Ramada Limited, a forty five unit EconoLodge, and a hundred and fifty unit Travelodge. Six restaurants are within two blocks. Approximately one mile from the beach, Fisherman's Wharf, two miles from Aquarium, easy access to Highway 1 South to Carmel and Pebble Beach.
  • Guest rooms: Twenty-One total comprising five Kings, five double Queens, and eleven Queens. The rooms need refurbishing and the bathrooms need repair.
  • Living Quarters: One bedroom, bathroom, full kitchen.
  • Amenities: The location and good size parking lot. Phone system is Mitel SX50. Swimming Pool, fenced.
  • Extras: Terms of the lease include fixed rent for ten years and a total of twenty years left on the lease. This is not a sublease but sale of the leasehold interest by the current Tenant. Pool needs new filter system to comply with California's recent pool laws as amended.
  • Description: Four single storey, frame stucco buildings. Roof is asphalt shingle, eighteen years old.
  • Asking Price: $249,000.
  • Past managers have been mediocre and therefore the motel has excellent potential for the owner operator with limited cash to enter the Monterey motel market.
Julian Bills: Broker, DRE # 00532752
cell/tel: (831) 212-4526 -  email@julianbills.com
Page last modified: July 28th, 2010

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