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Location: New Jersey, Atlantic City Area
Number of Units: 30
Year Constructed: 2003
Corridors: Exterior
# of Stories: 2
Chain Affiliated ? : Yes
Cost to Transfer Franchise: $ 1000
AAA Rated ? : Pending

Asking Price: $ 2,725,000 now $ 2,550,000
Gross Rooms Revenue: $ 489,000 (Projected for 2008)
Gross F&B Revenue: N/A
Gross Other Revenue:  N/A
Annual Property Taxes: $ 24,445
Annual Insurance Costs: $ 5,575
Seller/Private Financing Available ?: Yes, Lease-to-Purchase Option Offered (See Below)

Other Property Included: N/A

Other Information: This property is still new and fresh, having just been constructed in August 2003.   Still being new, it is super-clean, with all new "everything".   And its revenue projection of $489K is just the start; future projections look bright for this property that has proudly won star performance awards from the affiliated franchisor.   The property includes a deluxe Manager's Quarter, perfect for an owner-operator.  The exterior doors have recently been repainted, and the parking lot has recently been resealed/restriped, just to keep everything looking "brand new".   If you desire a brand-new property without going through the hassles of construction, check this one out.  This property is being offered for sale via an outright purchase, or via a lease purchase.

Lease-to-Purchase Notes : Minimum $300K Down Payment, seller will finance balance; monthly lease payments calculated per 30 year amortization (approximately $ $16,350 per month).   At the end of lease term (maximum 3 years), lease must convert to purchase with remaining principle due at that time, financed via an outside source.   All principle paid during lease period shall apply towards principle balance due when lease converts to purchase.

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