Warren Hickernell
Realtor-GRI
"Top Producer"
Prudential Palms Realty

Warren@RealEstateInSarasota.com

(941) 232-5738

Sarasota has a good number of "Mom and Pop" motel properties. They usually range in size from 5 units up to 15 units, and start in price from a little over $1 million and up.

The strongest rentals are on the "Keys" (islands), with Siesta Key having most of the motels. During season (January 1st - April 15th) all units are usually rented to capacity. Marketing to foreign countries for summer rentals holds the key to dramatically increasing rental income.

Most sales involve the owner holding a second mortgage on the property, requiring less money down.

Many investors find this an enjoyable way to run a business while savoring the Sarasota way of life. It's also a popular lifestyle for the semi-retired. As a absentee owner, there is also the opportunity to engage the services of a rental agent to manage the property. Management fees run approximately 15% of the rental income but eliminates the need for advertising, office supplies, "800" telephone numbers and other various expenses.

The entire West coast of Florida offers excellent opportunities for ownership of hotels and motels. Contact me for further information on properties in the State of Florida.