The Historic OTT Hotel
This is an historic hotel built in 1928 and has served as a brothel, a bed & bath, and hotel. It has 22 rooms that include 13 apartments with kitchenettes, and 9 hotel rooms. In addition there is a one bedroom manager apartment. This hotel has 2 historical markers describing the heritage of he property. This hotel has a dinning room and kitchen that has served guests, and many special events over the years. Each room has a historical plaque describing an event that occurred in there including ghost from the past. Many ghost hunters stay the night hoping to see a ghost sighting which occurs on a frequent basis. Occupancy exceeds 90%.
Listed By: Jeffrey Jones
Background information
Reference:
82452
Year established:
1928
Reason selling:
Moving to the country.
Finance
Sales:
$102,598
Profits:
$44,334
Profit type:
Discretionary Earnings
Operations
Employees:
Husband and wife operate the business
Equipment:
lobby furniture, kitchen equipment and room furniture.
Premises
Facility:
The property is located on 15,500 sq. ft. of land
Square footage:
9,013 sq. ft. 2 story building with 22 rooms.
Location:
Liberty, TX
Price and terms
Price:
$500,000
Financing:
This property qualifies for the SBA loan program with a down payment of about $75,000 down payment and a new SBA loan for $425,000 payable over 18 years at 7% interest = $3,465.88 P/M.
Training:
As needed