Charming 1940s Motor Court: 10% Cap Rate, 50% Seller Note Opportunity

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Travel

  • Primary Category: Motels

Renovated from its historic origins, Harbord Kourt exudes 1940s charm and presents an exceptional investment opportunity! Originating in 1948 during the surge in long-distance travel and increased car ownership, this original tiny home community fell into disrepair until the perceptive previous owners recognized its inherent allure and lucrative prospects, embarking on a comprehensive $300,000 restoration.

No expense was spared in the renovation, which included state-of-the-art HVAC systems via split units, updated plumbing, and electrical infrastructure, and contemporary yet vintage-inspired finishes throughout each cottage. The four available cottages for nightly rental boast amenities such as a coffee bar, microwave, refrigerator, smart TVs, high-speed internet, and Posture Gel beds – all cottage furnishings are part of the package! Each cottage includes a
designated parking space, a 160 square foot covered patio for enjoying the outdoors, thoughtfully designed spaces for relaxation, charming barn doors leading to private bathrooms with stenciled porcelain tile flooring, and timeless subway tile surrounds in the walk-in showers.

Away from the urban hustle and bustle, the property offers a combined residence/office space with a spacious private bedroom for either the owner or a resident manager, a welcoming area, a dedicated office, a generously sized kitchen with stainless steel appliances, and a sizable laundry room/pantry. Additionally, there is a 432 square foot outbuilding perfect for storing housekeeping supplies or other essentials. Daily maid service is available for guests, ensuring their comfort and satisfaction.

Conveniently situated less than an hour from Abilene and within 2.5 to 3 hours from DFW and Austin, Coleman, though not a well-kept secret for much longer, currently serves as an idyllic escape from metropolitan life. For more details and confidential information, contact us today!

Financial Information

  • $740,000 Asking Price
  • $75,000 Cash Flow
  • Yes Financing

Business Location

  • City: Coleman
  • State: Texas

Reason for Sale

  • The owner is looking to focus on other business opportunities.

Detailed information

  • Year Established: 1948
  • Home Based: No
  • Franchise: No
  • Relocatable: No
  • Lender Prequalified: No
  • SBA Prequalified: No
  • Full-Time Employees: 1
  • Part-Time Employees: N/A
  • Contractors: N/A
  • Owner Worked Hours/w: N/A
  • Adjusted EBITDA: $75,000
  • Inventory Included: Yes
  • Monthly Rent: N/A
  • Real Estate Available: Yes
  • Real Estate Included: Yes
  • Real Estate Value: N/A
  • Building Size: 1921
  • FF&E Included?: Yes
  • FF&E Value: $100,000

Training/Support

  • Owner will provide training free of charge for 4 weeks for 20 hours per week to ensure a smooth transition.

Facilities

  • Revitalized motor court with 1940s charm.
Business Listed by
image of Bill Nicholson, MBA, M&AMI, CM&AA
Bill Nicholson, MBA, M&AMI, CM&AA
Sunbelt of Dallas Metro
Show Phone Number
Listing ID
DALLATX004-54459

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