Any other hotels near or on airports?

("C. Massey" wrote)
How about the Sandpiper Inn at KTFW? I found this page,
http://www.scogginblue.com/B/tx/fortworth/80sai


Sandpiper Airport Inn for Sale
Fort Worth, Texas (KTFW)

Price:$2,000,000 all cash at closing
Reduced to $1,600,000
Number of Units: 80
Room Revenue: The property has been closed since 2001.
The owner represents historical revenues in the $500,000 to $600,000 range
prior to closing.


Buy it for $1.5M
Condo out 75 (of 80) rooms into 25 units. (3 rooms per condo)
Sell each "Airport-Condo" for $160,000 = $4M

25 units x $60K(!!!) conversion costs = $1.5M more dollars.

In your pocket = $1M net. More if you can keep down the condo conversion
costs, the initial price, get more per condo, etc, etc.

You're left with an airport B&B, or just 5 rooms for whatever, a restaurant,
3.5 acres of leased land, plus you still have 1,200 square feet for your
digs or rent it out for office space.

The lease is $1,600 month = $65 per condo owner.

There, that was easy enough. Out for my 3 mile walk now. 52F.


Montblack