Hotels and B & B's in Tiberias (170-5239)

Information - Property #170-5239


GREAT OPPORTUNITY
ACTIVE AND PROFITABLE HOTEL IN TIBERIUS FOR SALE

Description of surroundings:
The hotel is situated in the city of Tiberius.
There are synagogues, houses of study, ritual baths, stores and shopping malls in close proximity to the hotel.
The Kineret is within walking distance. The hotel is a seven minute walk from the beach.
Kosher Certification:
To date the hotel serves kosher food supervised by the Rabbinate of Tiberius as well as Rabbi Machpud.
General outstanding bills:
The hotel does not owe any money to the municipality, nor to the electric company , the city of Tiberius, or other taxes.
3,000,000 NIS credit in taxes…?
Building measurements: 4574 square meter
Amount of rooms: over 100 rooms: anywhere between 15 – 25 square meter.
The hotel has a large hall that fits 450 guests.
The hotel has an additional hall fitting 200 guests and a kitchen.
(The smaller hall is presently being rented out for $2,000 a month.)
The dining room is large enough for 200 guests.
The Shul fits 80 people (men/women).
There is a storage measuring 450 square meters.
Parking – 500 square meters worth of parking space fits approximately 16 vehicles.
There is also a large porch for the guests to enjoy.
20% of the bedrooms are facing the Western part of the city.
20% of the bedrooms face the hotel's porch, and the remaining
60% of the rooms have a view of the Kineret.
The hotel also boasts a laundry mat.
On the hotel's roof are 3 kinds of antennas belonging to 3 major cell phone companies: Partner, Celcom, & Pele-phone. An agreement was made with these companies to use the roof in exchange for unlimited time with the above phone lines. The agreement ins negotiable and the hotel can be free from its end of the deal. The companies paid upfront to the hotel owner.
There are ACs in the entire hotel, however, they are the kind that use lots of electricity. The hotel is eligible to switch its entire air conditioning through the department of infrastructure in exchange for the old ones and receive a 30% discount when purchasing the new ones.
On the hotel's roof are Solar Energy equipment which heats the water. During the winter months, the water is heated with the help of a solar burner.
The hotel is presently rated 3 star, attracting Israelis, tourists and tzalyanime…
The hotel enjoys 60% occupancy throughout the year.
It is possible to enjoy a larger occupancy in the event that the rooms are renovated for 20,000 – 25,000 NIS each. The upgrade can bring the hotel to a level of 4 star and thereby charge a higher price. The occupancy can rise to 80% after renovations.
Prices at the hotel at present are:
800 NIS per couple for full occupancy on Friday – Shabbat
350 NIS per couple for bed and breakfast midweek.
There are 2 Shabbat elevators
1 – for 4 passengers
2 – for 5 passengers
The hotel has a very good track record!
Option: it is possible to add a porch to all the rooms. This would call for blueprints and permits from the city of Tiberius. It is also possible to buy the company. In that case, the credit of 3 million NIS worth of taxes can be deducted from the sum.
THE PRICE: 21,000,000 NIS + TAX.
Price per square meter: 3279 NIS
Average price for business property in Tiberius:
10,000 – 20,000 NIS per meter
DEFINITELY AN AMAZINGLY LOW PRICE!
For additional information and a tour of the property, the sole broker for this sale, Rabbi Asher Horowitz, can be reached at 054-68999999.
Commission for broker is 2% + tax – in accordance with the law.
Yearly expenses to date:
183,642 NIS – Costs of yearly property tax
72,000 NIS – Costs of yearly water supply
360,000 NIS – Costs of yearly electric supply
Employees….
Yearly income to date:
220 days times 600 NIS on average per room = 132,000 NIS per room.
132,000 NIS times 103 rooms = 13,596,000 NIS
Not to mention the rent from the halls used for conventions and weddings etc.
Hopeful goal for income from the hotel after renovating the hotel and following the upgrade in rate and total amount of occupants… (bruto)
330 days a year times 600 NIS minimum per couple per room = 198,000 NIS
198,000 NIS times 103 rooms = 20,394,000 NIS
Once again, this does not include renting of the halls for occasions.

In Summation:
There is no doubt that the great potential the hotel has taking into consideration its size, location and its track record which will grow in abundance along with the upgrade and reMITUG of the hotel.
As a Real Estate Consultant and Marketing Expert, I am capable of bringing the hotel to a level of remodeling, marketing and occupancy to twice the existing amount at least.
My personal yet professional opinion is that we are to work with the Charedi community, since there is a great advantage as there is great potential for a large income, which was not taken advantage of yet in Tiberius.
Tiberius is the tourist city of the North of Israel which is making great strides in its development

Details

Price:
$ 5,450,000
Type:
Hotels and B & B's
Area:
North
City:
Tiberias
Size:
4,575 sq. meters
View in map:
Tiberias
  • Air Conditioning:
  • Parking:
  • Safe Room:
  • Elevator:
  • Storage:
  • Central Heating:
  • Furnished:
  • Garden:
  • Terrace:
  • Jacuzzi:
  • Sea view:
  • Mountain view:
  • City view:
  • Yard:
  • Balcony:

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