116 N Water St, Milan, MO 63556

Call Kelli Hoerrmann to schedule a viewing! 660-342-6490 Would you like to own a piece of history that provides good net income? Hotel Stanley in Milan, Missouri offers that unique opportunity. An ideal investment opportunity as Owners are motivated to sell. This property would be excellent investment for investor or older couple who are near retirement but want or need additional income. The business is a turn-key operation, priced with all equipment, fixtures and antiques, including furniture in living quarters. The business just needs a new owner and management. The business provides an excellent cash flow, mostly renting to weekly and monthly tenants who clean their own rooms. The contribution of new owner will mostly be management duties. This hotel was built in 1892, has been well maintained and is a beautiful structure. Presently there are 12 sleeping rooms, renting at $80.00 per week; 6 apartments renting at $110.00 per week; one full apartment renting at $900.00 per month and 4 rooms used for nightly rentals at $55.00 per night. The weeklies and monthly rental have a 95% occupancy over the past few years. In addition to the sleeping rooms, apartments and nightly rooms, there is a 2500 sq. ft. living space for owner/manager with 3 bedrooms and 3 baths. The business requires very little labor as tenants clean their own rooms, on site management is needed. A large dining area is presently used to display antiques, a very unique opportunity exists to add a tea room or restaurant to the business. This is an unbelievable opportunity for a couple nearing retirement but still wishing to generate an income. Owners are motivated to sell.