Listing

MLS #: 10148204

Remarks

Seven Hills Inn was built in 1987, has 28 rooms and an office with owners apartment with 4 bedrooms and 2 bathrooms on 1.31 acres for the listed selling price. The Royal Inn Motel is located adjacent to this property and can be purchased in a Jumbo Package with the Seven Hills property for a total of 3.11 acres for $4.6 million. Seven Hills Inn has an approximate annual income of $225,000 with a store on the property with a tenant income of $10,200 annually or $850 a month through December of 2024. Seven Hills can be purchased as a motel or as a development project alone or combined with the Royal Inn Property. Both of these properties front the main corridor on Martha Berry Blvd. going into historic downtown Rome. There are plans for 210 upscale multi-family apartments and condos across the street designed to meet the needs of young professionals and the medical community. There are also plans for a new 55 and up Senior Home Development nearby with up to 80 units. This property is in a perfect location to compliment these developments due to location and investment incentatives that may be available to investors because it is located in a FEDERAL OPPORTUNITY ZONE and is in also in a TAX ALLOCATION DISTRICT (TAD). Do not miss the opportunity to be a part of this exciting development in Rome which has been recognized as one of the best small towns in America! * Go to these two links below for excellent articles about this development area in Rome, GA (What is a TAD?... Blight to Bright!) https://www.romega.us/CivicAlerts.aspx?AID=79 https://www.northwestgeorgianews.com/rome/news/local/bright-not-blight-development-proposal-seeks-to-breathe-life-into-neglected-corridor/article_1fa9ebf0-286c-11ec-a538-a3c3a445e817.html