The Boots Motel was established at Garrison and Central streets in 1939. That was where Route 66 int

Boots Motel back up for sale Route 66 News
After a local developer purchased the Boots in 2003 and ceased its operations as motel, lihue hawaii car rentals it was widely reported (but not confirmed) that the building would be razed to make way for a Walgreens drugstore.
The Boots Motel was established at Garrison and Central streets in 1939. That was where Route 66 intersected with U.S. 71, and for many years was called the "Crossroads of America." Reputedly, movie star Clark Gable stayed at the Boots Motel overnight lihue hawaii car rentals during a cross-country trip.
Someone lihue hawaii car rentals is trying to turn a tidy profit. What would it cost to get it up running again, another $225,000? I really like the Boots but it would take a long time if ever to recoup your investment even if there was no interest on the money. lihue hawaii car rentals Reply Ron - March 28, 2011
The land thing might be fine if we were talking about the big city or ocean front property, but typically in these locations, the land s not nearly worth as much as the business that s sitting on top of it, and in this case, I suspect the business isn t making much, even though we all know it s potential? The typical asking price for any hotel, anywhere, is 2 to 2 1/2 times it s gross revenue, and real estate almost never comes into the equation, unless you re talking about a new build where you have to acquire vacant land in a prime location for a construction site.
That s what helps the average buyer calculate not only the price, but how much they can afford to spend on rehabing the property, and still get their money back out in the end. And if they can t do that, then what s the point?
I believe the owner was at a similar asking price range previously, but that was also before the bottom of the market fell out completely, and now we ve been in a recession for years, where most feel extremely lucky just to get their 2 times gross and not a penny more. If his real interest were Route 66, I suspect he wouldn t be trying to sell so high, and he d be a lot more concerned with a quality lihue hawaii car rentals operator that could appropriately preserve the property and it s history, Mom Pop or otherwise? lihue hawaii car rentals Maybe he ll negotiate appropriately??? Reply Ron - March 29, 2011
That s unfortunate then, apparently the price was too high all along? lihue hawaii car rentals Again, it s nice if you have the money to play with, otherwise those are pretty much the standard rules for purchasing any hotel Reply 4. A development plan we d like to see Route 66 News - April 8, 2011
[...] However, even if the plan was accepted, the approximate time frame for implementation is 15 to 20 years. And if the city wants to do something about the Boots Motel, it had better move it s for sale. [...] Reply 5. Students present revitalization lihue hawaii car rentals plan for Carthage Route 66 News - May 10, 2011
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