When:
September 21, 2019 @ 12:00 pm
2019-09-21T12:00:00-05:00
2019-09-21T12:15:00-05:00
Where:
12710 U.S. HWY. 68 East, Benton, KY  42025
Contact:
Harris Real Estate and Auction
2702473253
Kentucky Lake Waterfront Auction @ 12710 U.S. HWY. 68 East, Benton, KY  42025
KENTUCKY LAKE WATERFRONT AUCTION

Saturday, September 21st, 2019 @ 12:00 PM

12710 U.S. HWY. 68 East, Benton, KY  42025

OPEN HOUSE: Saturday, September 7th From 1:00 PM -3:00 PM

SPORTSMANS
LODGE – CAMPGROUNDS – MARINA
OVERLOOKING KENTUCKY LAKE AT JONATHAN CREEK

Absentee Owner Retiring!

FULLY OPERATIONAL BUSINESS WITH CASH FLOW INCOME STARTING THE DAY YOU CLOSE!!

POTENTIAL ANNUAL RENTAL INCOME OF $2,354,322.00 BASED ON A 274 DAY SEASON

BEAUTIFUL KENTUCKY LAKE WATER FRONTAGE

 

REAL ESTATE TRACTS: Tract 1: Hotel with 16 Units, 2 Condos, 16 Waterfront RV Sites, & Lake View Cabins on 4.47 Acres, Tract 2: Full Service Marina with 170 Slips, General Store, & 2 2,500 Fuel Tanks on 0.5 Acres, Tract 3: 6 Cabins, 1 Park Model, & 44’ X 80’ Metal Building For Boat Works & Office Area on 1.94 Acres, Tract 4: Condo House with Full Basement, 3 Park Models, 1 Mobile Home on 1.17 Acres, Tract 5: Liquor Store, Game Room, Coin Laundry Room, Men’s & Woman’s Bathhouse, Pool, Playground, 54 RV Park Waterfront & Marina Campsites, 5 Park Models, & 20 Primitive Campsites on 7.52 Acres, Tract 6: 2.63 Acres on Jonathan Shores Road, Tract 7: 2.15 Acres on Jonathan Shores Road

RESORT ACCOMMODATIONS:                                                          

TRACT 1

Hotel

16 Units @ $130.00 per night                                                                                                                    $569,920.00

2 Condo/Duplex Unit on Second Floor of Hotel                                                                                    $150,700.00

101-114 Have 2 Queen Beds

115 & 116 2 Queen Beds, Hide-A-Way Bed, Kitchen

*** All Hotel Rooms Have Beautiful Lake Views & Kitchenettes

                                                                                                                              TOTAL PAI FOR HOTEL: $720,620.00

16 RV Sites on Waterfront                                          $4,250.00/Year                                                      $68,000.00

Electric is Billed Directly to Leasee

Lake View Cabins

C14 1 Bedroom W/ Kitchen 1 Queen Bed & 1 Hide-A-Bed                                                                  $27,400.00

C15 1 Bedroom W/ Kitchen 2 Queen Beds & 1 Hide-A-Bed                                                                $27,400.00

C16-C19 Single Units or Converts to Duplexes                                                                                    $100,832.00

C20 1 Bedroom W/ Kitchen and 2 Queen Beds                                                                                     $27,400.00

C21 1 Bedroom W/ Kitchen and 2 Queen Beds                                                                                     $27,400.00

C22 2 Bedrooms W/ Kitchen, 2 Queen Beds, 1 Twin Bed, 1 Hide-A- Bed                                         $38,360.00

C23 3 Bedroom W/ Kitchen & Dishwasher, 3 Queen Beds, 3 Twin Beds, 1 Full Bed                     $54,800.00

C24 1 Bedroom W/ Kitchen, 2 Full Size Beds, 1 Hide-A-Bed                                                               $30,140.00

T23 3 Bedroom 2 Bath Double Wide                                                                                                       $72,610.00

                                                                                                         TOTAL PAI FOR TRACT 1:             $1,194,962.00

TRACT 2                                                     FULL SERVICE MARINA                                                  170 Slips

Dock A                44 Slips Will Accommodate up to a 21’ Boat

28 Slips W/ 4500lb Lift                                                                                                     $2,300.00/Year  $64,400.00

16 Slips                                                                                                                                $2,000.00/Year $32,000.00

Dock B 24 Slips Accommodates up to a 21’ Boat                                                      $2,000.00/Year  $48,000.00

Dock C 36 Slips Accommodates up to a 17’ Boat                                                      $1,800.00/Year  $64,800.00

Dock D

14 (20’ X 28’) Slips                                                                                                         $2,125.00/Year  $29,750.00

1 (18’ X 28’) Slip                                                                                                              $2,200.00/Year  $2,200.00

1 (10’ X 28’) Slip                                                                                                              $2,250.00/Year  $2,250.00

Dock E 20 Covered Slips                                                                                             $2,075.00/Year  $41,500.00

Dock F 10 Covered Slips W/ 6500lb Lift                                                                   $3,025.00/Year  $30,250.00

Dock G 12 (30’) Covered Slips W/ 6500lb Econo Lift                                              $3,050.00/Year  $36,600.00

Dock H 1 (16’ X 40’) Covered Slip with 14,000lb Lift                                               $4,075.00/Year  $16,300.00

                4 (16’ X 52’) Slips                                                                                            $2,900.00/Year  $11,600.00

                3 (16’ X 40’) Slips                                                                                            $2,700.00/Year     $8,100.00

Dock N 17 OPEN SLIPS                                                                                                 $1,750.00/Year   $29,750.00

                                                                                                                    TOTAL PAI FOR TRACT 2:      $417,500.00

MARINA FEATURES:

Two 2,500 Gallon Fuel Tanks for Gas Dock

General Store With Beer License

Well Maintained Docks & Functioning Marina

**This Marina is Grandfathered and has no assessment by TVA under original Company Domicile.

 

TRACT 3

C27 1 Bedroom W/ Kitchen, 2 Full Size Beds, & Hide-A-Bed                                                          $24,386.00

C28 1 Room Cabin, 1 Queen, 1 Twin, & Bathroom                                                                           $19,180.00

C29 Cabin W/ Kitchen, 1 Full Bed, 1 Twin Bed                                                                                   $23,016.00

C32 1 Bedroom W/ Kitchen, 2 Full Size Beds & 1 Queen, 1 Hide-A-Bed                                       $30,140.00

C33 & C34 1 Room Cabin, 1 Queen Bed, 1 Twin Bed, Bathroom, & TV                                          $38,360.00

C41 3 Bedrooms, 2 Baths, 10 Twin Beds                                                                                              $73,980.00

***C27-C41 ALL HAVE A MARINA WATER VIEW

T36 Park Model W/ Kitchen, 1 Queen Bed, 1 Hide-A-Bed                                                               $31,647.00

**Additional Tract 3 Features: 44’ X 80’ Metal Building For Boat Works & Office Area

                                                                                                                TOTAL PAI FOR TRACT 3:      $240,709.00

TRACT 4

Condo House With Full Basement 3 Bedrooms & 1.5 Bath

3 Night Stay Near Spirit Shop                                                              $300/Night X 274 days =    $82,200.00

(3) Park Models with 2 Bedrooms P5 & P7 & 1 Bedroom in P4 Unit                                           $36,990.00

1 Mobile Home with 3 Bedrooms M6                                                                                                $98,640.00

                                                                                                                 TOTAL PAI FOR TRACT 4:    $217,830.00

TRACT 5

Liquor Store, Game Room, Coin Laundry Room, Men & Women’s Bath House

Underground Swimming Pool & Play Ground

54 RV Park Waterfront & Marina Campsites

# RV Sites                           (31)                       $2,300.00                                                                         $71,300.00

                                             (21)                       $2,500.00                                                                         $52,500.00

                                              (2)                         $3,000.00                                                                          $6,000.00

Park Models

(2) Units P3 & P9                                            2 Bedrooms                                       $130.00/Night $71,240.00

(3) Units P 2, 8, 10                                          1 Bedroom                                         $100.00/Night $82,200.00

20 Primitive Campsites                                                                                                      $20-$50 Per Night

                                                                                                                 TOTAL PAI FOR TRACT 5:    $283,240.00

TOTAL POTENTIAL ANNUAL  RENTAL INCOME: $2,354,322.00

PLUS 3 Year Annual Average of Fuel Sales at $50,000.00 & Beer/Liquor Sales $52,000.00!

Annual Property Taxes, Monthly Insurance Premium, & Income Tax Returns Available upon Request and Will Only be Sent to CPA by Secured Method

OPEN HOUSE: Saturday, September 7th From 1:00 PM -3:00 PM

THIS WATERFRONT PROPERTY OFFERED AT 12:00 PM!
 AUCTION HELD ON SITE REGARDLESS OF WEATHER!

REAL ESTATE TERMS: 15% Down Due Day Of The Sale With Cash Balance In 30 Days. A 10% Buyer’s Premium Will Be Added To The Final Bid & Included In The Contract Price. Buyer Will Be Required To Sign A Lead Based Paint Disclosure Waiving The Opportunity To A 10 Day Post Sale Inspection. Make Inspections Prior To Date Of Sale.