Local Orlando Motel Changes Hands
- May 08, 2017
Clearwater-based Greene, Canfield, De George LLC Hotels recently announced sale of the Raceway Motel, a 14-key property located in Orlando. Financial details have not been disclosed. The latest assessment, according to Central Florida County records, values the property at $266,136.
Tony De George, president of GCD Hotels represented the seller, a seasoned hotel owner involved in many real estate transactions, which operated the motel for more than 30 years. The buyer was represented by Ken Olipra, broker associate of the company.
Located at 4724 N. Orange Blossom Trail, the one-story motel was built in 1955 and offers approximately 5,044 square feet of living area. The asset is located near the intersection of U.S. Route 441 and State Route 423 and in close proximity to Lake Fairview Park.
GCD Hotels was founded in 1970 and specializes in listing, sale, financing and evaluation of hospitality properties. The company successfully sold hundreds of assets, ranging from single asset investment sales to strategic portfolios in its 47 years of activity. The firm is a member of Hotel Brokers International, which offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services, as well as hospitality real estate advisory services.
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