Advice Needed: Selling CRE in Central CT

[Raumil S.]

I'm not sure if this is the right forum, but let me know and I can ask in a different forum..

Background:
My parents own a small motel in central CT and I'm trying to help them sell it/the land. We've tried to give it to a broker twice, but neither of them seemed to actively market the property. The first one didn't bring any suitors to the table and second one brought 1 offer, but we couldn't agree to terms on the LOI.

Property Details:
The motel (2 buildings) sits on about 1.5 acres of land and located about mid-street, but not too far from the corner. The road itself is a 4 lane road (2 in each direction) and has 30K+ ADT. The road is fairly developed including a number of big box stores, gas stations, fast food chains and so forth.  The bigger names (Walmart, Target, Ashley Furniture, Toys R Us, Sam’s, etc.) have all come within the last 15-20 years and there continues to be new development.

Goal:
The motel isn’t worth nearly as much as the land that it’s on, so we’re trying to sell the land for re-development. Since the business is income generating, we don’t want to tear it down and wait for someone to buy, but instead we’d like to sell/lease and then the buyer can do whatever they would like with the land. Parents are older and I’m located a few hours away so redeveloping it ourselves is out of the question. Ideally, the buyer or developer would end up putting another business on the property to make money.

Now my questions:

1. Is a broker the most efficient way to sell our property?
2. If so, any advice on what to look for in a broker? How can we find out if they’ll actually make an effort to sell? 
3. Outside of hiring a broker, what can we do to help aid in the sale of the property?
4. Any other tips or advice?

Thanks in advance!