Commercial & Property Landing
Opportunity knocks! This extensively renovated motel has many upgrades including a $70,000 Boiler, brand new metal roof, new hot water tank, in-house laundry, 52" TVs, new siding, double pane windows, new beds, and much more! Out of the 26 non-smoking rooms, 14 of them are kitchenettes (3-1 Bedroom, 3 Kitchen Bachelors, 8 Regular Full Kitchen) and 12 2 Bedroom Suites! In 2020, the occupancy rate for the motel is 70% which includes the daily and month-to-month rentals. Enjoy your 2 bedroom 900 Sq. Ft managers suite with a private deck equipped with a BBQ!
The Incredibly designed 2730 Sq. Ft pub/restaurant is included with the purchase and is equipped with wiring for 3 VLT's, wiring for an ATM, a large seating area for both the pub/restaurant and 5 large TVs to cheer on the oilers! The pub can be owner/operated or leased out separately.
In 2020, this motel has a 10.5%+ Cap Rate with gross revenues over 225 Thousand. With the addition of the restaurant leased out, the cap rate is expected to be well over 15%. As per the seller’s condition, we will be requiring proof of funds for the downpayment and a signed NDA before releasing any financial information or showings. Please contact the listing agent for interest in leasing out the restaurant/pub separately.