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62 unit hotel, fully renovated with Net Operating Income (NOI) in excess of $1.2M, is being offered as a sale of assets. The seller is open to a sale of shares, should the purchaser wish to take advantage. This is an excellent opportunity for a hands on operator. Currently there is a full management staff in place.
Revenues for the 12 months ending March 31:
2017 - $3,104,726. Room sales were $2,071,000
2016 - $3,113,887. Room sales were $2,017,000
2015 - $2,485,668. Room sales were $1,643,771
Posted cash flow considered normalizing for R&M, Management, and Capital Expenditure at 4%, 3%, and 4% respectively.
The 3 storey, 35,400 sft, property is situation on a + or - 2.75 acre parcel of land
Food and Beverage Facilities: A restaurant and lounge with seating for 90+
Additional Facilities: vending area
Parking Spaces: + or - 80
There is additional undeveloped space at the property, 1000 sft section and a 2200 sft section, that would provide for the addition of a business / meeting room, owners quarters, guest laundry, etc.
Further information available upon request, please contact seller below for more details.
Real Property Included
Northern British Columbia
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