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Apartment Motel In Prince Edward Island For Sale

Bedeque, Prince Edward Island, Canada
Asking Price:
$950,000 (CAD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$235,000 (CAD)
Cash Flow:
$100,000 (CAD)

An easily operated Mom and Pop motel in central Prince Edward Island. This business operates year round and is very profitable with a normal year having 40% of revenue from tourism and 60% from Extended Stay apartment rentals. All units have either a kitchenette or a full kitchen. In the past year 90% of the revenue has come from Extended Stay. Occupancy is typically 85-90% year round. Property is on 5 acres plus and has been very well maintained. Excellent business for a couple or family. Located near Summerside and close proximity to most major attractions and the capital city and international airport. Great potential for expansion into a campground. 25 seat Class B restaurant could be operated in house or leased to others.

For more information, please contact us by using the form below.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

There is a four bedroom four bathroom house on separate Title that could be purchased.

Location:

Located between Summerside and Charlottetown and 15 minutes to the major entry to Prince Edward Island, (Confederation Bridge). 15 minutes from major shopping facilities in Summerside.

Premises Details:

Property had a complete makeover in 2021 and 2013; but virtually all rooms have had new appliances and flooring more recently. All new 4K Smart televisions.

Size in square feet:
5.28 acres
Planning Consent:

Zoned commercial motel.

Business Operation

Expansion Potential:

Plans have been presented to the local government to add two more blocks of 5 rooms. These would principally be for apartment living.

Competition / Market:

The Island market does not attract large franchise chains except for Charlottetown.

Reasons for selling:

Owner is ready to retire.

Trading hours:

seven days. Hours vary

Employees:
Varies by season
Years established:
sixty plus

Other Information

Support & training:

Seller will provide training and ongoing support to ensure successful transition.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

A short term bridge loan may be available to a qualified party. Financing available from Credit Union and banks.

Furniture / Fixtures value:
$80,000 (CAD) - included in the asking price
Inventory / Stock value:
$5,000 (CAD) - included in the asking price
Website:
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