Gateway Business Brokers has determined the owner/seller has met our qualification standards of being an established, profitable, bankable business. This is the starting point of our SCS system that has proven to deliver results 3x or more industry standards and helps those we work with experience our mission of receiving the highest customer satisfaction ratings in North America. To obtain a thorough overview of this business, hit the CONTACT SELLER button. Once completed, you will receive an automated email from our system that will provide you with a link to complete a Non-Disclosure Agreement (NDA).
Description
For sale is a well-maintained, full service, non-franchised hotel that consists of 138 rooms: main building, 67; lodge, 35; other, 36.
The total number of rooms with kitchenettes are 60, 18 of which are occupied full-time by long-term emergency medical & safety crews. In this town, kitchenettes are on high demand. This business has several advantages as it operates in a high traffic area.
Included in the business are:
- Leased restaurant, lounge (with 4 VLTs) and liquor store.
- Coin laundry (with 7 washers and 8 dryers) with an income of $50,000/year.
The sale is structured as an Asset Sale. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most, if not all, of your questions.
Financial Information
Annual Revenues and Net Operating Income:
2022 (accounting for 11 months YTD financials)
Revenue: $4,183,725
NOI: $1,675,395
2021
Revenue: $3,246,089
NOI: $1,439,978
2020
Revenue: $1,515,299
2019
Revenue: $2,496,828
NOI: $675,934
2018
Revenue: $3,253,670
NOI: $1,259,491
Real Estate
Lease details:
Restaurant's lease is at $300,000 including utilities and will be renewed in 2023 for another 5 years. The rent fee will go up when the number of VLTs increases and one more VLT is expected in 2023.
Liquor store's lease is at $60,000 including utilities and the term is until 2024.
All furniture, fixtures and equipment are owned by the landlord.
For more information on this listing, please complete our Non-Disclosure Agreement
Complete NDA for Full Overview
