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Full Service Hotel, Asessippi Inn, Russell, For Sale

Russell, Manitoba
Asking Price:
$750,000 (CAD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$701,078 (CAD)
Cash Flow:
$114,945 (CAD)

Located in Russell Manitoba, "Asessippi Inn", a ten-room hotel which includes a one bedroom suite, 180 seat beverage room, 20 seat patio, 52 seat restaurant, beer vendor and 9 Vlt's, all newly renovated; is ideal for a dynamic individual, family or partnership.
Russel is situated in a charming rural community of 3000, having a draw of approximately 80,000 within a 100km radius, primary industries within the area are agricultural, canola oil processing, potash, oil and gas exploration and tourism; mere miles from some of the finest fishing, boating, hunting and winter skiing in the province of Manitoba.

Three highways converge into Russel, making it a hub of economic activity, has a hospital, 5 doctors, a dentist, optometrist, schools... about one hour removed from larger urban centres, Yorkton, Dauphin and Brandon; larger centres of Regina, Saskatoon and Winnipeg are within 2.5 to 4 hrs. away respectively.
Getting tired of stressful city life? Frustrated by high housing prices and being stuck in traffic all the time, having little time for the family; why not consider purchasing a quaint inn in Russell for far less than the average cost of a house in Vancouver...
Check our listing on Expedia for pictures etc.

No agents, please.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

One bedroom suite with microwave and fridge... no stove.

Location:

Asessippi inn, 309 Main street, central Russell

Premises Details:

Two story free-standing concrete and brick structure built in 1962, fully renovated 2006 and undated 2018.

Business Operation

Expansion Potential:

Limited

Competition / Market:

Partial competition is the Russell Inn, located on the highway... primarily rooms, The Asessippi inn is the only bar in Russell.

Reasons for selling:

Owned since 1981 and health is failing.

Trading hours:

Monday-Wednesday... 8am-10:30pm
Thursday-Saturday... 8am-2am

Employees:
6-9
Years established:
since 1962

Other Information

Support & training:

Will be willing to spend a month on training and orientation

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

May consider taking back a mortgage but will need a minimum of $250,000. downpayment.

Furniture / Fixtures value:
$250,000 (CAD) - included in the asking price
Inventory / Stock value:
$25,000 (CAD) - included in the asking price
Home based:
This business can be run from home.

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