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Newly Renovated 24 Unit Motel In Nanaimo For Sale

Nanaimo, British Columbia
Asking Price:
$3,225,000 (CAD) Furniture / Fixtures included
Sales Revenue:
$250K - $500K (CAD)
Cash Flow:
$50K - $100K (CAD)

Newly renovated 24 room Castaway Motel in the heart of Nanaimo on busy main street. Full occupancy almost everyday! Just 2 blocks to the waterfront and close to downtown, ferry, shopping and restaurants. New roof, patios, windows, furniture, carpet and much more. There are 11 kitchenettes and 2 bedroom manager's suite. Manager in place. Currently all occupied by out of town workers paying monthly rates, easy to operate and turn key. Low overhead. An aggressive operator can turn it into a cash cow. Absentee owner motivated to sell, easy to show. Asking $3,225,000.

Property information

Real Estate:

Real Property Included

Living Accommodation:

Large 2 bedroom manager suite attached to lobby.

Location:

Prime location on Terminal Avenue, minutes from ferry, shopping, downtown, and ocean front.

Premises Details:

Newly renovated (2018) inside and out. New exterior railings, painting, windows, patio, and roof. New interior flooring, fixtures, and furniture.

Business Operation

Reasons for selling:

Absentee, owner relocated elsewhere.

Trading hours:

7 days a week

Other Information

Support & training:

Manager will stay or can train new buyer.

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

Can qualify for bank financing.

Website:
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