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Established Motel In Onoway, Alberta For Sale

Child Industry 1  /  Industry 1 Edmonton, Alberta

Established Motel In Onoway, Alberta For Sale

Asking Price: $780,000.00
Sales Revenue: $189,000.00
Cash Flow: $107,000.00
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Premises Details

Opportunity knocks! This extensively renovated motel has many upgrades including a $70,000 Boiler, brand new metal roof, new hot water tank, in-house laundry, 52″ TVs, new siding, double pane windows, new beds, and much more! Out of the 26 non-smoking rooms, 14 of them are kitchenettes (3-1 Bedroom, 3 Kitchen Bachelors, 8 Regular Full Kitchen) and 12 – 2 Bedroom Suites! In 2020, the occupancy rate for the motel is 70% which includes the daily and month-to-month rentals. Enjoy your 2 bedroom 900 Sq. Ft managers suite with a private deck equipped with a BBQ! (On-site manager is willing to stay) The Incredibly designed 2730 Sq. Ft pub/restaurant is included with the purchase and is equipped with wiring for 3 VLT’s, wiring for an ATM, a large seating area for both the pub/restaurant and 5 large TVs to cheer on the oilers! The pub can be owner/operated or leased out separately.

In 2020, this motel has a 10.5%+ Cap Rate with gross revenues over 189 Thousand. With the addition of the restaurant leased out, the cap rate is expected to be well over 15%. As per the seller’s condition, we will be requiring proof of funds for the down payment and a signed NDA before releasing any financial information or showings. Please contact the listing agent for interest in leasing out the restaurant/pub separately.

The property is located in Onoway, Alberta.

Property Information

Real Estate
Real Property Included
Location
Edmonton, Alberta
Living Accommodation
14 Kitchenettes, 12 2 Bedrooms.
2 Storey Motel with 3 suites in the basement under the restaurant
Size in square feet
61,420
Year Established
2006
Style
Back Split
Type
Single Family

Business Operation

Expansion Potential
Situated on 1.41 Acres, has the potential to be subdivided.
Competition / Market
One other hospitality location in the town with a bar, however, the condition of this motel/restaurant is far greater.
Trading hours
24 hours
Employees
Full Time Manager
Years established
1980-Present

Other Information

Furniture / Fixtures value
$350,000.00